The option for B-to- B companies but is

Topic: BusinessMarketing
Sample donated:
Last updated: May 7, 2019

The traditional approach to describing buying behaviour of the consumers involves four phases.

1. First contact: The consumer starts with a certain number of brands that he has becomeaware of through advertising or referrals from friends and acquaintances.2. Selection: It reduces the number of brands by selecting and constraining certaincharacteristics of the product or potential brands.

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3. Comparison: He weighs and compares.4. Purchase: He chooses a brand and thus a product.

An engaging customer experience is more important to most consumers today than brandloyalty. New technologies such as chatbots or augmented reality are very popular with buyers intoday’s world. For the brands, new technologies such as Artificial Intelligence offer idealconditions to meet the increased expectations of consumers in the digital age. AI systems canhelp to process even complex data in no time at all the needs of the customer. Data-drivenmarketing approaches are on the rise. The buzzword ;Big Data; is becoming more and moreimportant in marketing.

The surveyed marketers, on the whole, rate their own organizationpositively regarding the collection and use of data for marketing activities. The growing trust indata-driven marketing is also reflected in consumer behaviour along the consumer journey andin advertising impact research. The customer decision journey is particularly interesting inonline marketing and digital channels, as it is possible to accurately map consumer behaviourusing tracking technologies. The technology of customer analysis provides the concrete benefitof revealing all the contact points that arise through advertising.

The digital transformation is no longer an option for B-to- B companies but is critical today tosurvive in the marketplace. There are prerequisite standards by customers and competitors, butalso strategic opportunities. The challenge is the right fields of action for the respective companyreality and then successfully put them into action.

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