Week 4 EOC: Consumer Vs Business Marketing

   Business marketing is a way in which manufacturers present their products to other businesses so they can be bought and then resold to retail customers (also known as consumers).  The business market is very large in fact it is way larger then the consumer buying market by the demand and amount of dollars.  The average American consumer market consist of more then $300 million people who consume about $14 trillion worth of goods and services each year.  That's just a round about way of showing you the business side of marketing is even bigger.  It is quite the cycle on how it works, both markets are similar in ways and are quite different in other ways.  "In some ways, business markets are similar to consumer markets. Both involve people who assume buying roles and make purchase decisions to satisfy needs. However, business markets differ in many ways from consumer markets. The main differences are in market structure and demand, the nature of the buying unit, and the types of decisions and the decision process involved. (Ch.5 pg.38 Marketing: An Introduction)"  Consumers are all around the world and they vary in age, income, household size, etc.  They often themselves don't even know what influences their buying decisions, it could be a number of things.  One of the main influential factors is culture and how one was brought up.  "Culture is the most basic cause of a person’s wants and behavior. Human behavior is largely learned. Growing up in a society, a child learns basic values, perceptions, wants, and behaviors from the family and other important institutions. A child in the United States normally learns or is exposed to the following values: achievement and success, activity and involvement, efficiency and practicality, progress, hard work, material comfort, individualism, freedom, humanitarianism, youthfulness, and fitness and health. Every group or society has a culture, and cultural influences on buying behavior may vary greatly from country to country. Failure to adjust to these differences can result in ineffective marketing or embarrassing mistakes. (Ch.5 pg.7 Marketing: An Introduction)"  This plays a key role in buying decisions which play a key role in business marketing which play a key tole in out market, so you see it is all one big cycle.