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4MD3 Business to Business Marketing Steve Howse, C. Dir March 2, 2009 Date: Thursday March 16, 2008 2:30 to 5:20 In preparation of the exam next week - here are a few tips: • focus on the text, the lectures reinforce the readings the cases done in class are not on the exam the format is a mix of T/F, Multiple Choice, Short Answer and a Short Case it is a closed book exam, no material can be brought in except your ID, pencils/pens/ erasers and a McMaster approved calculator • A few tips 2 TIGHT AND LOOSE SALES LEADS • meaning? • tightness is created during lead generation • how create tight leads? o ask the prospect to accept an obligation o or to do some work • how create loose leads? o use an incentive • a mix of tight and loose leads is needed 3 PREVIEW OF PERSONAL SELLING • • • • • • intro to PS BM/CM differences - PS PS as an “interface function” the PS process more PS concepts tight and loose sales leads 4 DIRECT MARKETING • database-centred “marcom” • requires a response that is… o measurable o direct to the manufacturer (DIRECT RESPONSE MARKETING) • direct marketing media… o o o o direct mail e-mail telemarketing the Web 5 DIRECT MAIL • • • • • the near-perfect promotional medium mailings are typically “tiered” synergy with personal selling response rates direct mail costs 6 THE FOUR PARTS OF A DIRECT MAILING • • • • envelope letter enclosure customer-reply device 7 E-MAIL • avoid outbound "spam" • e-mail has its uses • integrate with other media 8 TELEMARKETING • systematized selling by phone o “inbound telemarketing ” o “outbound telemarketing” AKA “inside selling” is good for…. • generating qualified sales leads • selling to high-access-cost customers • even selling to all customers (low cost products) • cost per outbound contact ($15 to $20) 9 MORE ON TELEMARKETING • how to make it effective • pros to doing "in-house"? • pros to "contracting out"? 10 LISTS • needed for the foregoing forms of DM • you can create your own “house list” • or rent or purchase a list (trade publications etc) • compiled lists (scrubbed) • response lists (bought from mail before) • list brokers 11 THE WEB • • • • not strictly direct marketing B2B dominates total sales on Web (10:1) why less popular with consumers? marketer sites have varied purposes o o o o online information database publishing customer self-service transactions 12 ADVANTAGES TO MARKETERS OF THE WWW o marketer extends its geographic reach o a small marketer looks larger o customer exposure is verifiable o marketer communicates info fast and 24/7 o some two-way communication possible o low-cost alternative channel o customer outsourcing should increase 13 KEY DISADVANTAGES TO MARKETERS OF THE WWW o can undercut the basic goal of marketing • Don’t compete on price o and hurt the relationship o and lower the unit price paid - reverse auctions o swings power balance to buyer 14 OTHER DISADVANTAGES TO MARKETERS OF THE WWW o o o o o o a large marketer looks smaller suited to “cataloguable” products only not for high-risk products customers must actively search marketer must promote the site site can create channel conflict 15 ANOTHER KIND OF MARKETER SITE - ONLINE BRAND COMMUNITY • • • • BLOGS Chat rooms Website still initiated by the marketer but customers provide the content 16 THE “BUY-SIDE” OF THE WEB • online buying reduces purchasing costs • usage level varies by buyer’s industry • two types of purchasing site… 17 CUSTOMER-ESTABLISHED PURCHASING SITES • a direct link to suppliers • reverse auction 18 MIDDLEMAN-ESTABLISHED PURCHASING SITES o sites established by“market-makers” o catalog hubs o vertical market sites o reverse auctions – again! 19 Have A Goal List • Two columns (want to do & BTDTGTTS) • These are personal goals o Run a marathon or See the great wall of China o Concerts to see or vacations to go on • Some are time sensitive o Skydiving o Bike trip through Italy • Keep the list throughout your life o Add to it, remove items, enjoy what you have accomplished 20