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Problem

What are the major differences between consumer and business to business market research?

Step-by-step solution

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Step 1/3

Market research is the main focus for any effective program in marketing. This is mostly when any manager is planning to enter any foreign market. Market research determines the targeted customers, buying decision of customers and potential sales of customers.

Step 2/3

Market research helps managers to determine competitors approaches and their motives. Business decisions should be made, after ample information is gathered to reduce risks and uncertainties. In the setting of business to business, market research is used for examining, competition, forecasting, searching market potential, developing trends and developing sales quotas and forecasts.

Step 3/3

The marketers of product and consumers both conduct research in relation to product acceptance and product attributes. Consumer market research deals with packaging and marketing. Business market research determines members of buying centers and aims at market potential. The major differences between consumer and business to business market research are as follows:

Table1. Differences between consumer and business to business market research