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Marketing Management - Essay Example

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Summary
The Lamplighter Corporation, a highly successful consumer goods producer of lamps for the home, is contemplating entry into the business market. Through their research, the marketing managers at Lamplighter discovered that the central fixture component in their lamps may have profitable applications in the industrial setting…
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Marketing Management
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Marketing Management

Download file to see previous pages... One of the greatest differences between marketing to business and marketing to consumers is that B2B marketing is more dependent on relationship building, thus increasing the value of relationship and building brand identity on the basis of personal relationship. Another difference is that the target market is smaller and should be carefully identified. A marketing strategy for the business market should be developed taking into consideration multi-step buying process and longer sales cycle. In addition, while the goal of consumer marketing is to make a shopper a customer (emotional buying decisions can be made), the major aim of business marketing is to provide the business with business value – organizations, in most cases, make rather rational buying decisions. Therefore, multiple individuals within the target organization should be educated on the value of the product, because business procurement is a multi-step process. Historically, the auto industry is heavily affected by the 5 external environments (macro-level). For each of the five (social/cultural, political and legal, competitive, technological, and economic) discuss three aspects within each environment that would impact the marketing planning for the next couple of years. ...Download file to see next pagesRead More
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