What are the differences and similarities between B2B brand management and B2C brand management?
Pfoertsch: There are strong similarities between B2B and B2C branding but of course, the B2B market and B2C market are very different. In B2C, you have a mass market. In B2B, you have very dedicated markets. In B2B, you don’t need big advertising campaigns, but specific communication. In B2C, you think short term ? a year is a long time for consumer products. In B2B business, you live long term ? one year is short; three years is not long. That means you need more stability than for B2C. In B2C, you have a large budget. Normally, in consumer markets, 10 percent of total sales are used in marketing communications, including branding. In B2B, we use only 1 or 2 percent of sales on marketing ? 5 percent is high, and very unusual. You cannot afford the [advertising spend] you have in B2C business. That’s a huge difference. Still, in terms of the underlying principles, B2B and B2C are the same: both depend upon emotions, relationships, image, and trust. And the management time, and effort,
Related Questions
- Explain the similarities and differences between EJB CMT and the Spring Frameworks declarative transaction management ?
- Explain the similarities and differences between EJB CMT and the Spring Frameworks declarative transaction management ?
- Which workplace situation BEST illustrates the similarities & differences of leadership & management?
- What are the differences and similarities between B2B brand management and B2C brand management?
- What are some similarities and differences between B2B and B2C?
- What are some similarities and differences between B2B and B2C?
