1.What is business marketing ?
Business marketing is the marketing of goods and services to individuals and organizations for purposes other than personal consumption. The sale of a personal computer to your collage or university is an example of business marketing .Business products include those that are used to manufacture other products, become part of another product, or aid the normal operations of an organization. The key characteristic distinguishing
business products from consumer products is intended use not physical characteristics A product that is purchased for personal that is purchased for personal or family consumption or as a gift is a consumer good
if that same product, such as a personal computer or a cell phone is bought for use in a business it is a business product. A survey by B To B marketing marketing revealed that the three primary marketing goals of U.S. business marketers are customer acquisition (62 percent), creating brand awareness (19percent), and customer retention(12percent)
The size of the business market in the United States and most other countries substantially exceeds that of the consumer market a single customer can account for a huge volume of purchases For example General Motors purchasing department spends more than $125 billion per year on goods and services General Electric DuPont and IBM spend over $60 million per day on business purchases The top 10 business marketing brands in 2008 according to BtoB Magazine are American Express Bank of America Cisco Systems FedEx Corp General Electric Co Google Microsoft Corp UPS AT&T and IBM Corp
business marketing The marketing of goods and services to individuals and organizations for purposes other than personal consumption