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8. B2B Marketing Myths debunked (what the science says)
Manage episode 447628073 series 3608014
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This (longer) episode focuses on the latest research from the Ehrenberg-Bass Institute for Marketing Science.
The discussion delved into B2B marketing myths, emphasizing evidence-based insights from the Ehrenberg Bass Institute. We specifically analyze and debunk several marketing myths that are often wrongly applied to B2B,
- including the myth that brands should focus on retaining a loyal base of customers.
- Findings emphasize that in order to grow, brands need to reach a wider audience, and not just target their current customers.
- They also explore the importance of distinctive brand assets
- and the impact of category entry points, which can be leveraged to make a brand more readily available in a consumer's mind.
- Finally, we provide an overview of the Duplication of Purchase Law, which describes the tendency for customers to share across multiple brands,
- as well as the Double Jeopardy Law, which demonstrates the correlation between market penetration and loyalty.
References:
- "Advertising effectiveness and the 95-5 rule: most B2B buyers are not in the market right now | Ehrenberg-Bass Institute for Marketing Science": https://www.marketing.unisa.edu.au/Ehrenberg-Bass-Institute/our-work/publications/advertising-effectiveness-and-the-95-5-rule-most-b2b-buyers-are-not-in-the-market-right-now
- "Brand Rejection in B2B: Incidence, Reasons and Implications | Ehrenberg-Bass Institute for Marketing Science": https://www.marketing.unisa.edu.au/Ehrenberg-Bass-Institute/our-work/publications/brand-rejection-in-b2b
- "Category Entry Points in a Business-to-Business (B2B) world | Ehrenberg-Bass Institute for Marketing Science": https://www.marketing.unisa.edu.au/Ehrenberg-Bass-Institute/our-work/publications/category-entry-points-in-a-business-to-business-b2b-world
- "How do Business-to-Business (B2B) brands compete? | Ehrenberg-Bass Institute for Marketing Science": https://www.marketing.unisa.edu.au/Ehrenberg-Bass-Institute/our-work/publications/how-do-business-to-business-b2b-brands-compete
- "The Double Jeopardy Law in B2B shows the way to grow | Ehrenberg-Bass Institute for Marketing Science": https://www.marketing.unisa.edu.au/Ehrenberg-Bass-Institute/our-work/publications/the-double-jeopardy-law-in-b2b-shows-the-way-to-grow
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