Complete 3 pages APA formatted article: Today, two of the most compelling issues facing B2B marketers today is how to not only reach buyers but how to get buyers engage.
Complete 3 pages APA formatted article: Today, two of the most compelling issues facing B2B marketers today is how to not only reach buyers but how to get buyers engage. Reaching and Getting Buyers October Reaching and Getting Buyers Market sustainability is a significant aspect of modern market. It is evident that marketers in the current competitive business environment are more concerned with customer sustainability than acquisition of new markets (Hirshleifer, J., Glazer & Hirshleifer, D, 2005). The issue becomes more complicated if the target customers are other businesses. The situation arises since customers who are business people are conversant with market trends and variations in commodity prices. This paper assesses ways in which B2B marketers maintain their buyers through effective marketing strategies. The price of commodities is the basic tool that marketers use to promote their products among buyers. However, prices of commodities are constrained by the cost of production and other expenses that may not be under the control of a business. This indicates that B2B marketers have to set the most competitive prices for their products. In this case, competitive price relates to the sales expectations of the customers. For instance, manufactures who sell their products wholesalers and retailers have to dispose their product at a competitive price. In this case, competitiveness refers to the final retail price or the marked price of the products at the retail outlets. In addition, competitive prices are subject to the prices of other related products or products that are of similar quality. Unlike dealing with the consumer, B2B customers are concerned with the extra value they achieve from the purchase. Successful B2B marketing is therefore, determined by the extra value added to the product or brought to the market. Thus, sustainability of B2B customers depends on the ability of the marketer to add extra value to the products. Companies can increase the value of their products without necessarily adjusting their prices through various ways (Muhammad, 2011). For instance letting the customers share the values of the mother company is a strategy relied upon by most producers particularly those dealing with high-tech commodities. A company that allows its customers to use its brand names and marketing facilities has more competitive business than a company that does not allow its customers to apply its values. For instance, marketers dealing with Apple products allow their customers to use their brand names and advertisements to market their own products. This is similar to the setting of retail outlets that are managed by the company. In both B2C and B2B markets, customers are continuously becoming powerful (Muhammad, 2011). This indicates that customers are more interested in the value of the products than the products themselves. In addition, customers expect businesses to satisfy their needs in order to gain their loyalty. The issue becomes even more complicated when a business is dealing with other businesses as its customers. B2B customers are concerned with the business solutions they receive from the marketers (Lawrence, Weber, Post, 2005). Therefore turning products and services into business solution is an effective strategy applied in B2B marketing. This element is related to the abilities of a business (customer) to apply the products of the company as a strategy of creating market or business dominance in their area of interest. In addition, B2B customers prefer a marketer who will advise them on how to become successful entrepreneurs than a marketer who is out to make sales and profits. This element is critical to companies that deal with highly competitive products. Marketers of such companies can maintain their market share by advising their customers on how to achieve successful business practices. The modern business environment is more concerned with sustainability than growth. This indicates that marketers should be more concerned with market sustainability than market growth. In addition modern business environment is governed by values that were insignificant in the previous markets and business environment. Economic sustainability is a value that is shared by most companies. Successful B2B marketing depends with the ability of a marketer to share the values of the company with the customers. The ability of a company to share or allow its customers shares its values and vision is a marketing sustainability strategy in B2B marketing. For instance, most companies are concerned with environmental sustainability and recycling of by-products. Enabling customers to become part of the mother business through sharing of the company’s values and vision is an effective strategy of market sustainability. In conclusion, B2B marketing has challenges that are not experienced in the common B2C market. Unlike B2C market, B2B marketing depends on market sustainability due to various limitations. Market sustainability requires the marketers to explore for competitive prices for the company’s products. In addition, marketers are required to market the value of the company besides the product. This is achieved through the incorporation of the customers into the company’s values and vision. References Hirshleifer, J. Glazer, A. & Hirshleifer, D. (2005). Price theory and applications: Decisions, markets, and information. London: Cambridge University Press. Lawrence, A. T., Weber, J., Post, J. E. (2005). Business and society: Stakeholders, ethics, public policy. 11th Edition. Boston: McGraw-Hill, Irwin. Muhammad, S. S. (2011). Key issues in B2b marketing and a need to develop appropriate theories and models. Interdisciplinary Journal of Contemporary Research in Business, 3(3), 815-825.