Why Do Marketing Strategies Designed to Reach Consumers Differ from Strategies

question 109

Multiple Choice

Why do marketing strategies designed to reach consumers differ from strategies designed to reach businesses?

• A) consumers expect a higher level of customer service than do businesses
• B) businesses respond better to advertising than do consumers
• C) consumers act in groups but business buyers act alone
• D) business buying often involves more technical issues

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Definitions:

Competitive Benchmarking

A process where a company measures its performance or processes against those of its competitors to identify improvements or strategies.

Industry Benchmarking

A process of measuring a company's performance, operations, or processes against the best practices from other companies within the same industry.

Process Benchmarking

The practice of comparing business processes and performance metrics to industry bests or best practices from other companies.

External Benchmarking

The process of comparing a company's performance or processes against those of other companies, typically industry leaders, outside the organization.