To increase revenue, many businesses, such as gift basket, insurance, tax preparation, food, and entertainment businesses, have targeted consumer and business markets. However, the decision-making process is a bit different for each market.
Checklist:
First, briefly describe the similarities and differences in the decision-making process between the business-to-business (B2B) and business-to-consumer (B2C) groups.
Next, choose a business that predominantly targets the consumer market. Explain how they can reposition themselves to increase their sales to the business market using the business decision-making process.
WE WRITE PAPERS FOR STUDENTS
Tell us about your assignment and we will find the best writer for your project.
Write My Essay For MeSAMPLE SOLUTION
Similarities and Differences between Business-to-Business (B2B) and Business-to-Consumer (B2C) Decision-Making Processes
Differences
While B2B organizations will make purchase decisions based on extensive market research and comparative analysis, B2C dealings tend to be instantaneous and impulsive (Altschuler, 2019). Most consumers’ need to purchase depends on their immediate demand for a service or good and makes purchases more instantaneously with less research than a business. As such, B2C companies have a lesser period to convince their customers. B2C decisions also rely on price, convenience, and product at that particular moment while B2Bs rely on creating relationships; improve performance and productivity as their drivers (Altschuler, 2019). B2C target their customers over a wide range of socioeconomic, psychological, and demographic boundaries…
Order Original and Plagiarism-free Papers Written from Scratch:
