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Critical Elements of Business & Consumer Marketing
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Essay Subject:
Compares & contrasts business marketing (the sales from business to business) with consumer marketing (the sales from business to consumer).... More...
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Paper Abstract:
Compares & contrasts business marketing (the sales from business to business) with consumer marketing (the sales from business to consumer).

Paper Introduction:
Critical Elements of Business and Consumer Marketing Introduction The essential similarity between business marketing and consumer marketing is of course, sales. Business marketing takes into account such widely used terms as industrial marketing, organizational marketing, and business-to-business marketing. Business marketing is the intermediary marketplace between the wholesale and retail markets. In a very real sense, the business marketplace is the final rung on the ladder, before the retail market redefines the cost, placement, and packaging of products that have already been created, sold, and placed on the world market. If business marketing is built more around the nuts and bolts of bulk products, then consumer marketing is much more concerned

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Materialsassembled for business sales are considered to be work in progress, movingtoward the next step, finished goods and parts. Marketing Management Business marketing and marketing management are connected functions,and both deal with distribution, one of the finished value-added product,the other with the mass-marketed institutional product. For customers who are buying for more individual, short-termsituations, where quality is desired, consumer marketing will run the show. Control of retail shelf space must be had,along with local promotional programs and whatever value-added categorymanagement is available. Critical Elements of Business and Consumer Marketing Introduction The essential similarity between business marketing and consumermarketing is of course, sales. The reason behind including these organizationsas part of the customer base of business marketing is that formalized needsin great quantities create a competitive environment. The use of inventory, of course, takes on anew dimension as store management has to scramble to keep pace with thecompetition. The role of businessmarketing is to place the raw product, for value added purposes, in rangeof the industrial or institutional market. Thebusiness marketer must construct and present a product that conforms tovery specific needs and dimensions. In the case of materials management,decisions must be made concerning cost and acquisition in regard tosuppliers. Consumer marketing depends a greatdeal more on the ability of those involved to notice a change in direction,to keep the profit margin up, and the current flowing. In point of fact, a consumer can be defined as an individual whopurchases goods and services for self-gratification. If the consumer marketer's home office has done their job correctly,then they can provide a recognized product at a competitive price. If business marketing is built more around the nuts and bolts of bulkproducts, then consumer marketing is much more concerned with micro-managing the evolving consumer marketplace. Business customers' requirementstypically are thoroughly specified and more technically complex. While consumer marketing takesinto account some of the same methods and modes of operation as businessmarketing, it tends to move much faster than business marketing in terms offinal outcome. The customer orinstitution who buys at the business marketing level wishes to add value tothe product in a manner that will be perceived by the customer as morenecessary. Business marketing concerns raw or semiprocessed material is carriedto appropriate sites, in exchange for the wholesale or manufacturer'sprice. Business customers usually are organizations, with the possibleexception of single proprietor businesses. As such, a businessmarketer sells goods and services to other businesspeople, businesses,institutions, and organizations. Performance andprofit share are key. The difference between business marketing andconsumer marketing revolves around quantity and price. The second half of business marketing management dealing withthe physical distribution of material, becomes the more intensive in thedecisions of which products go where, for how long, and at what price. Then, considering the quantities of finished product necessaryto deal in consumer marketing, distribution of the product with localadaptation is needed. Deep and thorough consumerresearch to understand all the possible segmentation dimensions of theproduct in question are necessary. The customer involved in businessmarketing is buying a product or service for resale. Business Marketing Further Explained Business marketing describes those situations in which individuals orgroups purchase products or services for resale, for use in producing othergoods, and for the daily operation of an enterprise. Once again rational economicconsiderations need to be made, qualifying such issues as potential demand,inventory levels, shelf-space availability, promotional support, andprofitability of the product. Business marketing is usuallyemployed throughout the distribution channel up to the time of sale of theproduct to the retailer. In themacro-sense, marketing management does understand the need to acquire thebest product at the lowest per unit cost. In the area of customer marketing emphasismust be switched to more individuated markets, selling the peripheralaspects of products, and price. Next, presentation of the product must occur at themost promising sales points. While thestyles of business marketers and consumer marketers are somewhat similar,the differences between the two groups are of equal importance. The product or serviceis worth more to the consumer in the short-term, because the product is insome way more precious, or perishable. In the case of business marketing, the process of management beginsbefore any product ever hits the shelves. The role of marketing management is to place ahighly valued, consumable product on the shelf. Thoseindividuals with expertise in materials acquisition set about finding thebest cost on finished products. Marketing Styles Marketing must be perceived as somewhat of a hands-on operation, withalmost nothing occurring by itself, or without good reason. Everything becomes a matter oflogistics, with the process being divided between materials management andphysical distribution management. The process of searching for thisproduct can range throughout world markets, as business marketing sometimesranged world wide searching out the best price. If businessmarketing can be said to about a large-scale stream of decision making,then consumer marketing must be perceived as deciding on the smallestdetails of decision making. Physical distribution management takes over at this point, directingthe outward flow of products. Business marketing is the intermediarymarketplace between the wholesale and retail markets. These considerations are not normally a part inthe consumer's decision making process. First, management must focus on the availability of whatevercategory of product they are trying to provide. Inventory is directed to business marketingsales points. Customer Marketing Further Explained As noted in the last paragraph, the retail customer makes purchasesbased on different criteria than the business customer. Both use the same methodologies in the microand macro ends of decision making. In business marketing, the purchasing decisions made throughout thedistribution channel are based on sound, rational economic considerationsinvolving such issues as potential demand, inventory levels, shelf spaceavailability, promotional support offered by a manufacturer, and theprofitability of a product. The stream may jump it's banks, change it's generaldirection or stop flowing altogether. In a very real sense,the business marketplace is the final rung on the ladder, before the retailmarket redefines the cost, placement, and packaging of products that havealready been created, sold, and placed on the world market. This includes federal, state, and localorganizations -- this includes hospitals, churches, prisons, schools,colleges, and universities. Within the decisions regarding suppliers are other decisionsregarding raw materials, components, sub-assembly routines, and peripheralsupplies. They are tied toeach other by the need to route and control raw products for wholesale, andfinished products for retail. This means that thebuying decisions of nonprofit organizations are more like decisions made byprofit-making businesses than to purchasing decisions made by customers.In business marketing the purchase is made to achieve organizationalobjectives. Business Marketing vs. Management must be able to recognize profitableshare gain or lose, by reading shelf life of products. Business marketing also includes a range of organizations that do nothave as their primary goal, profit. By example, businessmarketing can include the sale of aircraft, truck fleet maintenance,advisory services, institutional services, and telecommunications.Economies of scale are involved, which takes into account governments,companies, institutions, unions, and customers. Consumer marketing in turn can be represented by a swiftly flowingstream, with the relative strength to move only certain kinds of items fora limited distance. In the case of consumer marketing the inner processes of marketingmanagement are remarkably similar to those of business marketing. The managerial staff in business marketing rely on certain principlesin order to find a working product line, and keep customers returning totheir stores. But they are catering to aconsumer market that spends, in the simplest of terms, to consume. Once the product line isfound, along with attendant delivery and price consideration, acquisitionmust occur. These can be government on all levels, institutional users,OEMs, distributors, and end users. In short, the individuals who run marketingmanagement could not do the job of business marketing, without seriouslyconsidering the differences in quantity, quality, and distribution. Consumermarketing fits neatly inside the policies of business marketing, using thesame methods to place the correct product on the store shelf, at theoptimum time, and at the best price. Lastly, management must behave as if ever categorythat they stock belongs to them, a sense of control over sales space isneeded. Business marketing takes into account suchwidely used terms as industrial marketing, organizational marketing, andbusiness-to-business marketing. For customers withvery specific needs, who can buy in mass quantities, business marketing isthe key. Therelative success of business marketing is highly dependent on what itemsare purchased, how they are purchased, when they are purchased, and thereliability and consistency of those goods. Once these decisions are made, and materials are moving towardassembly points, the work of materials management is almost done. Without this quality, neither price noravailability can be met.

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