Business marketing involves activities in communicating the value of a business product and services to another business. There is an increased focus on marketing of a product in the ever changing market scenario. As the saying goes that out of sight is out of mind, when one is in business or in marketing one needs to be in the eyes and ears. This is because one needs to make his or her brand known.
Every business deals with selling. This is a universal concept but is this product or a service? Any business needs customers to progress or expand. It takes all kinds of people to make a world and so the business of business is no different.
Business marketing vs. customer marketing
To understand the business of marketing one needs to step back a bit and understand the thinking process of the customer. It all depends on the demands of the customer which means that one needs to be a step ahead of the customer. Now day’s people have the favorite shopping app through which they can browse or go on to Face book and find out what others are interested in. Overall planning is very important in marketing. So to make one’s product stand out then the brand has to be strong and one must be able to pin point what is unique about the product.
Words of mouth serve as a great marketing strategy but one cannot just depend on that. In a world of cut throat competition every word spread may not necessarily be in favor of the product or brand. It has been seen that at times even the most outgoing and charming small business owner will not be able to bring his customer back unless the product or service they have promised exceeds expectations. One must never lose sight of the product as one must know that it is the one bringing in all the money.
Business marketing means advertising which in turn also means investment. A catchy headline at times can do the job and so there is not much investment in advertising. Most business strategies are based on the marketing feedbacks through advertising. The more the product remains in the eyes of the customer the lesser will be the advertising needed.
Business to Business marketing
This type of marketing involves the sale of one company’s product to another company. This marketing is based on the same principles of consumer marketing but is done in a special way. While consumers choose products on popularity and status but never on price, business to business marketing is based on price and profit. As mentioned earlier one needs to foster new relations and this possible through social media. Social media has become the platform for a two way dialogue between businesses. It has been observed that businesses are more likely to buy from other companies that they view through social media. Tech savvy business to business companies have thus found various and innovative ways to use social media to their advantage.