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Problem

What are the 12 major differences between B2B and consumer marketing? How would these differences affect formulating a B2B strategy?

Step-by-step solution

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Step 1/3

Businesses which buy goods or services to be utilized in the production of goods and services which are sold, rented, or provided to others are included in the business-to-business market. Additionally, it covers retail and wholesale businesses which buy products to resell and rent them to other people (Kotler and Armstrong, 2001).

Step 2/3

The 12 major differences between B2B and consumer marketing and the ways in which these differences would affect formulating a B2B strategy are as follows:

• Internal to company: These include factors like variations in the duties of product management responsibilities, marketing strategy=corporate strategy departments' interdependence.

• Customer/marketing: These include factors like more thoughtful choices, more purchasing effects and places, narrower customer base, various segmentations, more channels as well as markets, a greater emphasis on one-on-one interactions with customers.

• Uncontrollables/environment: These include factors like less end-user information, derived demand, technology.

Step 3/3

The 12 key distinctions between business-to-business (B2B) and consumer marketing along with how these distinctions could effect developing a B2B strategy are as stated.