Question

(Marketing perspective) Provide your reasonable arguments on the significance of B2B markets. Debate that whether such significance is more important than B2C markets. Give examples where appropriate.

Answer 1

Significance of B2B

1. Hyper targeted : The B2B market has to influence the customers via advertising or good branding thus it is difficult and an important task to accomplish a relationship with the customers while B2C has to just sell the product to the customer and if the branding is attractive enough , the work of B2C market becomes very simple.

Hence the work of B2B is more important than the B2C because if people are not attracted to the brand thye will not buy it no matter how many efforts the B2C does.

2. Long time : To convert customers , B2B takes very long time but B2C can convert the customer in a very short time because the poeple have already decided if they have to buy this product or not depending upon the brand and quality the B2B offers.

3. Motivation : B2B markets are motivated enough because the entire profit depends upon their efforts . If they work nicely, they are more likely to rule the particular area. But if B2C is compared, definitely B2B is more important here because more motivation is required for B2B marketers rather than B2C.

4. Maintaining open communication : The B2B helps in maintaining the relationship by keeping the communication and feedback open as the people can directly share their feedbacks with the business itself. It is more important than B2C because people prefer interacting with the business and get problems solved.