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Essay / Research Paper Abstract
This 14 page paper considers how marketing to consumer and business markets have commonalities and differences. Understanding the different target markets can aid in the allocation of marketing resources and the design of marketing campaigns. The paper includes consideration of the different segmentation methods, the purchase decision-making processes, buying stage models and practical differences that need to be understood by a marketer such as transaction based models and relationship building. The bibliography cites 16 sources.
Page Count:
14 pages (~225 words per page)
File: TS14_TEbusmark.rtf
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Unformatted sample text from the term paper:
way resources are allocated in terms of human resources and promotional efforts. There are many influences in both markets which will be used to determines the way marketing takes
place. For example, large items with a high profit margin may warrant a higher cost marketing, such as person to person marketing, likewise small items that are sold in large
quantities to a single purchasers, which also result in a high profit may also warrant person to person marketing and sales (Kotler, 2003). The key to this is the net
profit per transaction. Conversely, where there are small profit items and large numbers of sales to different purchasers are required, the use of different forms of marketing such as
advertising and promotion where many may hear a single message, a less efficient method when measured on a person-to-person basis. However, with the number of recipients hearing the message the
less efficient method may prove to gain from economies of scale, reaching more people at the same time (Kotler, 2003, Nellis and Parker, 2000). Therefore, determinants of business or commercial
marketing and selling methods will be partly determined by the level of profit for each transaction. This is true of both businesses and consumers, however, despite a potentially similar
approach when deciding the way the markets may be approached, it is only when examining the differences between marketing to consumers and businesses that the decision of marketing methods can
be made. If we look at these two very different markets we can appreciate where there are commonalities, but also why there are some very important differences that dictate the
need for a different use of resources. WE will look at marketing to domestic consumers first and then at marketing to businesses. The consumer market is very diverse. When
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