The B2B marketing in the 21st century is distinct in many ways compared. B2B marketing in the 21st century is common on the internet platforms contrast to the print media used in the past. Most of the B2B producers are using the social media, one of the most widely used internet platform to reach their clients. The success of the B2B providers depends on branding and innovation, which has much weight in the 21st century. B2B marketing in the 21st century is successful in comparison to the prior centuries, because of the changes in the medium used to get to the clients making many businesses in the sector successful and profitable.
B2B marketing is a marketing technique where a company targets other companies with the objective of selling their products and services to them. B2B marketing in the 21st century is very different with B2B marketing in the twentieth century and prior centuries. One of the major changes in the B2B marketing is the medium used. In the twentieth century and prior years, B2B marketing used the print media, which was the best channel to market. In the 21st century, the online marketing has become more common. Most businesses prefer the online medium because it offers a wide range of clientele, as businesses can market their products and services across the world. B2B marketing allows many businesses to safe money marketing and promotes profitability of the businesses because of the wide reach.
The 21st century has availed many new methods allowing businesses to take their business to the next level. B2B marketing is different in the twenty first century compared to prior centuries. Manufacturers and producers across the world are using the online B2B marketing. Sila (2013) asserts the American manufacturers used the online B2B marketing widely and accounted for 91% of online-based transactions. B2B online transactions increased in China and other countries as well. This indicates the manufacturers and producers are using the online platforms more compared to previous years (Schultz, Schwepker, and Good, 2012). B2B marketing through the internet is more common in social media asserts Booth (2012). Social media attracts a large clientele including individuals, businesses, companies, and organizations. In fact, almost all businesses have social media accounts, links, and pages. Dash and Sharma (2012) asserts many businesses targeting other businesses as their clients are using web analytics on the social media to market their services.
The B2B marketing is highly competitive and any business has to work hard to achieve its goals and objectives. Study conducted by Akhter, Barcellos, and Fernando (2013) indicates the performances of different B2B businesses was dependent on how the businesses responded to competition pressures in their domain and the sector the business operates. Businesses in the B2B field must have good branding and be innovative to succeed in its quest asserts Merrilees, Rundle-Thiele, and Lye (2013). Businesses, companies, and organizations looking for businesses to provide products and services are sensitive to branding and innovativeness (Chen, Chen & Capistrano, 2013). Marquardt, Golicic, and Davis (2011) claim branding is crucial for B2B businesses in the supplies and logistics field. Business managers have a responsibility of branding their businesses accordingly to gain client confidence. Some companies and industries are enjoying the benefits of good B2B marketing. The Korean Pop music industry used good B2B marketing through the social media and gained immensely (Oh & Park, 2012). Keshvari, Faghani, Memarinia, and Miremadi (2012) assert B2B marketing affected the consumer behavior of Shahab Khodro Company affecting the buying behavior and consumer satisfaction.
B2B marketing is important to businesses whose clients are other businesses, companies, and organizations. B2B marketing in the 21st century is very different from the prior century. Most businesses in the B2B field are using the internet specifically the social media to reach their respective clients. However, B2B business suppliers have to be innovative with good branding to succeed in this field, which is becoming increasingly competitive. Businesses doing B2B marketing well are making profits continuously, becoming the envy of other businesses. B2B businesses failing should consider rebranding and becoming innovative to win the hearts of their target clients.
The 21st century B2B marketing is unique in many ways. The medium used in the B2B marketing in the 21st century is different, with a wider reach and effectiveness. Businesses in the B2B market are enjoying growth and profitability because of the new marketing techniques. B2B marketing in the 21st century allows the businesses in the sector to understand their clients better, making it easy for these businesses to meet the client expectations and targets. Good branding and innovation is part of the B2B marketing the businesses in this sector have to consider. It is evident the B2B marketing in 21st century is efficient and effective leading to better business growth and profitability.
References
Akhter, S., Barcellos, P., & Fernando, P. (2013). Competitive threats, strategic responses and performance of Brazilian B2B firms. Management Decision, 51(8), 1628-1642. http://dx.doi.org/10.1108/MD-10-2012-0764
Booth, K. (2012). Getting more out of social media. Wearables, 16 (1) 34.
Chen, J., Chen, Y., & Capistrano, E. (2013). Process quality and collaboration quality on B2B e-commerce. Industrial Management+ data systems, 113(6), 908-926. http://dx.doi.org/10.1108/IMDS-10-2012-0368
Dash, D and Sharma, A. (2012). B2B marketing through social media using web analytics. PRiMa: Practices and Research in Marketing 3(2), 23-39.
Keshvari, R., Faghani, E., Memarinia, A., & Miremadi, A. (2012). The Impact of B2B Buying Behavior on Customer Satisfaction within SHAHAB KHODRO Company. International Journal of Business and Management, 7(7), 151-171.
Marquardt, A., Golicic, S., & Davis, D. (2011). B2B services branding in the logistics services industry. The Journal of services marketing, 25(1), 47-57. http://dx.doi.org/10.1108/08876041111107050
Merrilees, B., Rundle-Thiele, S., & Lye, A. (2013). Marketing capabilities: Antecedents and implications for B2B SME performance. Industrial Marketing Management, 40(3), 368.
Oh, I., & Park, G. (2012). From B2C to B2B: Selling Korean Pop Music in the Age of New Social Media*. Korea Observer, 43(3), 365-397.
Schultz, R., Schwepker, C., & Good, D. (2012). Social media usage: an investigation of B2B salespeople. American Journal of Business, 27(2), 174-194. http://dx.doi.org/10.1108/19355181211274460
Sila, I. (2013). Factors affecting the adoption of B2B e-commerce technologies. Electronic Commerce Res, 13, 199-236. http://DOI 10.1007/s10660-013-9110-7
