Strategy and Trends in B2B Business: Opportunities and Challenges - A Global Prospective

The term "marketing" usually conjures images of consumer packaged goods and advertising campaigns, but, as the millennial decade winds down, business-to business (B2B) marketing actually dwarfs the consumer side of the business. The instant gratification of the Internet is so engrossing that it overshadows the long term changes it has fostered in the people that use it. People have not sat idly by as the. More important than B2B marketing's relative size, however, is its role as a complex discipline integral to selling products or services to business, industrial, institutional, and government buyers. In past decades, innovative products, great engineering, or great salesmanship alone might have been enough to close a business sale. But today's shorter product lifecycles and the intense pressures of global competition no longer allow companies the luxury of "build it and they will come" thinking. Internet has evolved; their online knowledge, skills, attitudes and behaviors have evolved alongside it. As one of the most serious of Internet users, the B2B buyer has been transformed through adaptation to the new online environment. A new genre of B2B buyer has arisen, a genus that is more connected, more impatient, more elusive, more impulsive, and more informed than its pre-millennium ancestors. “My company, before I got there four years ago, equated marketing with print advertising- one and same. But I have drunk the Kool-Aid and I believe there’s a better way.’’-Fred Sitter, Marketing Director, Duro-Last Roofing

Type: 
Management
Authors Name: 
Gyan Mani Singh Chauhan, Prof. Dr. C. Anbalagan