Marketing is, today, a very useful tool when it comes to getting a product or service to the market and that can acquire many forms, depending on the needs of a company or a customer.
Today we will talk about business marketing, which are its main features and because nowadays, it can be a great option to promote all kinds of brands or objects. You may find in fact, it is a great alternative for you, if you begin to start your own business and you crave to have the best results. So do not forget to read the article we have this time.
- 1 What is business marketing?
- 2 How does business marketing work?
- 2.1 What are the advantages of business marketing?
- 2.2 Business Marketing Concepts
What is business marketing?
This type of marketing, as its name tells us, is the one that arises in the companies based on the needs and suggestions of the clientele. Its main objective is to satisfy what the consumer wants and at the same time obtain an economic advantage from it. We can say that he cares about developing services and products that can be adapted to perfection to what people expect.
It is common for this to carry out research to find out what people are looking for, and even to do so in segments, following data such as age, sex and even the occupation of several portions of the population.
How does business marketing work?
A very simple way to explain it is through the following steps:
We analyze a market segment that has enough potential to sell a product or service. There are many that can be discovered based on the type of consumption and what it requires.
This segment is thoroughly investigated. Figuring out the preferences that exist around how to fill a need or what they would like to see or try within the market.
A strong strategy is planned to have scope in that segment. It is essential to take good advantage of all the research that has been carried out.
A good marketing campaign is launched. It will give good results for the product if the previous steps were made to consciousness.
What are the advantages of business marketing?
This marketing could be very effective if you know how to carry out correctly and as proof of it, are the benefits that we mentioned below:
It allows you to know about market segments. A company or client makes bets safer when launching a new product. If the need or desire of the people has been investigated in detail. This makes it possible for concepts to be developed that people are going to buy and increase the profit margin. It’s always better to meet your audience if you want to succeed.
It takes into account all the means at your fingertips to increase the presence of a brand. It makes sure to use the most traditional methods, such as television commercials or street spectaculars. But it also takes into account the importance of the most innovative, such as social networks. To the latter certainly. They can be used in more aggressive campaigns because they have a lower cost.
He always knows how to adjust to the latest trends. The market is very capricious and something you should be aware of when it comes to business. Is that people do not always want to buy today the same as announced yesterday. Trends change and you have to change with them if you want to have better sales. Business marketing knows and does not waste time adjusting to that transformation.
It puts first of all the customer satisfaction. It is very oriented towards the philosophy that “the client is always right” and he is sincerely concerned about his needs. This is good for the company to create a very positive reputation and of course, to guarantee the sales over time.
It takes into account teamwork. The executives of a company are not the only ones who collaborate in the business marketing. This marketing model stands out for being built on the basis of cooperation. If someone has a good idea, no matter who it is, it will always be incorporated and the more support the team has in general, the better for the project that is going to take place.
Develops strategies with previous consumer study. Once the needs of the public have been investigated, marketing is responsible for devising plans that allow them to be better filled, taking into account also the public to which they are going to be directed. And it is not the same, to set an example, try to sell a product for teenagers that one that is focused towards housewives.
As you can see, business marketing has a lot of possibilities when it comes to getting a brand or company forward. The bigger ones use it to have a greater reach with what they are going to sell, but the truth is that it can be applied in smaller or medium sized companies. Even if you are starting to pull your own, you might see a good option to increase your chances of success. All you have to do is find a good consultant.
Business Marketing Concepts
Any business marketing transaction (also defined as B2B or Business-To-Business) implies years of complex marketing efforts, with promotions done both offline and offline.
An important concept in business marketing is marketing mix. As in the case of business-to-consumer or B2C marketing, business marketing is based on product, price, promotion and square to position competitively its product offerings, promote the brand, efficiently use the resources of a company.
Like consumer marketing managers, business marketing must create an integrated communication and marketing strategy to ensure that their poromocionales products and methods are complemented and supported by each other.
Business marketing sphere of action
Business marketing expands to all types of industries and businesses. B2B sales tend to be greater than what a consumer can do, obviously, and corporate marketing managers use different channels to reach their target audiences.
To promote yourself, you can use all kinds of tools and ways of becoming present, from white papers, trade shows, corporate sites, as well as live broadcasts to raise awareness of the existence of a certain type of business and generate prospects.
Despite being a type of marketing in some specialized way, a significant portion of the B2B brands also employ Social Media, including from podcasts, social networks, blogging sites, everything to bring traffic to their online channels and take Potential customers to know their brands.
Measuring the success of business marketing
The measurement of the success of the business marketing can be realized thanks to systems of management of the relation with the client (or CRM, for its acronym in English).
With these systems you can assess the performance of business marketing within the cycles that exist in this type of marketing. Many times these cycles can last several months and include several stages before the sale is done.
With CRM systems you can help businesses integrate metrics from different activities to accurately assess how business marketing helped the transaction.
Marketing is such a broad discipline that it is inevitable that in turn, it has several types that can be differentiated in terms of factors such as the audience it is aimed at, what it promotes and the techniques it uses.
One of those who have gained great relevance to this day is cultural marketing; A concept that you may not be familiar with, but we’re going to talk to you about in detail this time.
Definition of cultural marketing
To understand better what we are talking about, first we have to establish what it is. As its name suggests, this kind of marketing is responsible for disseminating the movements that have to do with culture, something that can be supported by different strategies.
It tends to support institutions and cultural phenomena, improving their image to the public and expanding their knowledge, to make them more accepting.
Based on this, we can define four elements that are crucial for this way of promotion:
The needs of the consumer. Even when it comes to culture, the public can demand something in particular; Like concerts of your favorite band, some kind of literature or even special events.
The way in which those needs are fulfilled. It is crucial that once you know what the cultural consumer wants, put yourself in action to give him what you are looking for.
The relationship the consumer has with the company or cultural Organization. It is a very important part, which depends on the success of the events that will be organized.
Obtaining benefits. This is at the end of the day the main purpose of cultural marketing. Get a benefit from each Cultural product that is offered and get the most out of it.
What are the goals of cultural marketing?
To define the objectives of this concept, we must go back to “the 4 p” of marketing, established in the year 1958. These are:
Taking these elements into account, it can be said that the purposes of cultural marketing include the following:
Learn about what the cultural consumer requires, capture your attention and encourage you to consume more and more.
Improve the relationship that the public has with the companies or institutions that have to provide what it requires.
Increase the public’s sensitivity to culturalization.
Identify new clientele and market niches that become present over time.
To grow the channels of communication and distribution for cultural products.
To increase the information that exists in the market, with respect to parts of the culture that are novel or little known.
What is the role of cultural marketing today?
Today, this type of marketing has much more importance than you imagine. Just look around us and realize that virtually all aspects of culture are marketable. Even cultural movements, which in principle seem to escape all this, take advantage to sell something new to people.
It’s something you’ll understand better if you take a look at the following examples.
The movement of the hipster. It is probably the greatest demonstration of culture we have seen in recent years. The “hipster” in fact, have been characterized by being people who stand out for being cultured and have a wide sense of responsibility to the planet.
They show themselves as friends of the ecological and the technological, but at the same time they enjoy the simple things, like the second-hand clothes and that which is catalogued as artisan.
Contrary to what might seem, here are huge business opportunities that have been presented in the form of organic food, gadgets of the latest technology and even the resale of recycled things or vintage fashion.
The concerts of fashion artists. Music despite being an art, it will always be one of the most profitable businesses for those who have reached the fame and of course, all the production that is behind them.
Just look at the singers or bands that are able to fill stadiums and marketing that can be done around them, even apart from their records; such as t-shirts, accessories and even television commercials to advertise certain brands or sponsors. In fact this is another of the most common methods to make culture become commercial.
Literary phenomena. Something as simple as reading can become a great business opportunity, if a novel or book of any subject is quite successful. Beginning to see those stories with which the public identifies and that later they are taken to the cinema, being able to generate other products based on the concept.
And people who always want to buy them because they really loved the story they read or looked at. On the other hand, we have many books that cover things as different from each other as cooking, photography, design and much more; That always have demand as long as they provide the solution to specific needs or problems.
As you can see, cultural marketing has a much broader influence than could be seen in a large part of the things around us.