B2B Marketing is the marketing strategy that involves marketing services and products to enterprises to make them operate easily. It differs from B2C marketing where the consumer is the main consideration. Some of the popular markets for B2B markets are government, exporters, manufacturers, suppliers and resellers. Their main focus is to sell their products and services to different enterprises. The type of [services and products as well as the kind of enterprises that are aimed at while marketing distinguishes B2B from B2C marketing. B2B tries to promote products that can help other enterprises to operate which includes raw materials, spare parts, equipments for supplies and production.
In case of B2B, transaction is done between a wholesaler and a manufacturer. It can also involve a retailer and a wholesaler. Another factor that differentiates B2B from B2C marketing is the process involved in purchase. Emotional considerations are given more importance than the logical while making decisions related to sales in B2C marketing. The cost that is associated in B2B is quite greater than that of B2C. An enterprise will buy a product or service only if it promises to help in achieving the goals of the enterprise. This happens because the key focus in B2B market are knowledge and information.
Nowadays, this type of marketing is widely used on the Internet because many enterprises are operating online. Conducting business for enterprises that deal with import and export is very convenient on the internet. Internet is useful for such organizations because it offers some advantages over the conventional methods of conducting businesses. It enhances the operations of the system by enhancing the supply chain management. Also it improves the content of the product and the messaging system used within an enterprise. Further, it increases the ROI (Return of Investment) by improving the overall growth of an enterprise.
Technological advancements have increased the efficiency of the way by which business transactions take place. B2B Marketing can be done effectively and efficiently using E-commerce. B2B shortens the length of selling cycle and reduces the cost involved in marketing and selling. E-commerce enables transfer of funds between two enterprises using Electronic Data Interchange. Just in time delivery helps to maintain an inventory and prevents a company from overstocking. E-commerce helps in keeping a track of goods using Just in time delivery. B2B is one of the most effective marketing strategy to improve the productivity and profit of an enterprise in a cost-effective manner.