The figures can be quite startling. According to some sources business marketing now forms the biggest portion of markets both in terms of the amount of transactions between businesses but if also looked at from the perspective of the consumers. This is particularly true for industrialized countries where specialist purchases account for about fifty percent of all the purchase transactions.
The type of company that gets involved in this outfit includes government bodies, arms-length departments and specialists firms. As governments look to build social model structures, these sorts of bulk purchases will grow to an even greater extent than they are at the moment.
These sorts of transaction levels are driven by the wide variety of avenues through which business marketing can occur. These include but are not limited to events such as trade fares, electronic media sales on the web, promotional activities, print media, public relations drives, direct mail services, and distributor material channels, the results of market research, telemarketing, directories and specialist forums. The variety of avenues means that growth is inevitable. In fact the Business Marketing Association has developed as a direct response to the increasingly high profile visibility of business marketing.
This then begs the question as to the motivations and the implications for this rapid development of this marketing sector. The first issue is technology. The evolution of technology has meant that speed is no longer an issue when trying to develop business marketing models. Likewise geographical location is no longer a permanent hindrance to good communication. Technology underpins all the developments that have been experiences in the sector and supports new innovations. Furthermore the advent of technological advancement allows for the large scale transaction models that are prevalent in business marketing.
Entrepreneurs have also played a part in as much as their desire to make profits and to look for ways for even making more profit have fueled a culture of competitiveness, often through very aggressive policies. This has meant that companies who do not take an aggressive business approach are necessarily thrown out of the market. The characteristics of transactions in the new age have moved towards flexibility in terms of adapting to the situation, the speed at which things occur , the level of new technologies that are available and the stiff competition that ruthlessly drives out weaker organizations. Marketing Strategies in this particular Business Trade sector is then forced to respond by adopting similar or improved strategies in order to meet the needs of the marketing environment.
Finally the market itself is changing even without the impetus of external forces. Whereas the past was characterized by generic services offered on an industry level, the buzzword now is bespoke. Each product is designed to suit the specific needs of the clients in a given situation. There is also a willingness to explore new ideas and opportunities in order to ensure that the market is not lagging behind the needs of its consumers. I would predict that the business trade sector will continue to grow but it probably not to be in position of completely overtake the consumer marketing sector because customers still utilize this part of the commercial world.