The Consumer and Business Market
Business-to-business (B2B) and business-to-consumer (B2C) groups of companies primarily have a different target audience, yet both groups gene use the same marketing approach. Namely, in choosing the main ways to sell a product or service, whether to a business or a customer, a company needs to satisfy the buyer’s needs. Nevertheless, in B2B deals, the buyers are usually people with experience in business that have specific strategies of acquiring goods that would result in profit for their company. So, the selling company should guarantee the quality of their products with, for example, statistical evidence. In turn, consumers tend to buy something because of emotional impulse and value the product in a short term perspective, according to their values. Thus, B2C companies must try to detect the changes in their customers’ demands and wishes and change their products appropriately.
Multiple businesses predominantly target the consumer market. An example of such a company is Music Go Round, located in California. According to Crunchbase (n. d.), “Music Go Round buys, sells, and trades quality used instruments all day, every day. They also stock a broad assortment of the most popular new accessories at the best prices” (para. 13). It is significant that they can reposition themselves to increase their sales to the business market using the business decision-making process. Namely, the company can launch a campaign that would promote the educated sellers of the stores, which could guide others in buying musical instruments. These advertisements might attract variously private music schools that can acquire musical equipment for their businesses. Moreover, the cultural establishments that organise events related to music (such as orchestras) can become interested in buying instruments of high quality from the experts.
Crunchbase. (n.d.). Music Go Round. Web.