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Lecture 1

B2B marketing
Meeting the needs of other businesss while recognizing that the demand for their product is
often driven by consumers.
Ultimate goal is to add value to what they buy or use what they buy to add value
B2B demand
The demand for business products is derived from the demand for consumer products
B2B to B2C differences (characteristics of B2B)
B2B relationships tend to focus more on customer relationships
o Advertisement budgets are relatively small
o Relationship market budgets are higher
B2B decision making is much more complex
B2B buyers are more rational
Products are much more complex
B2B sales is often a technical sale
There are a limited number of B2B buying units and only a few segments
o Price-focused
o Quality and brand focused
o Service focused
o partnership focused
B2B are long-term buyers
B2B markets drive less innovation
B2B is more risk averse
Business sales cycles are much longer
B2B summary
1. B2B marketing involves building profitable, value-oriented relationships between two
businesses and the many individuals within them
Lecture 2
Culture
The collectively held values, ideology, and social process embedded in the firm
Is a function of leadership
Marketing culture
Customers are the reason a company exists
An organization-wide focus on customer need identification and fulfillment is best achieved
when the firm is characterized by a market-oriented culture (customer driven)
o A business approach or philosophy that focuses on identifying and meeting the stated or
hidden needs or wants of the customers, through its own or acquired products and
offerings
The role of the marketing function
Carry the customers voice to the rest of the firm by forging strong internal partnerships with
virtually all organizational functions
Marketing and sales barriers
In B2B firms, the relationship between marketing and sales is often adversarial
Limitations of a functional marketing structure
Functional marketing organizations are typically centralized
o It becomes difficult to allocate resources to the constituents served by the functional
marketing group
Importance of learning
Learning is the only sustainable competitive advantage
Summary
1. Culture affects how marketing integrates into a firm
2. Marketing is the responsibility of all employees
3. All functions in market oriented companies link to the customer
4. Internal partnerships can help marketing carry the voice of the customer everywhere internally
5. Sales and marketing alignment is a critical success factor
6. Organizational structure can hinder marketing effectiveness
Lecture 3
Types of organizational buying
New
Straight rebuy (most common)
Modified rebuy
Reward measurement theory
Predicts the effort the individual buyer will expend to accomplish a specific buying outcome
Some hidden motivation may exist for the person executing the buy
o Best product doesnt always get bought
Key: understand how the buyer is measured and rewarded
Role theory
Predicts an individuals buying behavior based on the role in which they have been placed as
part of a buying team or buying center (changing, formal, and complex group)
Make a decision alone- decision is said to be autonomous
Buying center roles
o Initiator
o Decision maker
o Controller- controls or sets the budgets
o Purchasing agent
o Influences- makes recommendations
o Users- actually used what is purchased
o Gate keepers- control flow of information
Formalization: the degree to which purchasing tasks and roles are written policy
Marketers are more likely to encounter buying centers when the purchase decision involves
substantial risk
o Financial risk: cost factors and potential of lost revenue
o Performance risk: will the product perform as expected
o Social risk: will the purchase be endorsed by an important reference group
Mitigate risk by
o Gather more information
o Remain loyal to existing solution providers
o Spread the risk: across multiple departments and vendors
Diffusion of innovations theory
Innovators: change seekers
Early adopters: try out new ideas carefully
Early majority: carefully accept change more quickly than most
Late majority: skeptics that will only use new products when the majority is using it
Laggards: traditionalists often critical of new ideas that only accept change after it has become
mainstream or tradition
Summary
1. Motivation for buyers can vary greatly
2. It is not always obvious or rational
3. Even though we are selling to businesses, it is the people in them that make the decisions
4. Buyers use information to reduce risks
5. It is helpful to profile buyers using the rogers adoption/innovation curve

Lecture 4
What is a market?
Any place, real or conceptual, that brings together a buyer and seller to agree on a price to
exchange goods or services
o Exchange is usually triggered by a need in B2B
Key elements: buyer, seller, demand, and supply
Value is the perception of how much the buyer benefited beyond what was paid or invested in the
product
Price= what you paid
Value= what you got
o Costs do not create value
Spot or transactional exchange
Dont care what the brand is, you choose the cheapest company
No relationship
Products with a level of complexity or significance in the creation of value are poorly served by
transactional exchange
Ex. cars.com
SCM
Ultimate goal is to reduce inventory while keeping products available when needed
Pricing
Demand is difficult to estimate
Brand equity
Buyers connect at an emotional level with brands they have come to trust
Purchasing philosophies
Adversarial
o Sees the supplier as an enemy
Partnering
o Collaborative relationship formed with vendors
Total cost of ownership: thinking about all costs that go into a purchase


Lecture 5
Value proposition
The buyer has to have a reason to choose our product over a competitors
Product mix decision: 4levels
Product level
Technology platform
Product line
Product category
Product management
Specific discipline about shepherding a product successfully through the product life cycle