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What is the Concept of B2B and B2C Marketing?
Sales are the ultimate objective of marketing, which includes a wide range of activities. The development of B2B and B2C marketing concepts has received a lot of attention as globalisation, consumerism, and trade have all progressed. Let's go over these carefully.
What is B2B Marketing?
Business-to-business marketing, as its name suggests, refers to the promotion of goods and services to other corporations and enterprises.
B2B marketing material is typically clear and informational in nature. This is because business buying decisions are based on the bottom-line revenue impact. Corporate decisionmakers place a high priority on return on investment (ROI).
Here are a few well-known B2B marketing examples from India −
Infosys − A few of Infosys' marketing initiatives are participating in media and industry analyst events, sponsoring and attending trade shows and conferences, recruiting efforts, community outreach efforts, and investor relations.
Aspire − The marketing team at Aspire had to come up with fresh strategies to reach the target market because the Banking and Financial Services vertical needed to ramp up its sales and marketing activities. A well-organized, multi-channel Account-Based Marketing (ABM) campaign approach was chosen by the marketing team, with a strong emphasis on digital platforms.
TCS − TCS released "TCS Belief Song" to promote the idea of the new normal as the world prepares for a new beginning and to highlight the joy of human connection. TCS employees and their families serve as brand ambassadors in the anthem video.
HCL − In order to create cutting-edge concepts that could benefit the world in its most challenging times, HCL collaborated with Microsoft and forty more firms from the life sciences, healthcare, technology, and academia through The Better Health Hackathon.
Primary Types of Sales Categories
The three primary types of sales categories, to which most businesses primarily belong, are as follows −
All the goods and services offered by these businesses are sold to businesses in the same sector.
On the other end of the spectrum are businesses that supply goods to various types of businesses.
Manufacturers of file cabinets, office furniture, and retailers of office supplies are a few examples.
Companies Serving Wholesalers
Companies in this category collaborate with distributors who are experts at promoting their goods and luring customers.
What is B2C Marketing?
B2C marketing, also referred to as business to customer marketing, is the process through which a business promotes its goods and services to consumers.B2C marketing must be clear, simple for consumers to grasp, and concentrated on addressing the specific issue that their target audience is experiencing.
Types of Online B2C Business Models
Most businesses employ one of five different online B2C business models to reach consumers.
These could be producers, small businesses, or even just online storefronts for department stores that sell goods from various producers.
These are intermediaries who function as a bridge between customers and sellers but do not actually own the goods or services they offer. These include websites like Expedia, trivago, and Etsy.
B2C driven by advertising
In this technique, free content is used to draw users to a website. These visitors then encounter digital or internet advertisements. The sale of advertising, which sells products and services, makes use of high numbers of web traffic.
Marketing and advertising professionals’ benefit from websites like Meta (previously Facebook), which create online communities based on common interests.
Direct-to-consumer websites impose a fee for users to view their content. Additionally, the website might charge for much of its material while offering some of it for free.
Examples of B2C companies include −
Apart from these two, there are two more marketing types. Let’s look at those too.
What is C2B Marketing?
A sort of business model known as consumer-to-business, or C2B, involves the client providing a service or product to the company. A C2B model is made possible by the internet and social media by linking clients who can provide businesses with their marketing skills in exchange for payment. C2B business solutions are frequently utilised to promote a company's online storefronts.
Types of C2B Business Models
C2B offers the following −
In a reverse auction, buyers can set the price for the good or service they want to buy.
Through affiliate marketing, end users—often influencers, bloggers, or publishers—can lend a business their platforms in exchange for a commission to promote certain products.
C2B advertising space lets users earn a commission from clicks on adverts for other businesses that are shown on their website.
Contractors, Gig Workers, and Freelancers − For clients that require assistance in these areas but are unable or unable to engage full-time workers, freelancers can give anything from a press release to a whole logo.
Licensed and Royalty-Free Photography − Freelance and professional photographers, who are also business owners, decide to charge for their stylized photographs, which benefits both other companies looking for stock photography as well as the image hosting websites.
What is C2C Marketing?
Customer to customer (C2C) business models allow customers to conduct transactions with one another, usually online. C2C refers to a market setting wherein one client buys products from another customer while using a platform or business operated by a third party to assist the transaction.
Examples of the C2C marketing are as mentioned below.
OLX − One of the best instances of a C2C ecommerce platform to come out of India. OLX has made it extremely simple for consumers to purchase, sell, and swap new and used items and services online. OLX is mostly a free service. There is a separate mobile application for this C2C e-commerce website.
AliExpress − Another excellent example of a C2C e-commerce platform. Customers can sell their goods on Alibaba to buyers across the world. This massive trade platform was created especially for Chinese clients who want to sell and export their goods outside of China.
Types of C2C Markets
The following are major types of C2C markets −
Consumers can look for and bid on goods that other consumers want to sell through online auctions, a sort of C2C business.
E-commerce websites fall under a variety of categories, such as websites selling handcrafted goods or e-commerce platforms that let users build their own online stores.
Money transfer platforms
Many direct-to-consumer enterprises lack their own sales or accounting divisions. Platforms for money transfers enable C2Cs to accept payments from customers in a secure setting.
Social media sites
Online store elements on social media platforms have also started to be added, allowing users to advertise their original products or sell their old goods.
Differences in B2B and B2C Marketing
The points given below clarifies the differences between B2B and B2C marketing −
|B2B Marketing||B2C Marketing|
|The B2B business model involves transactions between businesses.||B2C is another business model, where a company sells goods directly to the final consumer.|
|In B2B, the customer is an organisation.||In B2C, the customer is a consumer, as opposed to B2B.|
|B2B focuses on the interaction with the corporate organisations.||B2C is primarily concerned with the product.|
|Compared to B2C, the purchasing and selling cycle is much longer in B2B.||The purchasing and selling cycle in B2C is shorter.|
|B2B commercial ties typically last for a long time.||In B2C, the relationship between the buyer and seller lasts just briefly.|
|B2B decision-making is thoroughly thought out and reasonable.||While B2C decision-making is based primarily on emotion.|
|A lot of goods are sold in B2B transactions.||On the other side, tiny amounts of goods are sold in B2C.|
|In B2B, business relationships and trust are the foundations upon which brand value is built.||However, in B2C, brand value is created through advertising and marketing.|
Marketers need to be aware of these crucial distinctions between B2B and B2C marketing. It will support the customer-first marketing strategy and enable them to connect with more quality leads. It will contribute to increasing the income and profitability for the company.
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