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Knowing Well And Identify Your Customers Via Business Marketing

Knowing Well And Identify Your Customers Via Business Marketing

Knowing your customer is one of the basic activities that have to be perfected before a business can be successful. You will need to understand their needs and wants. You will need to understand how they operate and what makes them tick. You will need to have the intelligence or more specifically the business intelligence to reasonably predict their behavior and reactions within differing situations.

Strategic Insights

You will need to know their location so that you can offer them the goods and services that you want to sell. Without knowing your customer the process of buying and selling cannot even begin. This article aims to discuss some of the principles that would assist people in a business marketing situation to identify their customer.

Where we are talking about consumer marketing, the customer is easily distinguishable and identifiable. The challenge for the seller is then to project their product in such a way as to attract the buyer or even wean them away from other buying situations with competitors. It is in essence a fairly direct relationship between the buyer and seller without the added complication of an intermediary. The problem for those sellers in a business marketing situation is that the buyer is a retailer who will then sell on to someone else.

This creates a dilemma for the parties concerned. Should the wholesaler limit the extent of their involvement to the strict transactions between him and the retailer or should he explore further down the line to assess the methods through which the final product is delivered? In other words they are faced with the issues of identifying their customer. Given the importance of understanding the customer, the type of definition they adopt can have serious implications on their bottom line.

Branding has also created further problems in this definition dilemma. These days’ consumers will purchase brands and their identity. The brand has become a business personality on its own and requires development. Companies will go to great lengths to protect their brands even to the extent of losing manner.

By selling their product to a retailer they are opening themselves up to take responsibility for the actions and sales tactics of the retailer. Therefore the decision to simply concern their marketing practice with the business to business selling situation is short sighted. When a brand name is tarnished by the activities of the retailer, their overall revenue will fall.

One of the key distinguishing features is that in a consumer marketing situation you are usually dealing with a single person or entity whereas in a business marketing situation you will be dealing with an industry that has various elements which affect and can be affected by the market conditions within the group.

This means that there are great many unknowns and variables which have to be effectively managed if the sales situation is not going to collapse. This is what causes the inherent complexity within business marketing and makes it exceptionally challenging to fully understand the customer. Some might even say that consumer marketing is easier than business marketing.