MKT 201 Business to Business Marketing Essay

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Business Finance

MKT 201

MKT

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1200 words (without the references) report about Business to Business Marketing  

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Guidelines to preparing the project report: a. You are required to prepare a report as per the following i. A brief introduction about the topic ii. Subjects covered iii. Conclusion iv. References
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Explanation & Answer:
1200 Words
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Running head: Business-to-Business Marketing

Business-to-Business Marketing

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Business-to-Business Marketing

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Business-to-Business Marketing
Introduction
Marketing of goods or services to other businesses and organizations is referred to as
business-to-business marketing. Marketing to the business-to-business market is a nuanced
endeavor. The marketing ecosystem of an organization is different from that of its customers and
prospects. These differences can make marketing more difficult and increase the chances that it
will fail. This paper will discuss the differences between business-to-business markets and
consumer markets, highlight the challenges that face B2B marketers, and suggest
countermeasures.
Different distribution channels and decision-makers
The distribution channel of business-to-business (B2B) marketing is different from the
channel of consumer marketing. While there are exceptions, individual consumers do the
majority of visual, product, and brand research themselves. Businesses will have staff to perform
this research and make recommendations. Businesses also frequently have other departments that
play into a purchasing decision, such as finance or HR. This can make the purchase process very
long and involved, resulting in more opportunities for marketing to go wrong (Tanner, 2021).
This difference carries over to the decision-makers of the purchase decision. While an
individual consumer may choose a new product themselves, most business decisions are made
with the involvement of multiple people. A purchasing organization will have a C-level
executive who ultimately makes the final call. They may also have middle managers who will
conduct research and provide guidance. This larger decision-making process could be more
complex than you anticipated, increasing your chances of failure.

Business-to-Business Marketing

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Influencing the decision-maker
One of the best ways to make marketing more effective is to understand how a buying
organization makes decisions. This requires that you understand how decision-makers interact
with one another and what influences their thoughts and votes. A purchasing organization will
have many people involved in making the purchase, which can lead to varying levels of
involvement. Some will discuss options on their own, while others will be brought into meetings
on behalf of the CEO or executive team and asked for their opinion. This will affect how they
interact with your marketing, and you may need to adjust how you approach the decision-making
process.
As a purchasing organization is considering a purchase, many factors can influence their
choice. It is important to understand these factors in order to understand how your marketing
needs to appeal to the decision-maker. If the product or service comes with a steep learning
curve, or if it is overly complex for novice u...

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