B2B and B2C

A good step toward becoming a better businessman is understanding that selling to consumers and selling to businesses is equally important. Neither one should overshadow the other. When people first begin their businesses, they often think about the people they will reach out to and sell their products and/or services. It is a fantastic step in the right direction. After all, those consumers have the capability of becoming loyal and being your longtime customers. However, businesses have the capability of reaching out to a much broader audience. They can also contribute toward a positive word of mouth and distribute your products or service to different locations; you can cut costs and create a mutually beneficial relationship with another company.

I like to use Disney often as an example because it has taken many decisions that I feel should be studied by other companies looking to expand. In terms of its merchandise like plush toys and action figures, Disney services these items to individual consumers, like families visiting parks, and stores such as Target and JC Penny. Disney closed many of its stores across the United States, but they continuously have items to sell, especially to those that have not been able to visit their parks. Rather than simply closing their stores and ignoring potential customers, they supply merchandise to stores with strong brands to help them sell their items. Disney would be missing a very lucrative opportunity if it only focused on individual consumers.

Serving both businesses and consumers should feel more like a partnership. When certain businesses start off it is understandable to first drive focus towards only consumers. It is natural and it is a step in the right direction. Once the business begins to pick up, it is time to consider reaching out to businesses. They can help with expansion as well as reaching a greater number of consumers, sometimes in different areas.

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