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Fundamental Differences between Business Markets and Consumer Markets

One of the most common mistakes that occur regarding the world of commercial transactions is to think that business markets are the same as the consumer market. It is unfortunate because even though both are similar in terms of concept, there is clearly a difference.

The fact that you must remember about the business market is the exchange of goods transactions that occur between one company and another company for resale or to be used as raw material for products. Meanwhile, the consumer market is an exchange of goods transactions between producers and household consumers.

Another term for the mention of business markets is business-to-business (B2B). Whereas the mention of the consumer market is business-to-consumer (B2C). Here are five basic differences between the two terms:

Business Needs vs. Consumer Desires
Most of the products or products that consumers want are products that are circulating in the free market, which may not even really be consumers' needs. Such as entertainment services, electronic goods, or vacation travel packages. Consumer behavior is usually based on characteristics such as style, fashion. or other things that are "prestige". Emotional factors play a large role in consumer purchasing decisions. So, consumer marketing focuses on how to stimulate consumer buying behavior through persuasive messages and media investments (promotions) to generate consumer demand.

Instead, companies as producers are usually ready to buy solutions for the raw material requirements needed for daily operations or to solve certain business problems related to cost efficiency. Their needs are truly measurable and oriented according to planning. Characteristics such as product performance are far more important than the product image that applies in the consumer market. Buyers in the business market are less emotional and more oriented towards the company's operational targets. They only think about the problem of how to find suppliers that can best meet the needs of the company.

Customer Quantity
The scope of the business market area is smaller the consumer market. Maybe market participants in Pasar Bisnis can only reach customers, but in the consumer market can generate up to millions of customers. Because of its smaller size, it is often possible to identify and map profiles of various types of businesses.

Level of Proximity to Customers
In the consumer market environment, communication often ends with transactions. Companies as producers rarely make personal contact with consumers. Business relationships, relationships between buyers and sellers are very close. In many cases, customers or companies directly and establish business relationships in the long term.

Transaction Process
Buyers in the ordinary consumer market. Use an uncomplicated transaction process. The multi-step information process, is more complicated with the process of transactions on consumers that are carried out specifically over a period of time.

Product Form
Many products in the business market are needed, in terms of high specifications and requirements for company needs. Daily-use products, such as machines for production factors, can be used for products in the consumer market because they require companies that need such products or goods. Customer needs in very different business types of relationships that are intimate and also include the type of product, service, and price adjusted. If there are problems in the business market, there are usually several levels of the amount of logistics, shipping services, and payment methods.

Here are five differences between the business market and the consumer market. Judging from both, it is very clear that it is worthy of being needed

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