Question

How can the B2B Marketing theory, Resource-Based View theory, and the Contingency theory relate to the complex, real-world problems common to the practice of B2B marketing?

Answer 1

B2B marketing theory: this refers to business to the business strategy where firms deal where one is Distributer, And one is the wholesaler. The sale is in bulk and where no end consumer is involved.

Resource-based theory suggests that resources that are valuable, rare, difficult to imitate, and nonsubstitutable best position a firm for long-term success. These strategic resources are placed so that the resources could be used in an optimum manner, and the cost is involved could be reduced and low wastage there.

Contingency approach is a situational approach stating that there is no one universally applicable set of management principles to organizations.

We can relate all these above terms with the complex, real-world problems common to the practice of B2B marketing in a way, as we know that today every market has its competitors, all business has its own set of principles, mission, and vision too. Moreover, resources are less, so it is not easy to work with fixed principles every company and every business and organization we deal. At every s with, we have to keep in mind the business's goal while dealing, the trading we are using, their cost and availability, and the situation that arises while taking the decisions. As we know, the market is tight and full of competition, and challenges that might influence decision-making, the external and internal environment also play an essential role.

It means we have to keep in mind the market's current situation and the customer's needs and wants while producing the products.