Marketing In The Arena Of Business Information

In the information age, business information is an increasingly valuable asset

. At its most powerful, it aids management, decision making and can give a company a competitive edge over its rivals. In todays environment where knowledge is power, those who own the best information and use it most effectively also control the market. Business information industry provides the means to predict the actions of both customers and competitors.

Todays business industry environment is complex and dynamic and as we move into the information age the pace of change and degree of complexity is increasing. In this environment, business leaders and managers must keep in close contact with the market. Even in lean, efficient and horizontally structured businesses, it is sometimes hard for a manager to understand the market in which a company operates.

A business to business market is one where the customer is considered as an organization rather than an individual consumer. Recent years have seen growing prominence for service dominant logic is that whatever it may be that customers buy tangible goods, intangible services or a combination of the two in all cases it is services that generate the value that customers desire. Conduct the necessary research to completely understand your customer so you can imagine yourself in his skin, going about his day and coming across your sales message. Understand your market and create a product or a service that people want. Dont create the product first and then try to find customers to buy it.

Business to business markets are characterized by higher concentration varies from market to market and it is important to have some means of comparing markets to establish just how highly concentrated they are. The standard measure that is used is the concentration ratio. A concentration ratio is defined as the combined market shares of the few largest firms in the market, as the oligopoly group of firms in the market.

The growing use of smartphones will impact the Business Information (BI) industry and how users access BI content. In fact, by 2013, 33 percent of BI functionality will be consumed via handheld devices. The fast proliferation of smartphones with larger screen sizes (such as the iPhone, Android devices and Windows Mobile 7 phones), paired with the expected ubiquity of tablet-size devices (such as the Apple iPad and Samsung Galaxy Tab), will change quickly the ever changing scenario of marketing and technology.

by: Dataguru

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