Key Differences Between Consumer And B2B Marketing And The

Key Differences Between Consumer And B2B Marketing And The Key Differences Between Consumer And B2B Marketing And The Implications Of These Differences For â€" Essay Example > Key Differences Between Consumer And B2B Marketing And The Implications Of These Differences For Marketing Strategy In A B2B Marketing OrganisationIntroduction: B2B marketing is founded in the basic marketing concepts just as consumer marketing is and yet there are essential differences. These differences may not be easily visible, but they are significant and an understanding of these differences and their implications on B2B marketing may draw the line between success and failure in B2B marketing. (Leopard, S., 2006). Differences: There are six key factors that differentiate B2B marketing from consumer marketing and these differences lie in the essential difference of the target market in nature and purchase behaviour. The first key difference is that buying is a part of the business processes in a business enterprise and this is marked by the presence of a purchase department or purchase activity in a business enterprise. In consumer marketing buying may not be an essential act ivity as part of the day-to-day activity or not an essential part of the daily activities. Product awareness is created through various forms of advertisements and product information programs targeted at the consumer to stimulate a purchase reaction that is not necessary with B2B marketing. (The challenges of B2B marketing). The second key difference is in the sophistication of the markets. Business is a serious enterprise and as such the nature of the market is sophisticated. There is awareness of the kind of product required and the capacity to understand the intricate features of the product. Such sophistication is not an essential feature in the nature of the consumer market and awareness of product features, as well as the capacity to understand the finer points in the features of the product may not be as high as in the business market. (Business-To-Business Marketing). The third difference key difference lies in the interest that business market displays for product inform ation. The purchase process in a business enterprise is a serious proposition, as the success and competitiveness of the business enterprise may be at stake in the purchases it makes. This makes the business market a willing listener to product information for the purpose of proper analysis of the product and whether it matches the requirements for which the purchase is intended. Even when a purchase may not be imminent, the business market will still be interested in product information for the purpose of increasing its awareness of the products available. In the case of the consumer market this may not be so. There is limited interest in product information, only utility value. . (Bly, R.W. The Key 6 Differences Between Business-to-Business and Consumer Marketing). The fourth difference between B2B marketing and consumer marketing lies in the buying influences that are inherent part of the two markets. In the consumer market, usually the individual makes the purchase decision an d hence there is only a single buying influence. In the business market the purchase process is usually a team effort and there are multiple buying influences that come into the picture. Another feature of this difference in the business market is that the actual user of the product in a business environment may be only one of the influences and not necessarily the main buying influence. The multiple buying influences view a product from different perspectives and this adds to the complexity of the business market in comparison to the consumer market with its single buying influence. (Murphy, D. Marketing for B2B vs. B2C â€" Similar but Different).