Marketing means the process of organizing and directing all the company activities which relate to determining the market demand and converting the customers buying power into an effective demand for a service and bringing that service to the customer. Market participants try to minimize their costs and maximize their returns to make a profit. Traditionally, "marketing" has been a term applied to the craft of linking the producers (or potential producers) of a product or service with customers, both existing and potential. This general definition fails to provide any direction to someone hoping to market his products or services effectively. This article focuses
On the criteria that people should adopt a right approach to marketing . Business-to-business marketing involves marketing to organisations and institutions and hence calls for a different kind of approach - much different from consumer products - when a firm formulates its communication plan. Some of the basic differences are discussed.
- Communication addressed to several influences in organisations.
- Products are both standardised and customised. There may be a need to customise communication within a segment.
- Does not depend on advertising to a very great extent. Personal selling and direct marketing assumes a lot of significance.
- Emotional influences significant to a lesser extent (though cannot be ruled out in certain product/market situations).
- In todays situation communication plan has to take into consideration long term on going relationship. (Making the brand contemporary may not help. On-going relationships depend on satisfying several influences in the organisation.)
Brand equity may be important in certain markets.
- Communication addressed to individuals in a specific target segment.
- Products are generally standardised and hence relatively there is lesser need to customise communication within a segment.
- TVs, newspapers (mass media channels) could be used.
- Considering significance of positioning, which has emotional elements.
- Very few situations where communication has to have a one-to-one on-going relationship. Communication helps to constantly contemporarise the brand (through positioning strategies).
- Brand equity is almost a prerequisite.
Change should be constant; consumers look for innovation