This week in Unit 6: Business Marketing we’ll be learning about how other organizations can be a target market for some industries or products. Business marketing is also often referred to as Business to Business marketing or B2B, and includes the presentation of a product or service from one business to another. Think of a business such as your favorite coffee shop. They need a plethora of goods and services in order to operate. Perhaps they hire a cleaning service to come in and clean the shop after the store closes for the night. They likely order cups and lids among other paper goods from a manufacturer. The coffee house likely provides WiFi so that customers can work on their phones or computers from the store which they purchase from a telecommunications company. Before a business owner decides which service providers to contract with and which goods manufacturers to purchase from, marketing helps to showcase the benefits of various choices.As you learn more about Business Marketing in this unit, think about what ways you’ve encountered B2B marketing, and how marketing departments need to cater their approach when marketing to other businesses versus independent consumers.By the end of this unit, you should be able to:
Describe theories of consumer decision-making
Describe the stages of the buying process
Describe how B2B customer transactions differ from B2C customer transactions
Differentiate between the promotional methods and tools used in B2B versus B2C marketing
In order to successfully complete this unit, you’ll need to do the following:
1. Read this Open Educational Resource (free to access): Business Marketing1 (Pages 89-116)
Please note: you do not need to complete the activities listed in this resource.
2. Watch this video from The Business Professor on what exactly B2B marketing is.
As always, if you need more information, you can ask me a question. For information on due dates, check our Course Schedule.
1CC LICENSED CONTENT, SHARED PREVIOUSLY Curation and Revision. Provided by: Boundless.com. License: CC BY-SA: Attribution-ShareAlike
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