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B2B Marketing Mix Impact On Asia Pacific Region

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INTERNATIONAL JOURNAL OF SCIENTIFIC & TECHNOLOGY RESEARCH VOLUME 2, ISSUE 12, DECEMBER 2013 ISSN 2277-8616

B2B Marketing Mix Impact On Asia Pacific Region

Swapan Kumar Saha

Abstracts: Business to business marketing primarily refers to trade dealings between two businesses. This business can be between manufacturers
and wholesalers or between wholesaler and retailers. Business-to-business marketing is currently one of the fastest-growing areas of marketing in Asia
pacific region as well as all over the world. As technology brings more businesses together, companies are beginning to court each other far more
aggressively. Business-to-business marketers target only other companies; they have significantly more targeted businesses than customer marketers.
Even when marketing vary specific products for a fairly small subset of individuals, the latter type of marketer has a far larger audience than the former.
However, b2b transection is growing in Asia pacific region very rapidly. Especially it‘s transection through internet is noticeable; it is higher than the past
situation. The marketing mix of b2b is very much different than consumer marketing. In marketing mix you have to understand the cross-culture issue for
any product. When you are going to segment your b2b market, you have to understand the several type‘s b2b byer‘s nature and mind. Target market
segmentation is especially important in B2B markets, as there is often little to differentiate one product from another. Future of B2b is promising but there
are some ongoing and upcoming challenges. But if we could overcome them, B2b will remain the ultimate form of trade transactions as current and
future prediction.

Index Terms: Principle of b2b, characteristics of b2b, supply chain of b2b, b2b transection through internet, b2b impact on Asia pacific region, Marketing
mix for b2b, b2b market segmentation for Asia pacific region, target market segmentation of b2b.
————————————————————

1. INTRODUCTION In his introduction to Fundamentals of Business

BUSINESSmarketing is the practice of organizations MarketingResearch, J. David Lichtenthal, professor of
facilitating the sale of their products or services to other marketing at the City University of New York's Zicklin School of
companies or organizations. Electronic components shops in Business, notes that industrial marketing has been around
Guangzhou, China. There is a whole area mostly taken over since the mid-19th century, although the bulk of research on
by these shops that supply local companies that assemble the discipline of business marketing has come about in the last
various electronic products. Business marketing is the practice 25 years. Morris, Pitt and Honeycutt, 2001, point out that for
of individuals, or organizations, including commercial many years business marketing took a back seat to consumer
businesses, governments and institutions, facilitating the sale marketing, which entailed providers of goods or services
of their products or services to other companies or selling directly to households through mass media and retail
organizations that in turn resell them, use them as channels. This began to change in middle to late 1970s. A
components in products or services they offer, or use them to variety of academic periodicals, such as the Journal of
support their operations. Also known as industrial marketing, Business-to-Business Marketing and the Journal of Business
business marketing is also called business-to-business & Industrial Marketing, now publish studies on the subject
marketing, or B2B marketing, for short. [1] In the broadest regularly, and professional conferences on business-to-
sense, the practice of one purveyor of goods doing trade with business marketing are held every year. What's more,
another is as old as commerce itself. As a niche in the field of business marketing courses are commonplace at many
marketing as we know it today, however, its history is more universities today. In fact, Dwyer and Tanner (2006) point out
recent. Business markets have a derived demand. This means that more marketing majors begin their careers in business
that a demand in business markets exists only because of marketing today than in consumer marketing. For example,
another demand somewhere in The consumer market. In other Hero Honda was actually two companies. Hero was Indian
words, business markets do not exist in isolation. For Bicycle Company and Honda was a Japanese Motor Cycle
example, the demand for restaurant furniture is based on the company. In 1980‘s Honda wanted to launch their business in
consumer demand for more restaurants.[1] However, its India. But they were not well known in Indian Market. They
history is more recent. had no reputation and goodwill here. That is why it was not
easy to launch the business because it was risky of losing big
amount of money. Here in India Hero was the no.1 Bicycle
Company. They had reputation in Indian market. So they made
a deal. Hero gave the goodwill to Honda and Honda gave
quality products to Hero. This is B2B marketing. [7] Key point
about B to B is,
 Relationship driven
 Maximize the value of the relationship
 Small, focused target market
 Multi-step buying process, longer sales cycle
 Brand identity created on personal relationship
____________________________  Educational and awareness building activities
 Rational buying decision based on business value
 Swapan Kumar Saha, Senior lecturer, College of
Business Administration (CBA), IUBAT-International Although the goal of B2B marketing is to convert prospects
university of Business Agriculture and Technology, into customers, the process is longer and more involved. A
Dhaka, Bangladesh,PH-8801733445045, B2B company needs to focus on relationship building and
 E-mail: swapanau@yahoo.com.au communication using marketing activities that generate leads
that can be nurtured during the sales cycle. B2B companies
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use marketing to educate various players in the target involved in B2B marketing, it means that you own a business
audience because the decision to purchase is usually a multi- and you want to sell your products to other businesses, rather
step process involving more than one person.[2] than selling them to the end user. [6] For example, Adcom
make ads for Robi mobile network in Bangladesh. Their Last
2. SOME CHARACTERISTICS OF B2B Campaign was Desh-Premik. Robi giving ads order to Adcom
ltd and they making ads from them. Business to business
2.1 B2B Buyers Are Longer-Term Buyers refers to business that is conducted between companies,
The long-term products and services required by businesses rather than between a company and individual consumers.
are more likely to require service back-up from the supplier This is in contrast to business to consumer (B2C) and
than is the case in consumer markets. A computer network, a business to government (B2G). [8]
new item of machinery, a photocopier or a fleet of vehicles
usually require far more extensive after sales service than a
house or the single vehicle purchased by a consumer.
Businesses‘ repeat purchases (machine parts, office
consumables, for example) will also require ongoing expertise
and services in terms of delivery, implementation/installation
advice etc. that are less likely to be demanded by consumers.
[3] For example, 1.China import oil from Russia, Sudan,
Iran, and Saudi Arabia and become a long time buyer.
[4] 2. Alibaba is the world's largest B2B marketplace,
providing global trade services for importers and exporters.
There are more than 200 countries and territories represented Figure 1 – B2B marketing
on Alibaba with local companies supplying a wide range of
products and services. In Asia pacific countries such as For example,Metal-junction and Tata steel become a joint
Australia, Indonesia, New Zealand, Thailand, China, Iran, venture of the steel Authority of India and has become a
Pakistan, Taiwan, Hong Kong, Japan, Philippines, South largest e-marketing for steel in the world, selling about 15000
Korea, India, Malaysia, Singapore and VietnamAlibaba doing tons of steel per month on an average and is patronized by
B2B business from a long time. 5400 steel buyers.

2.2 Personal Relationships Are More Important In B2B 3. SUPPLY CHAIN OF B2B BUSINESS
Markets A typical supply chain involves multiple business to business
An important distinguishing feature of business-to-business transactions, as companies purchase components and other
markets is the importance of the personal relationship. The raw materials for use in its manufacturing processes. The
importance of personal relationships is particularly pronounced finished product can then be sold to individuals via business to
in emerging markets such as China and Russia, which have consumer transactions. [4] Take the example of the simple
little culture of free information, historic quality problems with shirts that we buy. They do not reach your destination in the
local suppliers, and – in markets where the concept of shops by accident. There is a value chain of huge complexity
branding is still emerging – little other than their trust in the that begins with cotton or some other fiber that must then be
salesperson on which they can judge the provenance of the woven into cloth, which in turn is machined into a garment,
product or service they are buying. [3] For example,SMEDA packed and distributed through various levels until finally we
(smeda.org.pk) - Small and Medium Enterprise Development pick it from the shelf. This is illustrated in the diagram below.
Authority.That focus of the SME (small and medium Businesses sell cotton to merchants who sell it to spinners
enterprise) sector for prompting B2B personal relationship.The who sell it to weavers who sell it to garment makers and so
Small and Medium Enterprise Development Authority, SMEDA on. None of the businesses buy the products for pure
was established in October 1998 to take on the challenge of indulgence. They buy them with the ultimate aim of adding
developing and increase the relationship among Small & value in order that they can move the products down the chain
Medium Enterprises (SMEs) B2B business in Pakistan. until they finally reach us, the general public. [3]
SMEDA is relatively a new organization with a futuristic
structure and focus on providing business development
services to small and medium enterprises. SMEDA is not only
an SME policy-advisory body for the government of Pakistan
but also acts as a one-stop-shop for its SME clients

2.3 Business Transaction

Business-to-Business (B2B) marketing describes commerce
transactions between businesses, such as between a
manufacturer and a wholesaler, or between a wholesaler and
a retailer. B2B transactions often involve a large sum of
money, and so are often longer processes than a simple
business-to-consumer transaction. Trade shows are popular
ways for companies to engage each other in doing business
and are an important part of B2B selling. [5] Trade shows are Figure 2 - The Chain of Derived Demand
a common way to conduct B2B transactions. When you are
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4.1 B2B transaction through the internet

Marketing is therefore about meeting the needs of other Businesses to business or electronic commerce (e-commerce)
businesses, though ultimately the demand for the products transaction through the internet are gaining increasing in the
made by these businesses is likely to be driven by consumers Asia pacific region. One of the key drivers of e-commerce is
in their homes. [3] the penetration of internet usage. All the Asia pacific region
countries are registering a rapid growth of internet usage,
3.1 Distribution Channels-B2B goods although the number of penetration and the number of users
Most producers use intermediaries to bring their products to vary in each country.[10] According to estimate, in Bangladesh
market. They try to develop a distribution channel (marketing there are 8,054,190 about (8million) internet users and a
channel) to do this. A distribution channel is a set of penetration level of 5.0% of the population. Pakistan has a
interdependent organizations that help make a product higher level of internet penetration15.3% with about
available for use or consumption by the consumer or business 29,128,970 (29.1) million users and Sri Lanka has an
user. Channel intermediaries are firms or individuals such as estimated population of 3,222,200 (3.2)million users and a
wholesalers, agents, brokers, or retailers who help move a penetration level of 15.0% of the population. India, on the
product from the producer to the consumer or business user. A other hand, has an internet penetration of 11.4% of the
company‘s channel decisions directly affect every other population with an estimated 137,000,000 (137)million internet
marketing decision. Place decisions, for example, affect users.[24] This information gives a clear picture about the
pricing. Marketers that distribute products through mass future of B2B marketing through internet. Doing marketing in
merchandisers such as Wal-Mart will have different pricing Internet is becomes very effective. Even it is not just a place
objectives and strategies than will those that sell to specialty for marketing, now in Asia b2b transection though the internet
stores. Distribution decisions can sometimes give a product a is increasing because it is very much cost effective. For
distinct position in the market. The choice of retailers and Example,IndiaMART.com is India's largest online B2B
other intermediaries is strongly tied to the product itself. marketplace for Small & Medium Size Businesses, connecting
Manufacturers select mass merchandisers to sell mid-price- global buyers with suppliers. The company offers a platform &
range products while they distribute top-of-the-line products tools to over 1.2 million suppliers to generate business leads
through high-end department and specialty stores. The firm‘s from over 6.5 million buyers, who use the platform to find
sales force and communications decisions depend on how reliable & competitive suppliers.
much persuasion, training, motivation, and support its channel
partners need. Whether a company develops or acquires 5. B2B IMPACT ON ASIA PACIFIC REGION
certain new products may depend on how well those products B2B market is to help other business. There is less relation
fit the capabilities of its channel members.Some companies with customer. That‘s why you have to give all the facilities that
pay too little attention to their distribution channels. Others, other business need. So you should know that what actually a
such as FedEx, Dell Computer, and Charles Schwab have buyer or other business need. As they have to fulfill the
used imaginative distribution systems to gain a competitive promises that they give to their customers, so they need
advantage. [9] speed delivery, good quality and law price. For example,
Pepsi-Cola commonly called Pepsi, is a soft drink produced &
manufactured by PepsiCo. It is soldworldwide in stores,
restaurants and vending machines. Pepsi gained popularity
following the introduction in 1934 of a 12ounce bottle. Initially
priced at 10 cents, sales were slow, but when the price was
slashed to 5 cents picked up. PepsiCo gained entry to India by
creating a joint venture with the Punjab government owned
Punjab Agora Industrial Corporation (PAIC) and Voltags India
Limited. This joint venture marked and sold Lehar Pepsi until
1991 when the use of foreign brand was allowed: Pepsi
bought out ir partners & ended the Joint venture in 1994. The
strategy used for Pepsi is one of communication Adaptation &
Figure 3 – Distribution Channels-B2B goods product Extension. Product Extension mainfests itself in the
form of Pepsi being marketed in US and Europeans a side
4. Some Transaction That's Driving Growth In drink to go with pizza or lunches, In East Asia it is associated
with being hip and cool and thus there is the use of local pop
B2b Marketing
and sports stars. In India Pepsi is marketed more in terms of
Technology is changing at an unprecedented pace, and these
being a thirst quencher and being a drink that provides a lot of
changes are speeding up the pace of new product and service
fizz. The advertising in East Asia India is a always in the local
development. A large part of that has to do with the Internet.
languages. In India, Sachin Tendulkar, Amitabh Bachhan and
Technology and business strategy go hand in hand. Both are
Sharukh Khan have endorsed Pepsi. This is an approach that
correlated. While technology supports forming organization
East Asian consumers appreciate and respond to. There is
strategy, the business strategy is also helpful in technology
also the movement towards standardization of advertising by
development. For example,at present social network
using celebrities that are recognizable worldwide such as
(Facebook, LinkedIn, and twitter) b2b are heavily growing. If
soccer stars and Hollywood actors. There is also a use of
your company makessoftware and you want to show it to the
personal selling across all the four markets but this is not so
Microsoft then you can easily do this by internet, social
prevalent except for in the use of new product that are
network.
introduced in market. Pepsi also provides 26 sponsorship to
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cricket team of Pakistan and sponsors major cricket existing customers to find out whether they would buy your
tournaments in the sub continents. Sales promotions are used new product. If they wouldn't, you need to understand why.
across the 4 markets but there is the major prevalent scheme [14] For example, Chanel fashion house cannot lunch those
of ―Pepsi Stuff‖. Pepsi Stuff refers to a landmark marketing women dresses in Bangladesh such dresses they lunched in
strategy and global integrated campaign launched by America. Because Bangladeshi people are more
PepsiCo, first in North America and then around the world, in conservatives and they don‘t ware open dresses.
the 1990s and continuing into the 2000s featuring
merchandise that could be purchased with Pepsi Points. There 6.1.2 Pricing
are two way to acquire Pepsi Point: In business market you have to know how to structure your
• Collect Points from specially marked Pepsi packages pricing and payment terms well. Here you have to pay
and fountain cups. premium price more frequently than the consumer market.
• Purchase supplemental Points on the Pepsi Points This premium price would particularly achievable if you will
redemption order form, for 10cents per Point. This able to support it with a strong brand. If you are doing b2b and
sales promotion scheme though is more prevalent in your customer are only industrial or business customer or
North America [11] [26] buyers than you have to be very careful about the price. In b2c
you have to consider per unit price. The price needs to make
6. MARKETING MIX FOR B2B comfortable to the target customer because they will buy few
The term ―marketing mix‖ Was started in the 1940s; James at a time. For example mobile, cloth, car and so on. But in the
Culliton described the position of marketing manager as case of b2b in general there is no bargaining of unit price.
someone who is a ―mixer of ingredients.‖ More than a decade Buyers are buying a mass unit of product so they always want
later, Neil H. Borden published an article The Concept of the special offers in price. For example, Bangladesh Mashroom
Marketing Mix, which was an adaptation of James Culliton‘s firm buy plastic neck, plastic paper, rubber at a large bulk
original theory, who in 1948 described the role of the every month from where they get at cheapest rate.If your
marketing manager as a "mixer of ingredients"; one who product is consumer product than you have to have a good
sometimes follows recipes prepared by others, sometimes strategy for both customers and business buyers. For example
prepares his own recipe as he goes along, sometimes adapts Bangladeshi brand Speed energy drink offering a fixed price
a recipe from immediately available ingredients, and at other per unit for the customers For example,Tata Motors, maker of
times invents new ingredients no one else has tried. The the world's cheapest car, is turning to China to buy auto-parts
marketing mix included product pricing, planning, branding, unavailable in India. Because, china offering them auto-parts
distribution channels, advertising, promotions, personal in very cheapest rate. Chairman Ratan Tata said. The maker
selling, packaging, display, servicing, physical handling, and of trucks, sedans and utility vehicles may benefit from
fact finding and analysis. It wasn‘t until E. Jerome McCarthy "unbelievable" prices at Chinese component makers. [15]
grouped each aspect into four categories, or the 4 P‘s of While developing your B2B pricing strategy, it is important to
marketing. [12][13][25] remember that there is an implicit relationship between price,
value and volume. In developing your pricing strategy, it is also
6.1 M ARKETING FOUR P (4P) FOR B2B BUSINESS essential to recognize the dynamic market relationships
between price, perceived value and volume, or quantity. [16]
6.1.1 Product (or Service)
Buyers are always looking for good product or those products 6.1.3 Place (Sales and Distribution)
in which have no fault. To get the business buyer and to have It could be very critical in the business market about the
a long relation with the company must provide the product importance of knowledgeable, experienced and effective direct
correspondent with the sample or description they want. sales force. But if you want to be successful, your success is
Those who produced consumer product they have to change highly depending on their success. You have to look after the
their product in shape, color, qualities and so on. On the other distributors. Because they do invest in your product, buy it
hand those who produced industrial product they can only from the company. They place your product in the right place.
make any change in color, size, qualities and so on based on That‘s why they are exclusive for the company. What you have
how their buyer want. There has been a huge growth in the to do is to give them the right direction about the placement of
packaging of consumer products in recent years, as marketers the product. There are some differences between b2b
seek not only to protect and preserve their products, but also distributions for industrial product and consumer product.
to use the packaging as a vehicle through which aspirations Industrial product means product means producers produced
and desires are transmitted to the customer. Consumers those product which are only used by the other product or
being less rational than business-to-business buyers, this being a part of a product. And those product finally used by the
approach has proved enormously successful at adding consumer.
perceived value to products. The implications for business-to-
business marketers are clear – packaging, like product, plays
a primarily functional role. Resources are far better directed
towards developing relationships and expertise. [3] If the
product isn't being sold successfully elsewhere or is only being
sold successfully by companies with a very different company
profile from yours you need to make a realistic assessment of
the extra marketing and sales costs that are likely to be
incurred before your new product can become profitable. You
also need to carry out some "consultative research" with your
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Direct mail is regaining favor as a b2b marketing tool because

it can be highly targeted. Standard envelopes often get
trashed, but simple postcards will typically get scanned by the
recipient, and "lumpy mail ―will usually get opened. One of the
best uses of direct mail is to generate interest among potential
b2b customers in visiting your website, where they can learn
much more, and find an online contact form to let you know of
their interests. [18]
Figure 1 – B2B distribution for consumer product [17]
Newspaper advertising can be effective in building name
awareness and generating some inquiries from prospects,
although it can also be expensive. Even a small ad can run
several hundred dollars per insertion. This is one B2B
marketing tool that you can try in various forms to see what
works best.

Yellow pages are a mixed bag. The majority of people who

are searching for a business services provider in the Yellow
Pages have little money and ultimately do not become
profitable customers. Obviously plumbers and insurance
companies get business from the Yellow Pages because they
run tons of ads in the phone book. [18]

Email newsletters are great way to convert traffic to your

website into a growing group of potential customers. Email
newsletters require someone who is a skilled writer and who
Figure 2 – B2B distribution for industrial product [17]
has the time and interest to produce it. Even a monthly email
newsletter can be a great way to keep people informed about
Those who directly sell product to the company or usually the
what you're doing, offer helpful information, build your
company buyers are come to buy product from you. They
reputation as an expert, and keep "top of mind" awareness for
always look for a very food communication facility. They will
your company and its services.
look for how quickly the transportation is possible and mostly
they prefer near to the company.
Trade shows are proven winners for B-to-B marketing,
especially if you have a product to sell. In many industries,
6.1.4Promotion
trade shows are highly effective for concentrating potential
A good promotion planning for business market is not a less
buyers from across the country in one place (International
important than b2c. To achieve success you need to create
Trade-Fair-in-Bangladesh).
your brand. However, it couldrelatively easy when you know
tools to promote your business.
Radio and TV are generally not cost-effective B-to-B
6.1.4 B2B marketing tools to promote business marketing tools. That's because the vast majority of the
audience you are paying for are not potential customers - not
A brand name communicates your business distinctively. A business owners and decision-makers. If you do want to try
strong brand is not less important to the B2B marketing. In broadcast advertising, consider Cable TV. It is surprisingly
B2B markets, brand will only help you be considered, not cost-effective and lets you select a cluster of channels that are
necessarily chosen.Business buyers are using more rational more likely to be viewed by business people than some
thought when selecting a product or service for their others. [18]
company.They are motivated by saving money, increasing
productivity or raising profitability 7. B2B MARKET SEGMENTATION FOR ASIA PACIFIC
REGION
A distinctive logothat you can use on all your marketing Regarding consumer needs, demands and behavior, it is rare
materials that will serve as a graphic symbol of your brand. to find only one type of customer. Every customer is unique. It
Don't settle for a cheap one because this is one of the most is financially and time wise ineffective to develop specially
important symbols of your business as a whole. The good logo tailored offers for every single customer. For the variety of
is important for b2b marketing. For example, Apple, Nike tasks connected to marketing management it is useful to
Nissan, Volvo. assort customers to certain market segments (Kotler, Keller
2009; Lošťáková 2005). Segmentation variables represent the
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criteria which influence the behavior of buying companies in  A price-focused segment, which has a transactional
some way, and are also in the frame of their behavior outlook to doing business and does not seek any
significantly different. According to (Lošťáková 2005) these ‗extras‘. Companies in this segment are often small,
criteria can be split into so called firmographic variables such working to low margins and regard the
as end use segment or customers´ company size, situational product/service in question as of low strategic
variables such as preferred benefits and production variables importance to their business.
such as customers´ sales volume or competitive position of  A quality and brand-focused segment, which wants
customer. [19] the best possible product and is prepared to pay for
it. Companies in this segment often work to high
7.1 Companies can consider several different variables margins, are medium-sized or large, and regard the
in their segmentations. product/service as of high strategic importance.
 Behavior  A service-focused segment, which has high
 Profitability / Lifetime Customer Value requirements in terms of product quality and range,
 Benefit / Attribute [Conjoint Analysis] but also in terms of after sales, delivery, etc. These
 Use or Application companies tend to work in time-critical industries and
 Product Class can be small, medium or large. They are usually
purchasing relatively high volumes.
 Price/Quality Demands
 A partnership-focused segment, usually consisting
 Competitor
of key accounts, which seeks trust and reliability and
regards the supplier as a strategic partner. Such
In Low-involvement product offerings, companies can consider
companies tend to be large, operate on relatively high
researching usage behavior, buyer behavior, price elasticity /
margins, and regard the product or service in question
sensitivity and brand loyalty, among others. For high and
as strategically important[22]
medium involvement products, businesses can consider
researching their customers' comprehensive needs, buyer
types, business' buying behavior and core values, among 8. TARGET MARKET SEGMENTATION OF B2B
many others. [20] Target market segmentation is especially important in B2B
markets, as there is often little to differentiate one product from
7.3 Some point for b2b market segmentation another. Target market segmentation is closely linked with the
To segment your market you have to keep in mind about the positioning strategy of a company. Considerations in the
nature of the buyers. Those are, positioning strategy are subsequently taken into account in the
design of inbound marketing campaigns.[23] Target markets
7.2.1 B2B buyers are more ‘rational’ are grouped by common measures such as:
The view that b2b buyers are more rational than consumer
buyers is perhaps controversial, but we believe true. Would 1. Geographic Target Market Segmentation — for instance,
the consumer who spends $3,000 on a leather jacket that is a target audience that does business in a particular language,
less warm and durable than the $300 jacket next-door make a city, state/province, or country
similar decision in the workplace? Consumers tend to buy
what they want; b2b buyers generally buy what they need. [22] 2. FirmographicTarget Marketing Segmentation — a
For example, a customer may need a good jacket, but due to company‘s number of employees, industry or income bracket
lack of many he wanted to buy a normal jacket. On the other can define a target audience
hand, a b2b buyer will buy what is needed to support his
product not what is he want. 3. Psychographic Target Market Segmentation — this kind
of target market segmentation is especially useful for repeat
7.2.2 B2B target market are smaller than consumer target clients, who may be drawn to anything from the price range,
market quality levels or the delivery terms
Almost all b2b markets exhibit a customer distribution that
confirms the Pareto Principle.A small number of customers 4. Need-Driven Target Market Segmentation - this can be
dominate the sales ledger. Nor are we talking thousands and the most difficult target audience to assess, but also one of the
millions of customers. It is not unusual, even in the largest b2b most fruitful. Ask, what is the motive behind a purchasing
companies, to have 100 or fewer customers that really make a decision? What factors play into a company‘s decision-
difference to sales. One implication is that b2b markets making? [23]
generally have fewer needs-based segments than consumer
segments – the volume of data is such that achieving enough The target market for a business product or service is smaller
granularities for more than 3 or 4 segments is often and has more specialized needs reflective of a specific
impossible. [21] industry or niche.[3] A B2B niche, a segment of the market,
can be described in terms of firmographics which requires
7.2.3 B2B markets have fewer behavioral And Needs- marketers to have good business intelligence in order to
Based Segments increase response rates. Regardless of the size of the target
It is noticeable that the behavioral and needs-based segments market, the business customer is making an organizational
that emerge in b2b markets are frequently similar across purchase decision and the dynamics of this, both procedurally
different industries. Needs-based segments in a typical and in terms of how they value what they are buying from
business-to business market often resemble the following: you.[3] For example, In Bangladesh, BKash is a subsidiary of
BRAC Bank Limited, and is authorized by the Bangladesh
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