Marketing Assignment

Question

How different is B-to-B marketing? Take a position: Business-to-business marketing requires a special, unique set of marketing concepts and principles or Business-to-business marketing is really not that different and the basic marketing principles apply.
� Think of various product categories. How would you classify yourself in terms of the various segmentation schemes? How would marketing be more or less effective for you depending upon the segment involved?
� Do you have rules you employ in spending money? Do you follow Thaler’s four principles in reacting to gains and losses?
� Is mass marketing dead? Take a position: Mass marketing is dead or Mass marketing is still a viable way to build a profitable brand.

Answer:

Marketing segmentation B2B and mass marketing

 

  1. How different is B-to-B marketing?

In business-to-business (B2B) marketing, businesses make use of a multi-layered strategy comprising of media campaigns, web communications, email, and relationship management to generate customers out of targeted business prospects (Keller, 2006). Business-to-business marketing is different from other forms of marketing because it involves the use of a special, unique set of marketing principles and concepts.

In B2B marketing, promotional efforts are directed to businesses and not individuals. This is different from business-to-consumer marketing, which involves marketing products to individual consumers. The experience involved when one is buying a product for own use is completely different from the experience involved when one is buying the product for his or her company. In the former case, the consumer goes through the emotional experience that comes with the possession of a new product. For this reason, there are certain unique marketing principles and concepts that B2B marketers must put into consideration when undertaking their various activities.

Order Now

For instance, it is not appropriate for a marketer to use consumer-focused strategies when marketing B2B businesses. This will just increase the cost of marketing without bringing about any corresponding increase in the company’s business opportunities. Although the programs used for both B2B and business-to-customer (B2C) marketing are the same, differences arise in the way these programs are executed, what marketers say, and most importantly, the outcome of various marketing activities. To derive particularly outcomes, marketers engaging in B2B marketing have to use unique marketing principles and concepts.

  1. Product categories and segmentation schemes

It is possible for various products categories to be classified according to different segmentation schemes. In this process, the objective should always be to ensure that the segments involved increase the effectiveness of the marketing activity. The core segmentation schemes to focus on include geographic, psychographic, demographic, and behavioral schemes (Keller, 2006). Marketing becomes more effective when the marketer matches the right product with the right segmentation scheme. For example, some products are best suited to highly educated people from affluent neighborhoods while others should only be directed at poor slum dwellers.

  1. Do you have rules you employ in spending money? Do you follow Thaler’s four principles in reacting to gains and losses?

There are certain rules that I adhere to when spending money to ensure that my savings are constantly increasing. However, I sometimes find it difficult to adhere to Thaler’s four principles relating to response to gains and losses. For instance, sometimes I live beyond my means by borrowing money with the aim of increasing consumption. Moreover, during emergencies, I find it extremely difficult to cut consumption. However, since I became employed, I have always succeeded in keeping a bank account for a rainy day. I never use the money in this account except during emergencies.

  1. Is mass marketing dead?

Mass marketing is still alive. This type of marketing remains a viable way of building a profitable brand (Keller, 2006). It will always remain alive as long as products with a massive market still exist, whose manufacturers can afford to invest in massive advertising (Keller, 2006). Although mass marketing involves very high costs, manufacturers of mass products adopt it in the confidence that they will soon recoup these costs through huge sales.

Moreover, many owners of advertisement agencies are still confident that the traditional 30-second TV advertisement should form the foundation of all marketing campaigns (Keller, 2006). Additionally, in today’s information age, millions of marketing professionals continue to rely on the internet as a tool for creating awareness about their products and services. Indeed, if properly used, the internet is a source of infinite possibilities for marketers. Many people have succeeded in using the internet to establish start-up businesses, which they advertise to the mass global audience in the comfort of their homes via the internet.

 

References

Keller, K. (2006). Marketing Management. New Jersey: Pearson Books.

Get a 20 % discount on an order above $ 10
Use the following coupon code :
tpc20
Our Services:
  • Essay
  • Custom Essays
  • Homework Help
  • Research Papers
  • Argumentative Essay
  • Assignment
  • College Papers
  • Powerpoint Presentation
  • Dissertation
  • Thesis Paper
  • Dissertation
  • Editing Services
  • Review Writing
  • Lab Report
  • Book Report
  • Article Critique
  • Case Study
  • Coursework
  • Term Paper
  • Personal Statement
Order a customized paper today!