ESSAY ON BUSINESS MARKETING.
Business marketing can be defined as the marketing activity that promotes the selling of goods or services by one organization to other organizations. Some of the organizations can be profit or non -profit agencies, commercial, government institutions, or reseller companies that use the goods and services for the production of consumer goods and services. The major activity is to communicate the values of the business product and services to another organization.
The nature of business marketing consists of an organization purchasing goods and services to use in the production of their goods and services. It is also considered to be a process in which two companies match and combine their capabilities, with the desired outcome to create customers’ values. Finally, business marketing can be referred to as the process of creating value for buying an organization that has goods and services and has its focus on buying needs.
The purpose of a business organization buying goods and services is to fulfill objectives such as production, making profits, and reducing cost among many other reasons.
Client’s needs vary from one customer to another, therefore for business marketing to be effective, there is a need for the sales representative to identify the customer’s demand and book an appointment with them. Offer a solution then seals the deal by selling the product or service.
The supply of industrial goods and services is done through the tendering process for the government institution and some private companies. The contract is awarded to the bidder whose prices are low and favorable. Companies will buy goods or services to resell either as a component or as part of their daily activities.