The economic downturn has severely impacted the growth of business in the UK and as per the forecast for the current year by BBC analysts; the economy is going to attain a stalled position in the current year. …
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A service based company, which deals in B2B scenario, Triangle Creative Limited (TCL) offers a range of services comprising of direct marketing, online marketing, advertising, public relationship management and even development of websites. TCL is highly respected by its clients for friendliness, cost effectiveness, creativity and speed of delivery of the service. The organisation offers its services to SMEs located in and around Cambridge. The current economic situation has hampered the inflow of clients and has also led to the decline of revenue by as much as 25% compared to that of the previous year. The company is also finding it increasingly difficult to retain some of its established clients, which in turn, is vital to the growth of the company. TCL needs to improve its business strategies like marketing mix, customer relation and sales force to propel future growth of the company. It also needs to look for newer markets to continue the expansion of the company.
The main motive for designing a marketing strategy is to deliver values to the customer and generate revenue. To begin with, the organisation needs to do proper segmentation, targeting and positioning for its product or service.
Then comes the importance of the 4Ps of marketing and the marketing department generally tries to fiddle around with the 4 prime elements while taking into consideration the macro and micro economic factors of the marketplace (Crane, 1993, p.15).
The main objective is to make effective strategy based on these key parameters in order to create a high demand for the product or the brand for generating a positive response from the potential customers. Each firm strives to build up effective marketing strategies so that it can create and deliver values to the customer and thereby increase the satisfaction of the consumers. The marketing mix is assembled keeping in mind the customer needs regarding the features and benefits of that particular product and service. It differs from one organisation to another according to the varying marketing objectives and resources of the companies (NIOS, 2012, p.103). Figure 1: Marketing Mix; a bird’s eye view (Source: NIOS, 2012, p.3) Product: Product refers to the goods and services offered by the company which carries the brand name as well as the brand value to the customers. It can be tangible or intangible in nature. Products and services are purchased by the customers because they fulfil the needs of the customers. Customers pay for the benefits that the products or services provide to them. Therefore, it can be said, a product can be represented as a bundle of benefits which has one key feature and some other benefits related to the main feature. TCL is a service based company and it offers to the clients a wide range of services including online marketing, advertising, direct marketing, website development and public relations. The client base comprises of a wide range of companies. TCL has built a reputation for providing reliable, efficient and friendly services. At the current economic condition, the prospect of getting a new client is comparatively tougher than maintaining an existing client in order to maintain a sustainable revenue source for the company. So TCL needs to keep the current customer base by means of effective
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“Business to Business Marketing Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.org/business/1396765-business-to-business-marketing.
This essay explores the supplier as the price makers in geographic market segmentation. A supplier is able to charge different prices for products and services in different regions and countries. Here the supplier refers to different types of middle man of any business i.e. they can be the producer or can be the wholesaler and may be the distributors and the preproduction supplier can also be.
ethod which is performed in between two businesses. Therefore, business-to-business marketing is a procedure between the different business houses such as the manufacturers, wholesalers and retailers. Triangle Creative Ltd is an advertising agency which was founded by David Thorpe and Angela Brown in the year 1998.
line marketing, direct marketing, website developments and public relations. Their reputation has enabled them to attract clients mostly through word-of-mouth recommendation. Most of their clients are from the small and medium sized enterprises located in and around Cambridge.
The business report suggests a focus on online marketing services for client businesses, as well restructuring other marketing services such as advertising to be low cost and affordable to clients through adopting a more flexible pricing structure. In addition, the report suggests an improvement in word of mouth marketing of the business through leveraging it using social media, taking clients feedbacks and using these as testimonials on the company website as well as for newer inquiring customers, and through getting business clients to actively talk about TCL by organising marketing training sessions or conferences aimed at showing businesses how to meet their marketing needs in the curren
Business-to-business describes about the commerce transactions between two businesses. It can be occurred between a wholesaler and a manufacturer or between a retailer and a wholesaler. The other contrasting terms of B2B are B2C and B2G (Schneider, 2011, p.229).
These may include use of websites, brochures, and mailing (Armstrong & Kotler, pp. 23-29, 2008). The basic aim of using these marketing techniques is to achieve higher and higher sales, thus, making it all the more important for company’s success. This also emphasizes the importance of communication techniques, so much, so that the researches show that a good product can miserably fail if not advertized properly.
To diversify the means of ensuring that they can be able to provide the goods and services that are not within their reach so as to retain their customers, businesses had to device ways to meet their objectives and goals, thus business to business marketing emerged as a classic method to meet this.
Through demarcation and effective market segmentation, it becomes possible to effectively allocate the Company’s forces to specific market segments. According to Hutt and Speh (2000:7) a market segment may be
The researcher states that implementation of either B2B or B2C mode of marketing will allow SPSL to constantly target multiple markets and will mitigate the potential of stringent business competition and various other economic and financial concerns. One of the biggest consequences of B2B is high marketing and advertising costs.
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