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0103

Problem

What are the chief differences between consumer-goods marketing and business marketing? Use the following matrix as a guide in organizing your response:

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Business Marketing:

It involves marketing of products and services across the globe in huge quantities to government bodies, institutions and businesses. The corporate procurement involves major share in terms of the marketing. It witnesses a single buyer can account for enormous level of purchasing activity.

Consumer–goods marketing:

The giant business retailers selling product and services for personal consumption or to the end users are termed as ‘Consumer-goods marketing’.

The major differences between business marketing and consumer-goods marketing are organized in the following matrix table:

Details	Consumer- goods marketing	Business marketing

Customers	It involves consumption of personal or end users	It involves corporate procurement or single buyer bulk purchasing quantity
buying behavior	The purchasing depends on the requirements at that point of the user	It involves purchasing in bulk quantities with future forecast and major consumption
Buyer-seller relationship	Short – term relationship	Long and highly bonded relationship
Product	These are manufactured to meet the requirements of the consumers	The demand for the product is comparatively high
Price	It is a maximum retail price	It involves high discounted prices
Promotion	Highly required to meet the target consumers	The demand sustains with the organizational or institutional requirements
Channels	It involves various channels of marketing	It involves direct dealings that avoids middle-men and reflects profitable returns