Marketing management has become an essential part in today’s world of marketing and technology which helps in the managing all the aspects of the business to help to move smoothly along the changing challenging conditions of the market. (Hutt & Speh, Pg 652, 2009)
A new dimension in marketing management is the business marketing management, as the changing conditions, it is necessary to retain the customers who are the business holders. Companies such as steel producers, cement producers etc. does not directly cater to the ultimate customers, for them their customers are the businessmen who will buy their product to produce a new product which will be used by the ultimate customers. Therefore, communicating with the business customer is entirely a different act than communicating with the ultimate customers via advertisements etc. The difficulty in winning the business customers led many of the business to business suppliers to build a product the can be used directly by the customers to help them expand their business and not to rely on the business of the other party.
Business marketing management has to be implemented by companies which cannot possibly cater directly to customers because of the mobility or type of the material they produce. Businesses such as cement productions, marble productions, steel productions etc. are companies which in any case have to implement business marketing management tactics to keep their business going. (Hutt & Speh, Pg 652, 2009)
There is a wide difference between the consumer good and business good. The consumer good is can be easily sold to the customers by using the marketing tactics but making a contract with a well established business to buy products from us to use in the production of their product is a difficult task and managing it is very necessary to achieve success. The distinct capabilities in the customer goods and the business goods is that, for a consumer goods producers their customer is a source of revenue, but for the business good producers their customer is the asset for their company as their company is directly operating on the business of his customer(s), if the customers business is getting a low profile so will their business. It is a complete chain in the business marketing management.
Business marketing management comes into play even in goods which are consumer goods. All the goods that are produced to be purchased directly by the customers may pass through the process of business marketing management, if the goods cannot be sold individually to the customer. Huge retail stores which sell millions of other products and trillions of customers daily visit the retail store to buy the products instead of going to a small shop. In order to cater those customers even the consumer goods producers have to get in business with the retail stores, using the business marketing management to reach their customers. (Blythe & Zimmeman, Pg 403, 2005)
Business marketing management has become another important factor for the businesses to keep in mind while running a business as any opportunities let down may lead to the complete end of the business in the today’s competitive world.
REFERENCES
Michael D. Hutt, Thomas W. Speh, (2009), Business marketing management: B2B, South-Western, page 652
Jim Blythe, Alan S. Zimmerman, (2005), Business-to-business marketing management: a global perspective, Thomson, Page 403