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Business Marketing Is Radically Different from Consumer Marketing
Business marketing is different in the following ways:
Buyer and seller relationship
In consumer markets, there are a few industries where close personal relationships exists between buyers and sellers. Perhaps in those instances where personal selling is the most important element of the marketing mix and where customer service is also important, relationships between buyer and seller may exist. These situations however are rare.
In business marketing, situations where strong personal and business relationships grow between buyer and seller are not as rare. The strategic importance of many purchases is too great for companies to always shop around when making a purchase; they need to make absolutely sure that the product fits their needs and that it will be available when needed at the right cost. Therefore, many companies enter into long-term contracts, build relationships that enable buyers and sellers to plan jointly, and work to secure for both companies.
For example, BASF is a world leader in carpet manufacturing. …
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