Wednesday, February 9, 2011

Week 4- Business to Busniess Vs. Consumer Marketing

The consumer market is a ever changing one and the factors that go into how it works evolve just as much. Though they change, the basis of any market pretty much stays the same. Some of the major factors include things like demand or how much they want the product. Competition- how many products are out like it and what sets it apart from the rest. When a person thinks about buying something there are a lot of things that go through there head. Things like research, need, want, and availability.Products often fall in and out of circulation because of there need. Often people will buy product only for it to fall out of style or need in a few months. This often happens a lot with electronics. On the flip side when it comes to business consuming the game is a little different. Unlike consumers business is out to gain profit and be ahead of the game in there buying where as consumers are more purchasers of leisure. Business customers are fewer then consumer but there power is larger in size. Less purchasing but more revenue. The demand also fluctuates based on things like location and price changes as well. In the end "If you do build a great experience, customers tell each other about that. Word of mouth is very powerful."

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