B2B Basics: Marketing 101
At the most basic level, marketing is about an exchange of value. People exchange because they have needs and wants that they cannot satisfy on their own. Marketers define, develop and deliver value through strategic thinking and by listening to their consumers.
Keeping up with Consumers
Markets compete through superior exchanges of value. Successful marketers are aware of consumer trends and changing marketing dynamics. Customer value is what you get from what you give. In the past, value was focused on demand stimulation. Today to flourish in a B2B world, customization and segmentation are the most important frontiers in business competition.
B2B marketers manage competing influences. They want to be the leader, be the market share leader and provide the most reliable products/services in their industry. To take the lead and keep it, marketers not only need to concentrate on the traditional 4 P’s (product, price, place, promotion) but also focus on the 5th P, positioning.
Reinforcing the Position of Your Brand
Positioning is not where you place your product in the market; it is how you place it in the mind of your target consumer in a crowded marketplace. Marketers must “cut through the noise” to increase their unique position in the mind of the consumer. For example, when you hear “Miller Lite” you think of light beer. The name of the beer also supports its position as a light beer.
Developing a positioning strategy may be difficult, but it is not impossible. The challenge for marketers is to identify their strengths and opportunities in their industries. By evaluating the benefit and cost ratios of consumer value, marketers can improve their strategic concepts.