3.5 b2 b b2c b2b2c.pptx

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Categorizing product and channels for professional and consumer markets.

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3.5 b2 b b2c b2b2c.pptx

  1. 1. This presentation is made possible by the support of the American People through the United States Agency for International Development (USAID). The contents of this presentation are the sole responsibility of Rick Rasmussen and do not necessarily reflect the views of USAID or the United States Government. B2B B2C B2B2C Market Research Strategies
  2. 2. Market definitions • B2B: Selling directly to businesses – Website hosting services for retail customers • B2C: Selling directly to consumers – Women’s shoes sold online • B2B2C: Selling to a business who markets product/service to consumers – Product: White label websites for women’s fashion retailers – Paying customer: Fashion retailers – End customer: Women purchasing fashion items
  3. 3. Profiling Your B2B Customer Consider quantifiable segments: industry sector, type of market (emerging, mature, declining), geography, size of company, revenues. • Industry sector – e.g. health, real estate, education • Type of market – emerging, mature, declining • Size of company – large, medium, small, start-up • Geography – local, regional, national, international
  4. 4. Profiling Your B2B Customer Defining customer profiles in B2B market segments are more complex. • Decision makers are not as clearly accessible so this lengthens the sales cycle. • Many decision makers may have a say in purchasing, so you need to understand the promoters and influencers. • Understanding sales cycles, behaviors, trigger points and the decision making processes are essential. B2B products and services are often more complex. They may have to be tailored to the customer. Integration factors may need to be considered.
  5. 5. Profiling Your B2B Customer Consider more nuanced factors: Decision makers in your target company (and your relationships with them), effects of volume in the purchase, timing of purchase and any need for integrating your product/service. • Decision makers – One or many? Impact on sales cycle • Volumes – Is there a special consideration? • Timing of purchase – Knowing when customer is ready • Integration – Is special expertise required?
  6. 6. Profiling Your B2C Customer GENERATIONAL MARKETING • Male or Female • Age range • Language • Life Stage – College-age, Single, Married, Has kids? • Geography – Urban, Rural, City/Metro areas? International? • Lifestyle - Sports? Hobbies? Vacation spots? • Skill-based: Technologically savvy? • Socioeconomic factors: Income bracket?
  7. 7. Profiling Your B2C Customer COHORT MARKETING People of a group of who went through similar experiences at a particular time within market segment. Example 1: Age Cohort – Baby Boomers, Gen X, Gen Y People born in a particular time period share similar feelings, beliefs, values, perceptions, attitudes, needs Example 2: People who grew up in time periods of significant economic or political events • grew up in the U.S. in 60s • grew up in a war-time era • grew up in economic hardship
  8. 8. B2B2B • Always consider the needs of the end customer (the consumer) • Provide a solid path for your business customer to reach the consumer – Cost effectively – With differentiation from their competitors

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