In this activity, we discuss what consumer and business markets are, as well as the different types within each market. When examining the similarities and differences between these markets, refer to the reading material and your own experiences. What did you sell this week? Did you sell something to a consumer or a business? If you sold to a consumer, could you have profited more or less if you sold it to a business, and vice versa? What type of advertisements did you see and hear this week (TV, billboard, radio, Internet, etc.)? What type of market would those fall into? Would you consider purchasing from another consumer versus a business? These are questions to think of as a marketer, whether in a consumer or business market, because you need to stay in touch with your consumer (even if that consumer is a business). The minute a seller loses the pulse of their buyer, they are out of touch, which can lead to a decline in sales. It is much harder to regain lost consumers than it is to shift your strategy while you still have buyers. If you were a business, would you sell to a consumer or another business? Why? Would that strategy fit your marketing campaign? If you were a business, how much would you spend on advertising to other businesses versus advertising to consumers? How far would you stretch your selling power if you sold to businesses versus consumers? Again, as a marketer these are key questions to ask yourself.
Investigate some websites that fall under each type of market within the consumer and business market categories below. Dig deep into these sites, and use your readings in this module, as a guide. Look at the channels of distribution for each site. What is each using? Are these channels different or similar? What are the geographic differences and similarities of the markets? What about pricing to the seller in each market? What is different or the same about the buying situations for each market? What are the advantages of each market? These are questions to think about when examining the similarities and differences between the markets.
Using the first letter of your last name, use the market identified below:
- G-L: C2B and C2C differences
Assume your audience is new to the concept; be detailed and display critical thinking.