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Business to Business Marketing Credits 3 Faculty Name Dr. Mridula S. Mishra Program PGDM (BM Regular) Academic Year and Term 2017-18 (Term 4) 1. Course Description This course draws the theory from the concepts taught in basic marketing, which includes researching and targeting customers. However, there are many important differences, that justifies the requirement for a separate course. In recent years as the internet has broadened and intertwined the fields for sales, marketing and supplier relationships in business marketing, the importance of this course has increased many folds. The selected items for this course reflect this increasing complexity, and help the students understand the nuances of handling b2b markets. The course would define and explain the nature of business marketing to illustrate different types of business marketing and how they differ from consumer markets. Different approaches to business marketing will be discussed as typified in the relationships between buyers and sellers. The course will consider the purchasing function, organizational buyer behavior, business marketing opportunities and strategy, developing a marketing mix in a business market, managing customer relationships, sales and sales management as well as managing the marketing program and customer retention. The course will not only include the approach towards product marketing but also include the marketing of services (E.g., IT, Banking, Insurance and Consulting). These Business to Business markets include producers of goods and services, intermediaries, government, non-profit organizations and any group who purchases and uses inputs to produce or resell goods and services. This course will examine marketing strategies that will result in achieving awareness, comprehension, sales response objectives and stable profitable relationships essential to continuity of commercial success of supplier organizations. In the business to business context this course examines the nature and role of internal and external relations and networks in implementing marketing strategy, their impact on a firms marketing performance and how are managed. The course focuses on various types of business relations including, cross functional, business to business, supply chain, value chain, strategic alliances and distribution channels. 2. Student Learning Outcomes Program Objectives Course Objectives 1.1 The students will demonstrate Be able to analyze organization buying and understanding of elements of purchasing functions in all sectors of the business marketing market 2.1 The students will use analytical Students will be able to identify the business techniques to identify a business problems related to Organizational Buying Behavior problem, and suggest a solution 5.1 The students will and Pricing in the B2B case produce Be able to produce a project report for a B2B problem reasonably good quality business which would include aspects of business customer documents. 5.2. The relationships, segmentation and b2b Marketing students effective and will become strategies. confident communicators Be able to present marketing decision making and communication skills for b2b marketing. 3. Required Text Books and Reading Material Basic Reading: B2B Marketing – A South Asian Perspective (11th Edition), Michael D. Hutt, Thomas W. Speh & Dheeraj Sharma; Cengage Research papers (Will be provided online on the course page) Cases (will be provided, as and when it is required in the module) Reference Books: Business to Business Marketing, Nick Ellis and Sarkar, Asian Edition, Oxford. 4. Tentative Session Plan Session Topic Issues to be discussed Reading Materials Assignment/ Exercise/ Case Analysis/Activity 1 Business Market Introduction Management to the Chapter course. 1 of prescribed book. Introduce the students to key issues in management corporate Links of customer. between marketing b2b and business strategy. Trend and Changes in Business Marketing 2 Business Market Classifying goods for Chapter 1 of the Class Exercise on Management business markets Managing Business prescribed book Classification goods of and Market Process business Doing Business across networks borders (Material Working relationships provided by the and business networks faculty to in be the class) Outcome: Market Sensing 3-4 Understanding Institutional market: Chapter firms as customers Unique characteristics 2 of Case: prescribed book Silvio Napoli at Generating and using Schindler knowledge about the (A). HBSP market Students Defining market required to read Understanding E- India are and come procurement prepared to the Understanding class. Purchasing Orientation Will address the Understanding overall issues in a Purchasing how Works B2B market with Other functions Use the concepts and firms covered in the session 1-3 for analysis of the Understanding Purchase the Decision Process case. Explore the issues faced by Schindler in India Suggest a India specific strategy for Schindler 5-6 Segmenting Business and the Business market Chapter Market Segmentation Estimating Requirements Segment Demand 4 of Class Exercise on prescribed book; and Segmenting (Material to be benefits provided by the Bases for segmenting faculty business markets class) The process segmentation in the Implementing a segmentation strategy Methods of forecasting demand 7-8 Strategies for Understanding CRM Chapter 3 of Critical maintaining in the context of B2B prescribed book appreciation of customer markets article in class - relationship Loyalty and customer Discovering profitability points Relationship Differentiation Marketing Programs (HBR, new of 1997); Business Marketing: Understand What Customers Value (Anderson and Narus, HBR. 1998) 9-10 Managing Products services Building a strong b2b Chapter 7 & 9 of Discussion and brand prescribed book for Product Quality and Business Markets Product of strategy of –IT Firms Customer Value (Students have to Product Policy do a web based Product Support research on a Strategy: The Service chosen firm and Connection share their understanding in class) 11-12 Managing Market Conventional Thinking Chapter Offerings about market offerings Constructing Flexible market offerings 12 prescribed book of Managing Market OfferingPricing Study) C2 JWS (Case Value based pricing Calculation Managing market cost offerings across of Setting of price by borders different pricing methods Suggesting pricing strategy 13-14 Business Direct, Indirect Marketing Integrated Channel Channels; Management Responsibilities and Chapter 10 Multi- prescribed book faculty E- be in the class) Commerce Exchanges in to provided by the Role of B2B Channel; Issues Channel Design (Material and Classification; of Class exercise on Channel Design 15-16 Branding of B2B B2B branding concepts, Class Notes B2B Products Brand of examples of B2B Architecture Using Discussion Brands Internet and social media for B2B Brands 17 Business Customer Touch Chapter Marketing Points; Communications Advertising; Role 13 of prescribed book Social of Discussion of examples of B2B Brands Media; Trade Shows 18 Sales Management B2B Force Personal in Organization; Selling Chapter 14 Key prescribed book Account Management of Experience sharing discussion and on and Account Management Success KAM process at IBM, Sun Pharma, and Tata Steel 19 & 20 Project Presentation and Evaluation 5. Evaluation Mode of Evaluation Weightage Quiz (Announced and 30% Surprise)-3 in number, each of 15% weightage. (Best two will be considered) Class participation in the 15% form of individual exercises/answers of case questions etc. Group Project 10% End term Examination 40% 6. Pedagogy A variety of methods will be used to accomplish the above objectives which would include lectures, in class group discussions, case studies & assignments. Emphasis will be placed on active student participation and discussions. Students are required submit the case assignment as given by faculty before the discussion. Each class exercise will be evaluated. 7. Academic Integrity As per institute manuals and policy