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A Business Marketing Perspective Chapter 1 What are Business Markets? • “Markets for products and services, local to international, bought by businesses, government bodies, and institutions for incorporation, for consumption, for use, or for resale.” Business Marketing Management • B2B vs. B2C – Do firms have to be one or the other? – Which is larger? – What’s the difference? • Business Consumers – Commercial enterprises – Institutions – Government Business Markets v. Consumer Markets • Market-driven firms – Characteristics • Place customers’ needs first • Know the environment • Coordinated use of inter-functional resources – Capabilities • Market-sensing capabilities • Customer-linking capability What Do Business Marketing Managers Do? • Partner for Increased Value • Create a Value Proposition – How? – What is a value proposition? – Customer solutions MKT v. “Those Other Guys” • • • • • • • Finance Accounting Logistics Customer service R&D Procurement Manufacturing Characteristics of B2B • • • • • Derived Demand Fluctuating Demand Stimulating Demand Price Sensitivity Global Marketing Perspective B2B v. B2C MKT MIX Promotions Product Price Place B2B B2C Relationship Marketing • What is it? The Supply Chain • “A technique for linking a manufacturer’s operations with those of its suppliers, intermediaries, and customers to increase effectiveness and efficiency.” • Shifts in SCM • Cespedes’ “concurrent marketing” Commercial Enterprises • Types – Users – Original Equipment Manufacturers (OEMs) – Dealers & Distributors • Understand buying intentions Classifying Goods for the Business Market • Entering Goods – Raw materials – Manufactured materials and parts • Foundation Goods – Installations – Accessory goods • Facilitating Goods – Supplies – Services • Maintenance and repair support • Advisory support