B2C and B2B Marketing Overview

Business to Consumer (B2C) marketing occurs when a company sells goods or services directly to individual consumers.
Consumers typically purchase products for individual or family use.
Consumers make purchase decisions individually and may consult friends or family for recommendations or follow influencers on social media.
B2C transactions involve smaller quantities and lower monetary values.

Business to Business (B2B) marketing happens when companies sell goods or services to other businesses.
B2B goods are often bought for use in manufacturing other products, for resale, or for further customer service.
Decision-making units (DMUs) are involved where multiple people participate in the decision-making process for purchases within an organization.
B2B transactions frequently involve large quantities bought less frequently and higher monetary values.

Enhanced customer connection and tracking.
Personalized focus and response to customer needs through social media and mobile platforms.
Optimized resource allocation through marketing research, targeting specific customer segments and avoiding wasted resources.
Improved customer satisfaction by ensuring easier access to desired products.
Cost savings through targeted marketing efforts.

Kotler & Armstrong (2012) define marketing as "managing profitable customer relationships." Its objectives are attracting new customers by offering superior value and retaining & growing current customers through satisfaction.
The Chartered Institute of Marketing (CIM, 2024) describes marketing as "the management process responsible for identifying, anticipating, and satisfying customer requirements profitably."

A market represents a group of people willing and able to buy a company's products.
Marketing is the process of identifying and attracting these potential customers within the market.

Marketing is customer-centric and focuses on needs and wants.
Needs are essential requirements for survival (e.g., food, water, clothing).
Wants are culturally shaped desires for goods and services, beyond basic needs.
Value represents the ability of a product or service to satisfy a customer's need.
Exchange refers to the process of giving something in return for something else (e.g., money for products).

Individuals may utilize marketing to build their personal brand and attract followers (e.g., social media influencers).
Politicians employ marketing strategies to gain votes and win elections.
Marketing applies to various areas like event marketing, tourism, and destination marketing.

Promotion of materialism, encouraging overconsumption based on availability rather than actual need.
Exacerbation of environmental problems due to increased demand and production.
Fostering a disposable culture, where products are replaced with new versions despite functionality.
Adding excessive markups on certain products (e.g., iPhones).

Companies operate within an environment influenced by internal, micro, and macro factors that impact their success.
The internal environment encompasses factors directly within the company.
The micro environment includes factors within the industry but outside the company, such as suppliers, distributors, and competitors.
The macro environment comprises broader external forces beyond the company's control, like economic conditions, technology, and regulations.

Organizations assess their strengths and weaknesses (internal factors) and identify external opportunities and threats to develop strategic plans.
Matching strengths with opportunities allows for the pursuit of favorable business ventures.
Avoiding opportunities beyond the company's capabilities helps prevent failure.

Companies aim to gain a competitive advantage by offering superior products and services that appeal to customers and differentiate them from rivals.

Suppliers are crucial sources of raw materials and resources.
Distributors facilitate product movement to customers.
Maintaining strong relationships with both suppliers and distributors is vital for businesses to ensure supply chain stability, favorable treatment, and access to market opportunities.

Step 1: Need Recognition: The process begins when a consumer recognizes a need or wants.
Step 2: Information Search: The consumer actively seeks information about potential solutions to address the need. Information sources can be internal (memory) or external (word-of-mouth, store visits, etc.).
Step 3: Alternative Evaluation: Consumers evaluate different options, considering factors like price, quality, brand reputation, features, and benefits to find the best fit.
Step 4: Purchase Decision: Consumers choose a specific product or service based on preferences, budget, perceived value, and other factors.
Step 5: Post-Purchase Behavior: Consumers reflect on their purchase and assess their satisfaction with the product or service, which influences future buying decisions and brand perception.

Marketing research encompasses gathering, analyzing, and interpreting marketing information to inform decision-making.
It helps in answering questions such as: Identifying target customers, segmenting the market, identifying relevant product and service offerings, understanding competitors, and defining the target customer profile.