Business To Business Market Research
Business to business (B2B) research is inevitably more complicated than consumer research. The researchers need to know what type of multi-faceted approach will answer the objectives, since seldom is it possible to find the answers using just one method. Finding the right respondents is crucial in B2B research since they are often busy, and may not want to participate. Encouraging them to “open up” is yet another skill required of the B2B researcher. Last, but not least, most business research leads to strategic decisions and this means that the business researcher must have expertise in developing strategies that are strongly rooted in the research findings and acceptable to the client.
There are four key factors that make B2B market research special and different to consumer markets:
- The decision making unit is far more complex in B2B markets than in consumer markets
- B2B products and their applications are more complex than consumer products
- B2B marketers address a much smaller number of customers who are very much larger in their consumption of products than is the case in consumer markets
- Personal relationships are of critical importance in B2B markets.
Read more about this topic: Marketing Research
Famous quotes containing the words market research, business to, business, market and/or research:
“Today the tyrant rules not by club or fist, but, disguised as a market researcher, he shepherds his flocks in the ways of utility and comfort.”
—Marshall McLuhan (1911–1980)
“The sun was shining on the sea,
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And this was odd, because it was
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The moon was shining sulkily,
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—Lewis Carroll [Charles Lutwidge Dodgson] (1832–1898)
“Towns find it as hard as houses of business to rise again from ruin.”
—Honoré De Balzac (1799–1850)
“To market ‘tis our destiny to go.”
—Robert Frost (1874–1963)
“The research on gender and morality shows that women and men looked at the world through very different moral frameworks. Men tend to think in terms of “justice” or absolute “right and wrong,” while women define morality through the filter of how relationships will be affected. Given these basic differences, why would men and women suddenly agree about disciplining children?”
—Ron Taffel (20th century)