Question

Topic: The Consumer and Business Market 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.

Answer 1

Answer:

Check the explanation

Explanation:

B2B decisions are made between business entities (business and wholesaler, wholesaler and retailer) while B2C decisions are made between business and individuals (business and individual customers). Decision Making Units (DMU) is common in B2B and B2C decisions.

In a B2B, the key DMU includes economic buyer, infrastructure buyer and the user buyer. The economic buyer is the person buying a product, infrastructure buyer is the person providing infrastructure to make the purchase happen and the user buyer is the person supplying the product.

In the case of a decision-making process in a B2C, the DMU is a group of people making the decisions on the purchase of goods. B2C decision making consists of a buying center with users, buyers, influencers, gatekeepers and deciders.

The buying center is the key DMU in a B2C segment. The initiators in the buying center offer suggestions in a product purchase. The influencers provide their opinions in a product purchase. The buyers are the persons responsible for the entire contract. The gatekeepers control the information flow. Deciders take the final decision on a purchase. End users purchase the final product and use the item.

Consider the restaurant or fast food business that predominantly targets the corporate employees. In this case, a B2B decision-making process can be used to get more customers and improve their sales.

The economic buyer in this case is the employee of the corporate, the infrastructure buyer is the corporate entity and the user buyer is the fast food company supplying the food item. In this manner, a network with various corporate entities in the local area could improve the sales of the fast food company.

Similarly, a B2C decision-making process can be used to improve the sales by directly selling to the employees of the corporate and other people requiring fast food delivery at home through a mobile app.

In the decision-making process of B2C, the buyers are the fast food company, influencers may the persons including friends, family members and other entities, end users are the persons purchasing food through mobile app and gatekeepers are the persons responsible for maintaining the mobile app.