Quiz 7: Customer-Driven Marketing Strategy: Creating Value for Target Customers

Business

Business market: Business market is a marketplace where raw materials are purchased for the purpose of reselling or producing another product. Segment of business market: The largest segment of the business market is commercial market. Commercial market is a place where goods and services are sold to the end users. Role of internet in the business-to-business market: • Providing a platform to advertise the product • Conducting market research • Creating customer loyalty • Providing additional communication channel Role of resellers in the business-to-business marketing: • Reselling the products to the end-user • Repackaging the products for resale • Communicating to customers

G has recently gone for e-commerce with success. It has segregated the web population of its website into the buyers in the field, and the purchasing agents, who place orders for G's products from the corporate headquarters. The need for G to understand the B2B customers can be defined by the following reasons: • Many of its customers are B2B customers. If the company does not understand its customers, it has to lose its market share and customers. • These customers use the product as a part of their control system and support system. So it plays an important role in their customers 'business also. • Apart from products, the company also provides service to its employees through its service representatives. If the company does not understand its customers properly, it is not possible to serve them. Above all, the software in the backend maintains every detail about the agents like the items ordered; build dates and volume, delivery details of the same, etc. These details are very sensitive and needs to be well maintained so that they don't go into the hands of the competitors.

Business market: Business market is a marketplace where raw materials are purchased for the purchase of reselling or producing another product. Steps to be taken to build relationships: The following are the steps to be taken to build relationships with the producers, farmers, and retailers: • Understand the level of commitment • Develop sustainability • Select appropriate producers or farmers • Maintain two-way communication • Optimize product quality • Be open and creative

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