B2B (“Business to Business”) dominates the economy and your career might take you there. But most of your personal experience and MBA training is biased towards B2C (“Business to Consumer”). This course is designed to fill this gap. As a consumer, you are an experienced and active participant in B2C (“Business to Consumer), being the target of marketing campaigns. Even when not actively in “shopping-mode,” you are constantly exposed to B2C marketing activities, as you watch television or use the internet.
If you have already taken marketing courses, your personal insight into B2C enables you to understand how companies compete through powerful strategic concepts, like market segmentation, product positioning, and marketing mix. The situation may be quite different for the B2B context-and here are some of the reasons:
(1) you have been less exposed to the B2B sector.
(2) targeting a business is quite different than targeting a consumer-so while the strategic marketing concepts are universal, their application also a different challenge.
(3) in B2C your learning from one product space is generally “portable”. In B2B, your experience in one product space is more difficult to generalize, because of differences in market structures. Yet we must use analytical concepts and models there for strategic decisions.
(4) the nature of the B2C market allows industries and academics to perform research and make decisions based hard data. In B2B data is frequently difficult to collect or the number of customers is simply too small, rendering statistics not credible. That means that personal experience and learning from others is crucial for success.
Adjunct Professor of Business
Professor David Weinstein is Van Leer Professor of Industrial Marketing, Emeritus, at INSEAD. He earned his PhD in Marketing and Information Systems from Columbia University in New York and is Graduated of the Hebrew University of Jerusalem in Economics and Mathematical Statistics. His teaching, research and consulting experience span specialty chemicals, automobile, electric power, global IT software development, global IT support, pharmaceuticals...