Explain the 3 types of business models and their differences. (B2B, B2C,C2C) Dis

Question

Explain the 3 types of business models and their differences. (B2B, B2C,C2C) Distinguish between consumer products and business products. What is relationship between market segmentation and target marketing? Give some examples of market segments that you are personally in. Identify and describe the four strategies that blend to create a marketing mix. Define supply and demand chain? This is an example of "continuous innovation" as mentioned in the Grateful Dead article. How can these processes be used as a competitive advantage for a business and why is this area of such interest today? What is a "Globally Integrated Enterprise"? Why are transformational leaders needed in industry to drive companies to this business model? In the article"7 Business Lessons from The Grateful Dead" it talks about the "experience economy". How does that relate to the Globally Integrated Enterprise?

Explanation / Answer

Qs-1:

The basic difference between these two business models is the source and destination of the model.In b2b the sourse is business and destination is also business.In b2c source is business and destination is end consumer.In c2c both the source and destination are consumers.

Following are the difference between consumer goods and business product:

Qs-2: segmentation is a process of dividing the market of a product or services in smaller group of customers who either buy the product for the same purpose or use the product in the same way.customers in any one segment are different from the customers of another segment.The objective of segmentation is to identify group of customers with similar requirements so that they can be served effectively.

Target marketing refers to the process of concentrating the marketing efforts to the target market.Target market is a group of people for which a company designs,implements and maintains its marketing mix to meet the need of that target group.

There is a significant and indivisible relationship between market segmentation and target marketing.segmentation is a means to target marketing.organizations make segmentation to identify its target market.target marketing is the choice of specific segments to serve.Both market segmentation and targeting are important for the organization to improve its marketing effectiveness.

Qs-3: marketing mix is a combination of four strategies blended well to form a consistent theme.These are the 4ps of marketing i.e product,place,price and promotion explained briefly below:

The elements of marketing mix are sensitively related to each other.The marketing mix should be well blended to form a consistent theme for the organization.All the elements should reinforce eachother to strengthen the position of the product in the marketplace.

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