B2B and B2C markets units are very different in successful marketing strategies. For the modern marketing effort, a strategic marketing campaign is an essential part. The B2B customer are usually intend to investing in content marketing for growing brand cognizance and increasing new business relationships. They are more focused on value you offer. On the other hand, the B2C customer are more driven by emotional triggers. B2B customers are more focused on the data that demonstrates ROI and tangible features. As for the B2C customers are appeal more to emotions play a vital role in sales and as such entire content strategy needs to be designed with this in mind. The best market campaigns in a B2C market involve strategic storytelling. These stories are the best platforms for emotional triggers. For the B2B market stories can involve as part of beneficial but they are more focused on facts, numbers and graphs that boils down to ‘data’ and indicating ROI.
Maslow’s Hierarchy of Need is a motivational theory in psychology and proposing by Abraham Maslow in 1943. The levels are as follows (see pyramid in Figure 1 below).
Most people recognize the hierarchy of needs described as a pyramid with basic needs at the bottom (physiological, safety, belonging/love) and going through to those need for growth (esteem and self-actualisation).
My view of B2C customers are more prefer to buy the products by what their friends are using. Their purchases are very often depending on emotion-driven. As for the B2B customers are more focused on the saving money, saving time and making more money. Their purchases are usually based on data-driven. My current workplace’s marketing strategies are more target on B2B customers and they always want the service that best fits with their needs and best price.
Core values are generally indicating in the mission statement. The operating values or principle that guide an organization’s internal behaviour as well as its relationship with its partners, shareholders and customers.
Corporate Social Responsibility (CSR) also known as corporate citizenship or responsible business is define as corporate self-regulation integrated into a business model. To fulfil the CSR initiatives and to promote economic, environmental, and social advancement for purposes of sustainable development, the Company establishes the Principles to manage their economic, environmental and social risks and impact in accordance with their own corporate social responsibility principles. The Principles applies to the Company, including the entire operations of such company and its business group. The Principles encourages the Company to actively fulfil their corporate social responsibility in the course of their business operations so as to follow international development trends and to contribute to the economic development of the country, to improve the quality of life of employees, the community and society by acting as responsible corporate citizens, and to enhance competitive edges built on corporate social responsibility. In fulfilling corporate social responsibility initiatives, the Company shall, in its corporate management guidelines and business operations, give due consideration to the rights and interests of stakeholders and, while pursuing sustainable operations and profits, also give due consideration to the environment, society and corporate governance.
In my views CSR is very critical for any sustainability of any business. CSR help in social values, Environment stewardship, Business values and Marketing support. Successful CSR ensure the engagement of the community as partner. To make CSR successful ensure start with local people/area, be good to your intentions for engaging in CSR and adopt the best suitable model for you. In measuring impact of CSR companies are measuring social return on Investment (SROI) and for high impact CSR these steps can be helpful which is Transparency, Sustainable purchase, Active role within community and Innovation.
The competitive analysis is the analysis of your opponents and how they relate to the rivalry. The reason for the competitive analysis will be choose those qualities what’s more shortcoming of the challengers inside your market, strategies that will support you with a well-defined advantage, those obstructions that might make created so as will forestall rival starting with entering your market, any weaknesses that can be more advantage from the product development cycle. A competitor’s strengths and weaknesses are usually based on the existence and lack of the key assets and skills needed to compete in the market.
Porter’s Five Forces of Competitive Position Analysis were founded in 1979 by Michael E Porter of Harvard Business School which is a simple framework for assessing and evaluating the competitive strength and position of a business organization. This thinking developed out of Industrial Organisation (IO) theory in which market structure was seen as largely determining strategic conduct, which in turn was largely instrumental in determining performance. A solid competitive force performs the organization for an danger to its position in view it depressed benefit edges. A powerless competitive force on the great holders kept all offers a chance to raise edges. There are a number for macro-environmental impacts upon these competitive forces, for example, political and legal, technological, macro-economic, social and cultural factors. Despite this, the changes they occasion in the relative strengths and weaknesses of the five competitive forces require an adaptive response on the part of the firm. The Five forces are as follows (see Figure 2 below).
My View of Porter’s five forces analysis usually uses to understand whether new products or services are profit potential. This model should use where there are at least three competitors in the market. The main benefit of using this technique is that it provides for management to think about the competitive environment.
For the business to survive in long term it will need to change in management. One of the most popular model is Lewin’s model about the change model describing in three state that is Unfreeze, make change and refreeze. When changing the company to be required the primary step is to unfreeze the present process and take a look at how things are done. According to the company’ perception of the upcoming change and their natural resistance, unfreezing also applies to it. The secondary step is that engaging in new activities that identify and implementation new ways of doing things to make bring about change is call make changes. In this view, Harper (2001) suggested that the changing management effectively gives the opportunity all the relevant shareholder to be engaged in decision making and problem solving in a collaborative manner. In the final step, one the changes are consisting of people have embraced the new method of working, the organization making to refreeze readily. The outward signs of the refreeze are a stable organization chart, consistent job description and so on. With a new sense of stability, employees feel confident and comfortable with the new ways of working.
The ability to foresee, maintain flexibility and empower others to generate strategic change as necessary is Strategic leadership that involving managing through others, maintaining an entire enterprise rather than a functional distinct component, and coping with changes which increasingly continues in the global economy. The global economy’s complexity can cause that strategic leaders must learn how to effectively influence human behavior in uncertain environments.
My view about using the change management, if changes are occurring in your organization like strategic changes, tactical changes, leadership changes, technology changes then those changes are going to have impacts and effects from having not intent negative outcomes, it is more effective to have “change management” method. This method can become to minimize negative outcome and increase positive result.