Scribd Logo
Upload

Welcome to Scribd!

  • 7 views

    5.2 B2B Rel MKT

    Uploaded by

    Abhinav Jaiswal
    Business-to-business (B2B) marketing refers to marketing products and services to other businesses, and differs from business-to-consumer marketing in focusing on building relationships rather than transactions. Relationship marketing emphasizes customer retention by providing excellent service, feedback, and rewards to build loyalty. The benefits include increased lifetime customer value from repeat purchases, lower marketing costs as loyal customers advertise through word-of-mouth, and stronger company alignment around satisfying customers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    5.2 B2B Rel MKT

    Uploaded by

    Abhinav Jaiswal
    7 views2 pages
    Business-to-business (B2B) marketing refers to marketing products and services to other businesses, and differs from business-to-consumer marketing in focusing on building relationships rather than transactions. Relationship marketing emphasizes customer retention by providing excellent service, feedback, and rewards to build loyalty. The benefits include increased lifetime customer value from repeat purchases, lower marketing costs as loyal customers advertise through word-of-mouth, and stronger company alignment around satisfying customers.

    Original Title

    5.2 B2B Rel Mkt

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Business-to-business (B2B) marketing refers to marketing products and services to other businesses, and differs from business-to-consumer marketing in focusing on building relationships rather than transactions. Relationship marketing emphasizes customer retention by providing excellent service, feedback, and rewards to build loyalty. The benefits include increased lifetime customer value from repeat purchases, lower marketing costs as loyal customers advertise through word-of-mouth, and stronger company alignment around satisfying customers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    7 views2 pages

    5.2 B2B Rel MKT

    Uploaded by

    Abhinav Jaiswal
    Business-to-business (B2B) marketing refers to marketing products and services to other businesses, and differs from business-to-consumer marketing in focusing on building relationships rather than transactions. Relationship marketing emphasizes customer retention by providing excellent service, feedback, and rewards to build loyalty. The benefits include increased lifetime customer value from repeat purchases, lower marketing costs as loyal customers advertise through word-of-mouth, and stronger company alignment around satisfying customers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 2

    PRINCIPLES OF MARKETING (UNIT 5.

    2: Business-to-Business Marketing & Relationship Marketing)

    Concept of Business-to-Business Marketing (B2B Marketing)

    As the name suggests, business-to-business marketing refers to the marketing of products or services to
    other businesses and organizations. It holds several key distinctions from B2C marketing, which is oriented
    toward consumers. Business-to-business (B2B), also called B-to-B, is a form of transaction between
    businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and a retailer. Business-
    to-business refers to business that is conducted between companies, rather than between a company and
    individual consumer. Business-to-business stands in contrast to business-to-consumer (B2C) and
    business-to-government (B2G) transactions. Business-to-business transactions and large corporate
    accounts are commonplace for firms in manufacturing. Samsung, for example, is one of Apple's largest
    suppliers in the production of the iPhone. Apple also holds B2B relationships with firms like Intel,
    Panasonic, and semiconductor producer Micron Technology.

    The difference between B2B and B2C marketing is noted as follows:

     Customer relationships: While B2B marketing focuses on building personal relationships, B2C
    marketing has a bit of a more transactional focus.
     Branding: In B2B marketing, branding is more focused on positioning while in B2C marketing, it
    is more about messaging.
     Decision-making: In B2B marketing, B2B businesses strive to maintain open communication in
    the decision-making process. For B2C marketing, businesses strive to make the process as quick
    and easy as possible.
     Audience targeting: While B2B marketing involves finding a niche for audience targeting, B2C
    marketing is a little more funnel focused.
     Ad copy: In B2B marketing, ad copy tends to use the terms their clients are familiar with, while in
    B2C marketing, ad copy can be more playful and emotional.

    Concept of Relationship Marketing

    Relationship Marketing is a strategy of Customer Relationship Management (CRM) that emphasizes


    customer retention, satisfaction, and lifetime customer value. Its purpose is to market to current customers
    versus new customer acquisition through sales and advertising. A good relationship marketing strategy is
    rooted in building customer loyalty and lasting, long-term engagement with your customer base.
    Benefits include increased positive word-of-mouth, repeat business, and a willingness on the customer's
    part to provide valuable feedback to the company and their peers. There are several types of activities
    brands can use to facilitate relationship marketing, including:
     Provide exceptional customer service, as customers who are consistently impressed by a brand’s
    customer service are more likely to remain loyal to the brand.
     Thank customers through a social media post or with a surprise gift card.
     Solicit customer feedback through surveys, polls, and phone calls, which can create a positive
    impression that customer opinions are valued and help to create better products and services.

    Some of the benefits of relationship marketing include:


     Higher customer lifetime value (CLV): Relationship marketing creates loyal customers, which
    leads to repeat purchases and a higher CLV. In addition, loyal customers are likely to become
    brand advocates or ambassadors, recommending products and services to friends, family, and
    business associates.
     Reduction in marketing and advertising spend: Spending on marketing and advertising to
    acquire new customers can be expensive. Relationship marketing causes customers to do the
    marketing for a brand, in what is called buzz marketing. Customers tell others about a brand’s
    products and services, which can drive sales. Brands with exceptional relationship marketing
    programs spend little to no money on marketing or advertising.
     Stronger organizational alignment around the customer: Organizations that emphasize
    relationship marketing have a stronger organizational alignment around an exceptional customer
    experience. The teams work together to create satisfied and happy customers over the long term.

    You might also like