Consumer vs. Business Marketing
Consumer vs. Business Marketing
Question 1: Comparing and Contrasting Marketing Methods in B2B and B2C Businesses
B2B defines business-to-business where a firm sells products to other companies. Conversely, B2C refers to business-to-consumer in which case businesses sell their products directly to consumers. B2C marketing is primarily focused on driving consumers to the product by maximizing the value of the transaction through activities that promote purchase behavior (Kumar & Reheja, 2012). Contrarily, B2B marketing focuses on increasing the relationship between businesses by educating the target audience on the value of the products offered. The marketing decisions in B2C companies usually focus on getting consumers to purchase more products. Since business buyers use logic and rationality while making purchase decisions, marketing decisions in B2B should be based on helping the buyer find solutions to their problems.
In terms of similarities, marketing needs to be tailored to meet a sophisticated audience with various tastes and preferences in B2B and B2C. Besides, customer service is an essential factor in both cases as it enhances consumer loyalty and commitment. Also, the pricing strategy should be aligned with the market price and be competitive. Besides, marketing needs to build awareness, trust, and loyalty among consumers. The internet age has enhanced the convergence of B2B and B2C companies since marketing strategies in all organizations focus on developing a competitive advantage against other firms hence increasing the market share.
Question 2: The Importance of Personal Selling in Marketing
Personal selling is an essential marketing tool in small businesses, especially for B2B businesses that sell products to other companies as opposed to consumers. Personal selling is facilitated by the use of sales representatives who make individual visits to consumers or make telephone calls to prospective consumers (Linton, 2019). Sales representatives can be instrumental when selling unique products focused on solving a problem in the market. This assertion is because they use their skills to overcome consumer objections and convince buyers that they will be making the right choice by purchasing the product. Also, sales representatives can be efficient when selling complex products. In this case, they use logic and rationality to explain the value products will add to the consumer.
Sales representatives can also play an essential role when selling products with long sales cycles. In this case, they use various strategies such as identifying need, developing specifications, selecting suppliers, evaluating suppliers and making the final purchase decision. The criteria to be used in choosing personal selling as a marketing tool involves checking whether the organization can be able to ask the consumers questions and address their concerns. Other crucial determiners are whether a company can request consumers to purchase a product and making a follow-up when the final purchase is made.
Question 3: Using Mobile Payments in E-Activity and Appendix
Mobile payment tools have erupted in the current era of advanced information and communications technology (ICT). These technologies have substantially transformed the payments industry. Subsequently, these services have led to the emergence of non-banking companies that offer their services across online-media platforms (Otieno, Liyala, Odongo & Abeka, 2016). The new mobile payment services have provided many benefits to consumers such as offering convenient, quick, easy and low-priced products. Also, consumers can choose from a large pool of companies offering the same services worldwide.
One of the challenges associated with the implementation of a digital payment platform is making the website dynamic. This issue can be mitigated by using different keywords and offering content using blogs on the website. Another problem would be increasing online presence through extensive and effective use of social media platforms such as Twitter, Instagram, and Facebook. Another drawback would be growing the list of users when using email marketing. This problem can be solved by running social media contexts and asking people to rate content. Moreover, using pop-up ads requesting users to sign up for company blogs and newsletters can help increase online followership.
Kumar, V. & Reheja, G. (2012). Business to business (B2B) and business to consumer (B2C) management. International Journal of Computer and Technology, 3(3), 447-451.
Linton, I. (2019, January 25). The importance of personal selling. Chron. Retrieved from https://smallbusiness.chron.com/importance-personal-selling-76757.html
Otieno, O. C., Liyala, S., Odongo, B. C. & Abeka, S. (2016). Challenges facing the use and adoption of mobile phone money services. World Journal of Computer Application and Technology, 4(1), 8-14. doi: 10.13189/wjcat.2016.040102