Week 4 EOC: Business to Business

The difference between business to business and consumer marketing is business to business is a more thought out process which takes in a lot more factors then the average consumer would take in. When businesses buy for their company they're filling a hefty list of requisites. This includes technical and economic considerations, interactions within the buyers, and businesses buying process is more formalized compared to the Consumer. "Business buyers usually face more complex buying decisions than do consumer buyers. Business purchases often involve large sums of money, complex technical and economic considerations, and interactions among many people at many levels of the buyer’s organization. Because the purchases are more complex, business buyers may take longer to make their decisions. The business buying process also tends to be more formalized than the consumer buying process." Armstrong & Kotler: Marketing Pg. 160 Consumer's buy strickly on a need or a want and when money is in the hands of the consumer it becomes a demand. Consumer's only take into affect what they need in the moment. Their's no lengthy trial and discussion process with a product being purchased by an average consumer. "Finally, business markets have more fluctuating demand. The demand for many business goods and services tends to change more—and more quickly—than the demand for consumer goods and services does. A small percentage increase in consumer demand can cause large increases in business demand. Sometimes a rise of only 10 percent in consumer demand can cause as much as a 200 percent rise in business demand during the next period" Armstrong & Kotler: Marketing Pg.160