Targeting markets

Question 1

Enterprises decide on the most suitable promotional mix based on whether they are targeting what?

Answer 1

Enterprises decide on the most suitable promotional mix based on whether they are targeting:
1) A business-to-business (B2B) market
or
2) A business-to-consumer (B2C) market

Question 2

Enterprises decide on the most suitable promotional mix based on whether they are targeting a business-to-business (B2B) market or a business-to-consumer (B2C) market.

What is business-to-business (B2B)?

Answer 2

Business-to-business (B2B) is when an enterprise sells its goods to another enterprise

Question 3

Enterprises decide on the most suitable promotional mix based on whether they are targeting a business-to-business (B2B) market or a business-to-consumer (B2C) market.

Business-to-business (B2B) is when an enterprise sells its goods to another enterprise.
What may the goods be?

Answer 3

The goods may be:
1) Raw materials
2) Equipment
3) Consumables (items that are used up and then replaced)
or
4) Items for resale

Question 4

Enterprises decide on the most suitable promotional mix based on whether they are targeting a business-to-business (B2B) market or a business-to-consumer (B2C) market.

What is business-to-consumer (B2C)?

Answer 4

Business-to-consumer (B2C) is when an enterprise sells its products (goods and services) directly to individuals for their own use

Question 5

Enterprises decide on the most suitable promotional mix based on whether they are targeting a business-to-business (B2B) market or a business-to-consumer (B2C) market.

Business-to-consumer (B2C) is when an enterprise sells its products (goods and services) directly to individuals for their own use. What are those individuals called?

Answer 5

Those individuals are called consumers

Question 6

B2B and B2C markets base their buying decisions on different factors.

What are the decision-making factors in B2B markets?

Answer 6

The decision-making factors in B2B markets are:
1) Ways to create a profitable return on investment
2) Ways to generate profits
3) Ways to increase revenue
4) Ways to reduce costs
5) Ways to improve efficiency and productivity

Question 7

B2B and B2C markets base their buying decisions on different factors.

What are the decision-making factors in B2C markets?

Answer 7

The decision-making factors in B2C markets are:
1) Features and benefits of the product - will it meet consumers’ needs?
2) Is the product value for money?
3) Convenience - can the product be obtained easily
4) Brand identity - what does the brand mean to consumers?
5) Emotional response to promotion of the product

Question 8

Methods of promotion in B2B and B2C markets:
What do B2B markets generally consist of?

Answer 8

B2B markets generally consist of large companies

Question 9

Methods of promotion in B2B and B2C markets:
B2B markets generally consist of large companies. How may enterprises in B2B markets use methods of promotion?

Answer 9

Enterprises in B2B markets (large companies) may use expensive methods of promotion to influence their buying decisions, such as advertising nationally, stands at exhibitions and discounts to customers for buying in bulk

Question 10

Methods of promotion in B2B and B2C markets:
B2B markets generally consist of large companies. Enterprises in B2B markets (large companies) may use expensive methods of promotion to influence their buying decisions, such as advertising nationally, stands at exhibitions and discounts to customers for buying in bulk.

B2C markets

Answer 10

B2C markets target individual consumers using promotional methods such as money-off vouchers, discounts and loyalty incentives

Question 11

There are push and pull strategies in which market?

Answer 11

There are push and pull strategies in the B2B market

Question 12

Push and pull strategies in the B2B market:
What is the pull strategy?

Answer 12

The pull strategy is when enterprises promote the product directly to consumers to create demand

Question 13

Push and pull strategies in the B2B market:
The pull strategy is when enterprises promote the product directly to consumers to create demand, for example through what?

Answer 13

The pull strategy is when enterprises promote the product directly to consumers to create demand, for example through TV advertising

Question 14

Push and pull strategies in the B2B market:
The pull strategy is when enterprises promote the product directly to consumers to create demand, for example through TV advertising.
The B2B market then what?

Answer 14

The B2B market then buys the product, as a consumer market has been built up for it

Question 15

Push and pull strategies in the B2B market:
The pull strategy is when enterprises promote the product directly to consumers to create demand, for example through TV advertising.
The B2B market then buys the product, as a consumer market has been built up for it.

What is the push strategy?

Answer 15

The push strategy is when enterprises promote the product directly to the B2B market

Question 16

Push and pull strategies in the B2B market:
The pull strategy is when enterprises promote the product directly to consumers to create demand, for example through TV advertising.
The B2B market then buys the product, as a consumer market has been built up for it.

The push strategy is when enterprises promote the product directly to the B2B market, for example what?

Answer 16

The push strategy is when enterprises promote the product directly to the B2B market, for example giving an incentive such as a discount for buying large quantities