M4A2

Buying behavior: B2B and B2C

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Business to Consumer (B2C) and Business to Business (B2B) are key aspects in business transactions. B2C involves directly selling products or services to consumers while B2B involves selling products or services to other businesses. When it comes to buying behavior both have certain similarities and differences.

When both business transaction types plan to purchase furniture, for instance, both will share certain similarities in buying behavior. Both businesses and consumers place value on the furniture being able to match their needs which could be quality assurance or for comfort respectively. They also both consider the pricing of furniture which must provide value for money. They also are both dependent on the product information provided by the suppliers of furniture as this plays a role in their purchasing decisions.

On the other hand, in a business to business transaction, when buying wholesale furniture units to resale, a business will have to make a rational decisions which involve setting a budget since it will involve more money. While a consumer will make the purchase decision based on emotions thus they will not make rational decisions. To them the furniture represents either comfort or luxury. When it comes to buying furniture a business will take into careful consideration the make and type which will cater to the needs of their target market. For instance it will consider the cost, design and brand of the furniture. On the other hand consumers are not very specific when it comes to purchasing product, as they are more open to various product choices. For instance consumers can overlook the cost if the furniture meets their design or comfort criteria.

The similarities and differences in the buying behavior in B2B and B2C business transactions are significant in informing marketing strategies. This is because both the B2B and B2C markets have always been viewed as having a dichotomous type of relationship (Ida, Maria, & Camilla, 2006). Carrying out an evaluation of the buying behaviors of both businesses and consumers will dictate the content of marketing in terms of pricing, matching of needs and the buying process. The content strategy needs to be adjusted to increase the returns (DeMers, 2015).Secondly a marketer also has to design their marketing based on the rationality of decision making. For instance when advertising furniture to consumers, the advert needs to have an emotive attribute so as to draw them in. While when advertising to businesses, it has to appeal to their rational decision making in terms of budget, brand and functionality.

References

DeMers, J. (2015). How Do Content Strategies For B2B And B2C Business Differ? Retrieved from https://www.forbes.com/sites/jaysondemers/2015/04/06/how-do-content-startegies-for-b2b-and-b2c-businesses-differ/amp/?espv=1

Ida, H., Maria, J., & Camilla, L. (2006). Marketing communication in a B2B market: a case study of the store interior industry. Pp.1-74