What is business marketing? Who is the target audience for trade marketing?

Trade marketing là gì? Đối tượng trade marketing hướng đến là gì?

When asked “What is business marketing?” ”, many people immediately think of promotions, discounts, product giveaways, etc. However, business marketing is not just that.

Readers, please join Ms. Uptalent to find out what trade marketing is and what trade marketing is for through the following article to fully understand this concept.

CONTENTS
1- What is Trade Marketing?
2- Distinguish between trade marketing and brand marketing
3- Who is the target audience for trade marketing?
4- The secrets of successful trade marketing

4.1- Improve commercial promotion plans
4.2- Creativity
4.3- Have precise objectives
4.4- Build a coherent message
4.5- Make an action plan
4.6- Build a brand strategy
4.7- Budget management
4.8- Have the right mindset regarding purchasing points
4.9- Attractive presentation of products
4.10- Understand consumption habits

1- What is Trade Marketing?

Trade marketing or trade marketing is a series of activities aimed at organizing and building industrial strategies and brand strategies in the distribution channel system.

Unlike conventional marketing strategies, trade marketing primarily focuses on buyers, retailers and distributors to achieve optimum sales and profits.

You can also understand that trade marketing refers to marketing activities at outlets such as shopping malls, supermarkets, agents, retail stores, etc. As a result, traders will focus on research and development. Deploy solutions to keep your company’s products in view. buyers.

In addition, the task of trade marketing is also to interest retailers and distributors in the import of goods. In other words, the trade marketing battle lies in the distribution channel and at the point of sale. They will need to find a way to win here so that the product can reach buyers as easily as possible.

To carry out business marketing successfully, marketers must understand the company’s buyers and customers, especially wholesalers, retailers and distributors. They will therefore have to learn and research the behavior of the company’s buyers and customers to win at the point of sale (win in store).

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2- Distinguish between trade marketing and brand marketing

As you learn what business marketing is, you will see that there is a related concept called brand marketing. So, what is the difference between trade marketing and brand marketing?

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There are two fundamental differences between commercial marketing and brand marketing: the target audience and the activities carried out.

+ About the target audience

Trade marketing targets buyers and customers (including distributors, wholesalers and retailers).

Brand marketing targets consumers.

+ About activities

Trade marketing carries out activities aimed at buyers such as promotions, discounts, displays, giveaways, trials, etc. And distributor activities such as distributor development, promotions, discounts, rebates,…

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Meanwhile, brand marketing focuses on consumer-facing activities such as TVC advertising, event organizing, public relations, digital,…

In other words, trade marketing aims to help businesses sell the most products at the point of sale, while brand marketing will conduct activities to help businesses capture the minds of consumers.

What is business marketing?

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3- Who is the target audience for trade marketing?

The next part you need to know to learn what business marketing is is the audience that business marketing is aimed at.

In marketing, there are three target audiences:

– Consumer: the main object of brand marketing.

– Shopper (buyer): the main object of trade marketing.

– Customer: general object in the company’s marketing strategy.

In fact, business marketing and brand marketing are closely related. These two activities work together to get the most sales.

Trade marketing targets both consumers and buyers to accelerate sales. At the same time, they also influence customers to motivate them to make the decision to purchase products to display in the store.

You can refer to the concept of three target audiences mentioned above to better understand target audiences in business marketing.

+ Consumers

This is the direct user of the product. This group of people may or may not be buyers. Because in some cases, buyers just buy the product but don’t actually use it. The consumer is the person who will use the purchased product.

+ Buyers

This is the person who makes the purchasing decision at the store. However, they may or may not be users.

When entering a store, shoppers may not know exactly which brand of product to purchase. Therefore, trade marketing will use incentives to attract and motivate them to make purchasing decisions.

+ Customers

Includes distributors, wholesalers, retailers, and combined wholesale and retail stores. They are intermediary partners who help companies store and transport goods.

Trade marketing will need to market products to these audiences so that they can import goods and help businesses promote their products to buyers. Simply put, trade marketing will need to help retailers sell the company’s products rather than those of competing companies.

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4- The secrets of successful trade marketing

Studies have shown that more than half of business marketing activities are ineffective in terms of brand and product category expansion. At the same time, developing the brand by increasing purchasing demand across distribution channels is the main goal of trade marketing.

So, what is the secret to success in business marketing?

To succeed in your business marketing, you can apply the following tips:

4.1- Improve commercial promotion plans

Sometimes some companies’ promotion plans seem too simple, resulting in low effectiveness. To overcome this problem, you need to consider your competitors’ promotions and strategies. From there, have an effective response strategy to attract customers to your side.

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4.2- Creativity

If you keep repeating the same old promotions or copying them exactly from your competitors’ promotions, you risk boring customers. Therefore, to increase the number of new customers, you need to be creative, especially in promoting unanticipated customer purchasing behaviors.

4.3- Have precise objectives

To achieve the best results in trade marketing activities, you must identify specific and clear objectives. You will need to design a suitable sales promotion program to expand opportunities to find new customers.

For example, during major holidays, consumers tend to spend more. At this time, we should not just distribute products, but carry out more extensive activities to attract customers. Find ways to understand consumers to bring the best results to business marketing campaigns.

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4.4- Build a coherent message

Generally, promotions do not have a great connection with the end consumer. Therefore, you should focus on delivering a consistent message across all marketing mediums, as well as integrating sales strategies across different mediums to reach your target customers.

4.5- Make an action plan

To run trade promotion programs effectively and smoothly, you need to plan before implementing them. Planning will help you have time to prepare everything thoroughly and have a clear promotion schedule.

4.6- Build a brand strategy

The main objective of trade marketing is to develop the brand and the sales portfolio. Therefore, you need to have a long-term brand strategy and a broad vision to outperform your competitors.

In addition, you should also determine the objectives of each promotion program and conduct an evaluation after the program ends in order to take steps for future improvement.

4.7- Budget management

If you can manage your budget effectively, your business projects will be more feasible. However, this is not easy to achieve due to the complexity of the sales system and programs. So you will need the help of an expert team in managing business marketing activities expenses.

4.8- Have the right mindset regarding purchasing points

The point of purchase is the deciding factor when purchasing. Therefore, you need to create a highlight to attract the attention of buyers.

Specifically, you will need to pay attention to the packaging, design, price and create a good and exceptional vision of the product.

4.9- Attractive presentation of products

In the field of business marketing, the battle for the “beautiful location” of the store is always extremely fierce. In addition, you should also arrange the goods in an eye-catching manner so that customers have the best first impression of your company’s products.

4.10- Understand consumption habits

Purchasing decisions are heavily influenced by purchasing habits such as demand, convenient location, timing of purchase, etc. Therefore, when designing business promotion programs, you should pay attention to these factors, in order to have the most suitable plan.

In short, trade marketing is not a simple activity. In fact, it is a tool to help businesses increase sales and generate more revenue and profits. Therefore, having a good understanding of what trade marketing is and the target audience of trade marketing provides an important foundation to help businesses establish and effectively use this tool.

I hope the information in the article has provided you with some useful information about the concept of business marketing. At the same time, it also helps you achieve effective business marketing for your business. Good luck!

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