The importance of customers & understanding customer needs is an aspect of CRM (Customer relationship management). that needs to be understood well and embedded deep into the culture of an organisation and its Business Philosophy.
Studying customer complaints & feedback helps understanding the customer better.
There are two types of customers:
Industrial Market, i.e. B2B
Consumer Market, i.e. B2C
Below are the Characteristics of B2B Market:
1. Fewer Buyer
2. Larger Buyer
3. Geographically Concentrated
4. Derived demand
5. Long Negotaition Period
6. Relatively High Value
7. Multiple Buying Influences
8. After Sales Service
Below are the Characteristics of B2C Market:
1. Friendly Buyer
2. Negative Pessimist Buyer
3. The Procrastinator
4. Mr. 'Know it all'
5. The Dealer.
Latika Goel Life Skills Consultant / Visual Communication Designer / Lifestyle Therapist / Sports Psychologist - LetzBFIT, Fortis Escorts | Marathon Runner | Strength Training Expert Founder of Fitness World LetzBFIT with Latika LetzLearn with Latika We design Intensive Training material for Psychology Students through Online / Offline Mode. Author of a Book on Strength Fitness
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