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MY FATHER'S ADVICE... 1. Not everything will go as you expect in your life. This is why you need to drop expectations and go with the flow. 2.Reduce bitterness from your life, that shit delays blessings! 3. Dating a supportive woman is everything. 4. If you want to be successful, you must respect one rule - Never lie to yourself. 5. If your parents always count on you, don't play the same game with those who count on their parents. 6. Chase goals, not people. 7. Your 20's are your selfish years, build yourself, choose yourself first at all cost. 8. Detachment is power. Release anything that doesn't bring you peace. 9. Only speak when your words are more beautiful than your silence. 10. Invest in your looks. Do it for no one else but yourself. When you look good, you feel good. Normalize dressing well, you're broke not mad. 11. Some people want to see everything go wrong for you because nothing is going right for them. 12. Being a good person doesn't get you lov...
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Understanding the differences between a B2B & B2C Market-The Panagora Blog

 


When customer segmentation is concerned, every online store does have its very own criteria. By developing such segments, it is possible to know few distinctive features with regards to a specific group. It also becomes possible to determine the communication specificity with them. Two important segments exist B2C and B2B clients. It is necessary to analyze few essential characteristics related to both the segments with respect to the E-commerce market and understand about B2B vs B2C aspects.

What are B2B and B2C?

In case, two businesses or companies are involved in the deal, then it is termed to be B2B (Business to Business). On the other hand, if the services or products are offered by the business to any individual client, then it is stated as B2C (Business to Client).

Let’s explore some features to compare B2B & B2C:

Decision-making process

A major difference between B2C and B2B is that the decision-making processes for the latter can be complex and long, involving several people. Also, for each participant, the decision taking criteria can be different, with each of them pursuing their own objectives. It only makes the process to be poorly controlled. For influencing the situation, the roles of the participants is to be known in the decision-making process. It is essential to organize the work effectively with the individual regarded to be the ‘entry point’. All information with regards pertaining to the involved people and their roles are to be clarified. For B2C customers, this approach can prove to be useful. For instance, within the family, it is the husband who approves the budget for a purchase that is initiated by the wife.

Purchase process – its peculiarity

Irrespective of what is being purchased by the B2C or B2B customers, online purchase is generally made by an individual. It is ok with B2C customers. However, for B2B, this can spell disaster, since vital information could be lost.

Effective communications with clients

Misunderstandings can be created due to lack of information. Proper communication with customers helps the entrepreneur to derive plenty of useful information about their specific requirements. This is necessary to be collected and analyzed. The CRM system can prove to be helpful, indicating all contact details of every B2B client, controlling the cooperation process and keeping the communication history.

In conclusion, it can be safely stated that B2B customers are more or like several B2C customers, ‘combined’ in a single purchase.

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