Analyzing Markets and buying behaviour

Markets:

• There are two markets. Consumer Markets and Business Markets.
• If a company directly sells its products to customers then it is called B2C selling and if company sells to another company , this process is B2B selling.

Buying behavior:

1. Problem Recognition                   
2. General need description            
3. Product Specification                   
4. Supplier Search                           
5. Proposal Solicitation
6. Supplier Selection
7. Order-Routine Specification
8. Performance review

Characteristics of B2B and B2C Marketing:

Classmate is a notebook priced at Rs 40.  Classmate implements B2C marketing. The look and cover always change according to trends.

In B2C marketing the social acceptance and image are of high importance. Classmate made sure that there is high quality and also enjoyed the I.T.C. image . This ensured high approval.

There are different preferences for the customers. So it is important to satisfy all their requirements and preferences. For example a person might want plain notebook, another might want broad ruled notebook, and some other might want single ruled notebook, classmate made sure that it had all variety of notebooks.  Multipurpose books have also been launched for the college students.


Classmate has dealers and retailers as intermediaries between the company and customers.
Transaction between dealer and classmate can be a B2B transaction and similarly transaction between dealer and retailer is also B2B.
Here the sales of classmate to dealers depends on facts and figures of all the variants that are sold. If the sales of one particular variant is more then there is a possibility that the dealer wants more of that variant. Same applies to the retailer dealer transaction. The B2B marketing depends on quantifiable results.