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Lecture notes b2b marketing
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Lecture notes of 9 pages for the course b2b marketing at MMU (b2b marketing notes)
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B2B MARKETING- notesMonday 20th of Sep
Differences between B2B and B2C: business-to-business and business-to customer.
Business marketing is concerned with the marketing of goods and services to organisations
Business market management is the process of understanding, creating and delivering value
to organisations
Business markets are firms, institutions, or governments that acquire goods and services.
Focuses on functionality or performance.
MMU is a business: an organisation supplies a product to MMU (B2B) and MMU supplies to
B2C customers, such as laptops that are supplied to MMU and we can buy them directly
from the supplier through MMU.
RioTinto is an organisation whose purpose is to produces material essential to human
progress: the company is a mining and metals company operating in 35 countries around
the world. They produce aluminium for cars and smart phones, iron ore for steel and
copper for wind turbines, diamonds that set the standard for ‘responsible’, titanium for
household products and borates for crops that feed the world. (From website)
Riotinto is a B2B because it supplies businesses, not consumers directly.
Wednesday 22nd of Sep
B2B Marketing 7Ps:
1. Product, when creating and marketing a product an organisation should consider
appearance and presentation of the product and the function of the product since it
must cater all the client’s needs, in B2B function is more important than appearance
because organisations will not invest in a product or service that does not meet their
requirements, consumers on the other hand care more about appearance.
2. Price, business buyers are far more focused on price and value than consumers, as it
directly affects their profitability. Trends and style hold less importance in the
business buying landscape. When selling to organisations it is pivotal that marketers
have clearly structured pricing plan that is easy to communicate and understand so
that decision makers for the business are not deterred and can easily pass on the
information to the board of the company for approval.
3. Promotion, this can vary greatly between B2B and B2C as individual consumers tend
to seek out information differently than business buyers. B2B communication
channels include brochures/pamphlets, emails, trade shows and networking
events. Trade shows give businesses the power to invite all potential and existing
clients on a common platform and demonstrate their products and services, these
kinds of events are viewed as the most effective offline distribution channel by 84%
of B2B marketers (Regalix, 2015).
4. Place, regardless of the client type, it is essential to provide the right product at the
right place and right time. The main thing you need to focus on in a marketing
strategy is targeting clients in the optimal buying environment. Place isn’t necessarily
a physical location, a place can be determined by the industry a product serves (such
as pharmaceutical company that sells directly to hospitals will work there)
, 5. People, when it comes to selling a consumer good marketer don’t generally need to
concern themselves with salespeople. B2B marketers however need to provide
evidence as why their product offering is the perfect fit. salespeople are essential for
building trust and motivating prospects to buy, because they need to sell the product
that is not a fit-all kind of product.
6. Process, the buying process is a key selling point of your offering because it can
demonstrate the company’s expertise and be a key element of the value proposition.
Given that B2B marketers often offer solutions to their clients that are not
standardised, this makes the process of delivering this solution becomes vitally
important as it differentiates the company from competition.
7. Physical evidence, the B2B marketing mix places a great deal of emphasis on actively
building trust in the audience. This is done through a variety of tangible and
intangible means , such as: the office set up is a big factor on clients perceive the
company since in person meeting are essential to gain the client’s trust. Given the
variation in offerings for B2B marketers, especially when offering tailored products
8. As a general rule, B2B selling needs to be clearer and more concise than b2c.
Rio Tinto > B2B
Continental Tires > B2C
Thursday 23rd of Sep
Differences between B2B and B2C
How much are products different in B2B vs B2C? lots of products could be both, such as
computers, services, tires, etc. but if you focus on the nature of the client you will notice the
difference between the two, but the product can still be the same, just treated in different
ways according to the clients’ needs.
The fist main differences are:
1. Market structure, the demand for example differs from B2B to B2C, since in B2B
demand is derived from many factors such as price, is more heterogeneous and less
elastic. B2C demand id more direct .
2. Buying behaviour, there are many buying influences in B2B and less in B2C, because
the final purchase decision in B2B need to be discussed between a large group of
people, instead in B2C the final decision of purchase will be taken by just one
individual.
3. Marketing practices, B2B deals with systems selling, B2C Instead deals with product
selling, therefore the selling process will be different. For example B2B is a more
personal way of selling since its built over trust and relationships, B2C on the other
hand is more indirect and individual, less personal.
According to Peter Drucker ‘the true meaning of marketing is knowing what is value for
customers’. value – cost = offering
Customer evaluates value based on functionality or performance, total cost of specific
functionality or performance, similar alternatives.
Therefore, creating value is one of the most important things to do in business market
management! As well as focusing on business market management process and working on
relationship and business networks.
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