2008 Woodie Awards
Business students should consider B2B market
Nathan Cape
Issue date: 10/5/07 Section: Editorials
- Page 1 of 1
According to the American Marketing Association, the business-to-business e-commerce marketplace had online sales totaling more than $2.7 trillion in 2004, in comparison to just $184 billion in the business-to-consumer marketplace, which included retail sales. There is a substantial difference between the B2B and B2C markets, but job expectations do not necessarily reflect the size of the markets.
When students think of marketing careers after college, especially freshmen or sophomores, their focus is directed toward the consumer marketplace, but by the end of their college career they will usually be able to find a professional career in the B2B marketplace faster than the B2C. When a student initially thinks of the B2B marketplace, they will think of dark warehouses with little interaction with the outside world, and they will think of the B2C marketplace as an environment of fast-paced advertising and customer interaction. However, how could you blame them? When an individual is growing up they usually are immersed in an environment bursting with advertising and marketing that is aimed at them, the consumer.
I would encourage business students to take an in-depth look at the B2B marketplace and give it a shot while completing their college courses. There are more opportunities in the B2B market than can be imagined, and it is important to see the differences of the two marketplaces first-hand to develop your own opinions.
The B2B marketplace defines itself on strong, long-lasting relationships between businesses that have formidable market power and large-unit transactions. On the other hand, the B2C marketplace includes many small transactions with many consumers with similar needs. B2B may have a smaller amount of transactions than B2C, but the mammoth transactions that take place in B2B shadow over any deal in the B2C.
If a student of business has a sole focus on the B2C marketplace and is blind to the opportunities available in the B2B marketplace, they may find themselves in a world of hurt when graduation rolls around and they find themselves searching for B2B opportunities that have already been grasped by the well-rounded business students. If you have not considered the B2B marketplace and the opportunities that are available, I would encourage you to step away from B2C for just one day and take an in-depth look at the business-to-business market of $2.7 trillion.
- Nathan Cape is a senior marketing major, a Monfort College of Business Learning Community Resident Assistant and a Mirror columnist.
When students think of marketing careers after college, especially freshmen or sophomores, their focus is directed toward the consumer marketplace, but by the end of their college career they will usually be able to find a professional career in the B2B marketplace faster than the B2C. When a student initially thinks of the B2B marketplace, they will think of dark warehouses with little interaction with the outside world, and they will think of the B2C marketplace as an environment of fast-paced advertising and customer interaction. However, how could you blame them? When an individual is growing up they usually are immersed in an environment bursting with advertising and marketing that is aimed at them, the consumer.
I would encourage business students to take an in-depth look at the B2B marketplace and give it a shot while completing their college courses. There are more opportunities in the B2B market than can be imagined, and it is important to see the differences of the two marketplaces first-hand to develop your own opinions.
The B2B marketplace defines itself on strong, long-lasting relationships between businesses that have formidable market power and large-unit transactions. On the other hand, the B2C marketplace includes many small transactions with many consumers with similar needs. B2B may have a smaller amount of transactions than B2C, but the mammoth transactions that take place in B2B shadow over any deal in the B2C.
If a student of business has a sole focus on the B2C marketplace and is blind to the opportunities available in the B2B marketplace, they may find themselves in a world of hurt when graduation rolls around and they find themselves searching for B2B opportunities that have already been grasped by the well-rounded business students. If you have not considered the B2B marketplace and the opportunities that are available, I would encourage you to step away from B2C for just one day and take an in-depth look at the business-to-business market of $2.7 trillion.
- Nathan Cape is a senior marketing major, a Monfort College of Business Learning Community Resident Assistant and a Mirror columnist.
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