Fundamental of Marketing Strategy Concepts
Difference between Marketing Process to businesses rather than consumers
The first difference between the marketing strategy or process for businesses from consumers is the decision making process. In the consumers, it is faster and the businesses on the other hand take a lot of time to decide upon the purchase. The business buyers have to deal with a comparatively longer chain of command while deciding upon the new purchase with various stakeholders in the organisation. Second difference is the amount of investment required for both kinds of buyers. Consumers buy at affordable prices, whereas for the business customers it is like capital investment. The after sales support is also important, which is very crucial for large buyers. Individual consumers do not pay much attention to the after sales relationship. Even the business transaction history is not very important for the individual buyers, but the business buyers put much value to the history of transaction. The very nature of business buyers is to go in details of the products they are trying to buy, and they often recruit experts just only to verify and decide upon the products. The marketing executives have to be a little more patient and cautious while going to pitch at business buyers. The need of business customers are mostly expertise in the product offering and efficiency in the solution offering. The marketing executives need to be aware that the buyer is equally smart and knowledgeable in terms of usage of business jargons. However, the individual buyers should be treated with normal advertising and promotion activities. Our business has the majority customers as the individual buyers, hence we have to out more focus on the one time but impactful selling process.
Difference between International Marketing and Domestic Marketing
The fundamental difference between international and domestic marketing is the approach. The domestic marketing can be relatively easier for our company as compared to the international marketing planning and process. While thinking about the marketing at a global level, we have to take a number of external factors into consideration. Firstly the PESTEL analysis has to be done in order to get an idea about the marketing environment of the country. These factors play their respective vital roles in identifying and evaluating impactful factors that may put long ranging effect on the business. The mode of entry is another important factor to consider in the case of international marketing. The competition becomes larger and wider which makes the job of marketer tougher. The global operation demands dissimilar but impactful ways of marketing strategy to have long term effect.