Analyzing Business Markets and Business Buying Behaviour
A market consists of two parts consumer market and business market. Companies manufacture products for consumer market but business market is equally large and strong. Typical business markets consist of manufacturing plants, machinery, industrial equipments, etc. Companies need to study and analyze factors affecting business markets and business buying behaviour. In a business market, organizations […]
Newsletters, Press Releases, and Writing for the Press
Press Releases and their Importance The previous articles discussed the various aspects of media and the role of media in shaping public opinion. We had also discussed how press conferences and press meets are to be organized and listed some points for the successful media management strategies. Continuing in the same vein, this article discusses […]
8 Stages of Product Development Process
Companies first find the target market than segment and then customers. After these companies go about developing products, which may be product modification or it may be a completely new product. Product offerings are increasing every year as consumers are looking for more and more variety of products. Companies which are unable to churn out […]
What is Mystery Shopping? – A Tool For Retail Optimization
Mystery Shopping is a fascinating method of gauging customer experience where individuals are recruited to portray actual customers that shop at a store. Feedback is then taken through these ‘mystery shoppers’ and the company uses it to evaluate how close is the actual experience of the customers to the desired one. It prompts the company […]
Cost/Price Sensitivity of Customers
Price sensitivity can be defined as the consciousness of the customers to cost windows or range within which they make dealings. All the customers are always cost sensitive and concentrate basically to buy products on cheap rates. However, cost sensitivity of a customer substantially depends on condition of the market. For example if a product […]
There are primarily three models in business to business marketing:
The above model includes small locally operated businesses which are not much organized. Organizations categorized under Traditional local business model still use primitive methods of promoting a particular product or service.
Such businesses are generally not managed by professionals. Individuals with some technical and sales knowledge are appointed who run the whole show.
Methods of Promoting the Brand
Such businesses promote their products and services through discount coupons in newspapers or any other form of print media.
Advertisement in radio is one of the most powerful ways of promoting a brand. It creates awareness of a particular brand among clients. The only limitation in radio advertisements is that it is difficult for the businesses to keep a track on the results.
Local Television Advertisement reaches a wider audience. It is much expensive than print ads and radio ads but instantly creates a buzz among clients.
Businesses also create websites of their own to promote their products and services. Promoting a brand through website also has its own limitation. An organization would only benefit if clients come across the particular website and immediately call concerned officials for further assistance.
The only limitation in Traditional local small business model is that businesses find it difficult to keep a track on the results and output.
Such businesses are much more organized and technically advanced than above businesses.
Such businesses believe in promoting their products and services through social networking sites such as Facebook, Linkedin and even Twitter. Upload a nice presentation of your organization’s products and services in networking sites for clients to gather as much information as they can.
Such businesses are intelligent enough to rank their websites in search engines. Any client typing a particular keyword in Google, Yahoo, MSN or any other search engine would automatically be directed to organization’s website as per his needs and requirements. The websites are professionally managed and moderated by individual concerned who keeps a complete track on client’s comments, queries, suggestions, feedback and so on.
Search Engine Optimized Site, Social Media and Email Marketing Integrated
Such businesses use internet to its full potential. Such businesses use email marketing to promote their products and services. Business marketers make a nice presentation of their products and send it to the prospective clients through email. Make sure you call up your clients to find out whether they have received and read your mail or not?
Business marketers believe in maintaining a healthy and strong relationship with their clients so that they do not go anywhere else. Such businesses establish trust with their customers.
Such businesses promote their products through:
Ranking their organization’s website in search engines such as Google, yahoo etc so that customers do not have problems in searching the website.
Once clients arrive to the site, they are often presented with various lucrative options such as discount coupons or are asked to subscribe to organization’s newsletter, brochures, email alerts and so on.
The moment a client subscribes to the discount coupons or email notifications, organization gets its confirmed client.
Businesses also promote their brands through social networking sites and sending emails to the clients.
Such businesses do not have to spend on advertisements but can make their brands popular through sending emails to their repeat customers.
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