Business to Business Marketing 1st Edition by Richard Owusu, Robert Hinson, Ogechi Adeola, Nnamdi Oguji ISBN 9780429535413 0429535414

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ISBN 10: 0429535414
ISBN 13: 9780429535413
Author: Richard Owusu, Robert Hinson, Ogechi Adeola, Nnamdi Oguji

Business to Business Marketing 1st Edition Table of contents:

Section 1 Characteristics of the Business-to-Business Market

1 The Business-to-Business Market

1.1 What Is Business-to-Business Marketing?

1.1.1 What Are the Key Components of Business-to-Business Marketing?

1.1.2 Marketing Mix Factors in Business-to-Business Marketing

1.1.3 The Marketing Philosophies/Concepts in the Business-to-Business Marketing Context

1.2 Parties in the Business-to-Business Market

1.2.1 Profit/Funding Status

1.2.2 Are Government-Owned Companies Business or Institutional/Political Actors?

1.3 Functions or Types of Business-to-Business Producers

1.3.1 Who Are Producers?

1.4 Similarities and Differences between Business Marketing and Consumer Marketing

1.4.1 Companies and Organisations as Opposed to Individual Consumers

1.4.2 Professional Buyers and Sellers and Many Actors Involved in a Firm’s Purchases

1.4.3 Fewer Buyers and Fewer Sellers

1.4.4 Large Amounts Bought and Sold at the Same Time

1.4.5 Close and Intense Interactions and Relationships

1.4.6 Project and System Purchases

1.5 Conclusion

1.6 Questions

References

1.7 Insights into Some African Business Markets: Kenya, South Africa, Tanzania and Ghana

1.7.1 Kenya’s B2B Market – Examining the Tourism Sector

1.7.1.1 Tourism – a B2B Perspective

1.7.1.2 Government

1.7.1.3 Tour Operators

1.7.1.4 Accommodation Providers

1.7.1.5 Other Tourist Services

1.7.1.6 Future Developments

References

1.7.2 The Motor Industry Development Programme in South Africa

1.7.2.1 The Motor Vehicle Industry in South Africa

1.7.2.2 Supplier Relationship in This Industry

1.7.2.3 The Motor Industry Development Programme (MIDP)

1.7.2.4 The Impact of the MIDP and APDP

1.7.2.5 Broad-Based Black Economic Empowerment (BBBEE) and Suppliers

References

1.7.3 Evolution of the Tanzanian Innovation Ecosystem

1.7.3.1 The Role of New Ventures in the Innovation Ecosystem

1.7.3.2 Case – Magilatech

1.7.3.3 Conclusion

References

1.7.4 Business Relationships in an Enterprise Cluster of Informal Artisans in Ghana

1.7.4.1 Introduction

1.7.4.2 The “Suame Magazine” Cluster

1.7.4.3 Interactions and Relationships among Suame Cluster Enterprises

References

2 Strategy in the Business-to-Business Market

2.1 Strategy for the Business-to-Business Market

2.1.1 What Is Business Strategy in B2B Markets?

2.1.2 Plan, Tactics and Strategy in B2B

2.1.3 Strategic Planning in B2B

2.1.4 Current Position and Long-Term Strategy in B2B

2.2 Formulating Strategy in B2B

2.3 Strategy in Micro-, Small and Medium-Sized Enterprises, and Entrepreneurial Companies

2.4 Contents of Business-to-Business Strategy

2.4.1 Planned, Emergent and Realised Strategy

2.4.2 Strategic Fit in B2B

2.4.3 Understanding the Industry and Business Environment

2.5 Segmentation, Targeting and Positioning (STP) in B2B

2.6 Modes of Collaboration and Competition in Business-to-Business Markets

2.6.1 Supply Chain or Value Chain

2.6.2 Network

2.6.3 Clusters

2.6.4 Ecosystems

2.7 Conclusion

2.8 Questions

References

Section 2 Marketing and Purchasing in the Business-to-Business Market

3 The Marketing Mix in the Business-to-Business Market

3.1 Introduction

3.2 The Marketing Mix and the Business-to-Business Market

3.3 Product Strategies and Mechanism in the Business Market

3.4 Price Strategies and Mechanism in the Business Market

3.4.1 Set Appropriate Pricing Objective That Aligns with Corporate Objectives

3.4.2 Decide the Pricing Strategy

3.4.3 Determine Demand – Customer Perception of Price and Cost

3.4.4 Review Offerings of the Competition

3.4.5 Select Pricing Method and Policy

3.4.6 Determine Price

3.5 Promotion Strategies and Mechanism

3.5.1 Trade Shows and Exhibitions

3.5.2 Sample Product

3.5.3 Trade-Ins

3.5.4 Price Reduction

3.5.5 Promotional Product

3.5.5.1 Personal Selling in B2B

3.5.5.2 Promotion Strategy in B2B Using Social Media

3.5.5.3 Foreign Trade Missions – A Promotional Tool for B2B Marketing

3.6 Place/Distribution Strategies and Mechanism in the Business Market

3.6.1 Factors to Consider When Designing Distribution Channels

3.6.1.1 Customers

3.6.1.2 Competitors/Culture

3.6.1.3 Company Objectives and Resources

3.6.1.4 Distribution Strategy

3.6.1.5 Product Characteristics

3.7 People, Process and Physical Evidence Strategies and Mechanisms in the Business Market

3.7.1 People Strategy

3.7.2 Process Strategy

3.7.3 Physical Evidence

3.8 Conclusion

References

4 Selling to Business Buyers

4.1 B2B Buyers

4.1.1 Manufacturer B2B Buyers

4.1.2 Reseller B2B Buyers

4.1.3 Governmental B2B Buyers

4.1.4 Institutional B2B Buyers

4.2 Participants in the B2B Buying Decision-Making

4.3 B2B Buying Situations

4.3.1 Straight Re-buy Situation

4.3.2 Modified Re-buy Situation

4.3.3 New Task Situation

4.4 Modes of B2B Buying

4.4.1 Routinised Exchange Relationships Mode

4.4.2 Organic Buying Relationships Mode

4.4.3 Transactional Buying Operations Mode

4.5 B2B Buying Decision-Making Process

4.5.1 Need Recognition

4.5.2 Specification and Research

4.5.3 Request for Proposals

4.5.4 Evaluation of Proposals

4.5.5 Order and Review

4.6 Determinants of B2B Buying Behaviour

4.6.1 Physical Influences

4.6.2 Technological Influences

4.6.3 Economic Influences

4.6.4 Political and Legal Influences

4.6.5 Cultural and Ethical Influence

4.7 B2B Buying Techniques

4.7.1 Value Analysis

4.7.2 Evaluating Supplier Capability

4.7.3 Evaluating Supplier Performance

4.8 B2B Selling Strategies

4.8.1 Adaptive Selling Strategy

4.8.2 Customer‐Oriented Selling Strategy

4.8.3 Relational Selling Strategy

4.9 Conclusion

4.10 Discussion Questions

References

5 Buying from Business Sellers

5.1 Nature of Business-to-Business (B2B) Selling

5.2 B2B Sellers

5.2.1 Manufacturing B2B Sellers

5.2.2 Merchandising B2B Sellers

5.2.3 Service B2B Sellers

5.2.4 Hybrid B2B Sellers

5.3 Principles of B2B Selling

5.3.1 Relational Sales Process

5.3.2 B2B Sales Pipeline

5.3.3 B2B Customer Account Management

5.4 B2B Selling Process

5.4.1 Finding Prospects

5.4.2 Qualifying Prospects

5.4.3 Setting up Meetings

5.4.4 Delivering a Pitch

5.4.5 Delivering a Cost Proposal

5.4.6 Negotiating Price

5.4.7 Closing the Sale

5.5 B2B Selling Techniques

5.5.1 Business Standardisation

5.5.2 Business Fraternisation

5.5.3 Personalisation

5.5.4 Probationary Business Rationalisation

5.5.5 Adopt a Focused Approach

5.5.6 Choose the Right Mode of Communication

5.5.7 Always Be on Time for Business Meetings

5.5.8 Be Very Confident and Professional While Interacting with B2B Customers

5.5.9 Follow-Up Is Essential

5.6 Conclusion

5.7 Discussion Questions

References

Section 3 Competitive Aspects of the Business-to-Business Market

6 Business-to-Business Service Delivery

6.1 B2B Service Concept

6.1.1 Production-Focused B2B Services

6.1.2 Product-Focused B2B Services

6.1.3 Process-Focused B2B Services

6.2 B2B Service Industry

6.2.1 Market Services

6.2.2 Non-Market Services

6.3 Characteristics of B2B Services

6.3.1 Intangibility of B2B Services

6.3.2 Heterogeneity of B2B Services

6.3.3 Simultaneity of B2B Services

6.3.4 Perishability of B2B Services

6.4 B2B Service Quality Models

6.4.1 Grönroos’ (1984) Service Quality Model

6.4.2 Haywood-Farmer’s (1988) Service Quality Model

6.4.3 Lehtinen and Lehtinen’s (1992) Service Quality Model

6.4.4 IT Alignment Model

6.4.5 Perceived Service Quality and Satisfaction Model

6.4.6 Philip and Hazlett’s (1997) Service Quality Model

6.4.7 Integrative Service Quality Model

6.4.8 Antecedents, Consequences and Mediators Model

6.4.9 The GAPs Model

6.4.10 SERVQUAL

6.4.11 SERVPERF

6.5 The Relevance of B2B Service Quality Improvement

6.6 Conclusion

6.7 Discussion Questions

References

7 Business-to-Business Sourcing and Outsourcing

7.1 Introduction

7.2 Why Source and Outsource?

7.2.1 Functional Sourcing

7.2.2 Strategic Sourcing

7.3 The Scope of Sourcing

7.3.1 Outsourcing

7.3.2 Global Outsourcing Evolution

7.4 The Future of Global Outsourcing

7.4.1 Spending Will Continue to Rise in All Global Sourcing Markets

7.4.2 Developing Countries Will Become Important Players in the Global Outsourcing Market

7.4.3 Business Process Outsourcing Will Overshadow IT Outsourcing

7.4.4 Outsourcing Will Continue to Grow but with New Value Propositions from the Market

7.4.5 Selective Sourcing with Multiple Suppliers Will Remain the Dominant Trend

7.4.6 Clients Will Control Driving and Designing Deals

7.4.7 Clients Will Invest Much More in Contract Management

7.4.8 Outsourcing Will Help in Insourcing

7.4.9 Outsourcing Failures and Disappointments Will Continue

7.4.10 Clients Will Move from “Hype and Fear” into Maturity

7.5 Why Do Businesses Outsource?

7.5.1 Cost Minimisation

7.5.2 Access to Capabilities and Competencies

7.5.3 Concentration on Core Business Activities

7.5.4 Sourcing Capability

7.5.5 Risk Mitigation

7.6 Why Has Africa Not Succeeded in Becoming an Outsourcing Hub?

7.6.1 High Outsourcing Costs across African Countries

7.6.2 Unavailability of Requisite Skills across Africa

7.6.3 Unfriendly Outsourcing Environment across Africa

7.6.4 Poor and Inadequate Infrastructure across Africa

7.6.5 High-Risk Profile across Africa

7.6.6 Weak Market Potential of African Countries

7.7 Conclusion

7.8 Discussion Questions

References

8 Systems and Project Business

8.1 What Are Systems and Project Business?

8.1.1 Systems Business

8.1.2 Project Business

8.1.2.1 Types of Project Business

8.1.2.2 Characteristics of Project Business

8.2 The Nature and Role of Relationships and Networks in Systems and Project Business

8.3 B2B Opportunities for Suppliers, Sub-Contractors, Consultants and Financiers

8.4 The Project Business Process

8.4.1 Phases of Project Business

8.5 The Relationship between Project Management and Project Business

8.6 Risks and Project Business Strategy

8.7 Success Factors for Systems and Project Business in Africa

8.8 Conclusion

8.9 Questions and Analysis

References (Main Text)

References (Case)

Interviews

9 Managing Business with Governments, Institutions and Non-business Actors

9.1 What Are Institutions?

9.1.1 Roles of Institutions in the African Business-to-Business Market

9.1.2 Non-profit/Idealistic/Administrative/Social Objectives

9.1.3 How Should B2B Companies Manage the Idealistic/Administrative/Social Objectives of Institutions?

9.1.4 Marketing and Management Interactions and Relationships with Institutions

9.1.5 How Should B2B Companies Manage Marketing and Management Interactions and Relationships with Institutions?

9.2 International Institutions and Non-business Actors in African Business-to-Business Markets

9.3 Non-governmental Organisations (NGOs)

9.3.1 Non-profit/Idealistic Objectives

9.3.2 How Should B2B Companies Manage the Idealistic Component of Non-governmental Organisations?

9.3.3 Marketing and Management Interactions and Activities of Non-governmental Organisations

9.3.4 How Should B2B Companies Manage the Marketing and Management Interactions and Relationships with Non-governmental Organisations?

9.4 Conclusion

References (Chapter)

References (Case)

Section 4 Strategic Alliances and Collaborative Relationships Management in the Business-to-Business Market

10 Strategic Alliance Relationships and Performance in the Business-to-Business Market

10.1 Joint Ventures and Partial Acquisitions as Strategic Relationship Model

10.2 Partner Selection for Joint Ventures and Partial Acquisitions

10.3 Key Success Factors for Joint Ventures and Partial Acquisition

References

11 Buyer–Seller Relationship in Business-to-Business (B2B) Marketing in the African Context

11.1 Introduction

11.2 Understanding the Business-to-Business Market

11.3 Types and Importance of Alliances in the Business-to-Business (B2B) Market

11.3.1 Transactions

11.3.2 Repeat Transactions

11.3.3 Long-Term Relationships

11.3.4 Buyer–Seller Partnerships

11.3.5 Network Organisations

11.3.6 Commercial Enterprise Relationship

11.3.7 Government Agencies

11.3.8 Institutions

11.4 Importance of B2B Relationships

11.4.1 Enhanced Economic Performance

11.4.2 Understanding of Customers and Other Market Actors

11.4.3 Value Creation

11.4.4 Reduces Uncertainty, Increases Exchange Efficiency and Enhances Effective Collaboration

11.5 The Role of Decision-Makers in B2B Context

11.5.1 Decision-Making Units (DMUs)

11.6 How to Develop Different Types of Valuable Business Relationship

11.7 Initiating and Influencing Buyer–Seller Relationship in Business-to-Business Markets

11.8 Performance of Non-equity Alliance in Africa

11.9 Communication Methods in Business Relationships

11.10 Governance Mechanisms in Strategic Alliances

11.11 Conclusion

References

12 Building Brand and Customer Loyalty in an African Business-to-Business Context

12.1 Introduction

12.2 Building Brands

12.3 Brand Positioning Strategies

12.3.1 Customer Value Diagnostic

12.3.2 Global Solution Integrator

12.3.3 Quality Sub-systems Provider

12.3.4 Long-Term Service Partner

12.4 Harnessing Social Media and Internet Platforms for Brand and Customer Loyalty

12.5 System and Tool to Build Customer Loyalty

12.6 Customer Relationship Management (CRM): A Tool for Building Customer Loyalty

12.6.1 Benefits of Well-Implemented CRM

12.7 Conclusion

References

Section 5 Capacity Development in the African Business-to-Business Context

13 Developing Sales and Marketing Capability in African B2B Context

13.1 Developing a Sales Organisation and a Sales Process

13.1.1 Meaning and Evolution of the Sales Organisation

13.2 Developing a Strategic Sales Organisation

13.2.1 Designing the Sales Organisation Unit

13.3 Developing a Sales Organisation and a Sales Process

13.4 KAM Business Case

13.4.1 Identification, Analysis and Key Account Value Proposition

13.4.2 Develop KAM Support Capabilities

13.4.3 Develop KAM Performance Measure

13.5 Developing Marketing Capability in Business-to-Business Context

13.6 Developing a Sales Process

13.6.1 Understanding Customer Needs

13.6.2 Solution Design to Deal Closing

13.6.3 New Product/Solution Development Opportunities

13.7 Engaging the Key Account Personnel

References

Section 6 Emerging Issues in Business-to-Business Marketing

14 Emerging Issues in Business-to-Business Marketing

14.1 The Impact of Globalisation on B2B and How Companies Are Responding

14.1.1 Delocalisation of Business Customer

14.1.2 The Globalisation of the Purchasing and Sales Function

14.2 Transitioning to Servitisation and Servitisation Strategies in Business-to-Business

14.2.1 S-D Logic and Value Co-creation

14.2.2 Transitioning to Servitisation

14.2.3 Servitisation Strategies

14.3 How Digitalisation and Artificial Intelligence Are Transforming Business-to-Business Marketing

References

Conclusion

Index

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Tags: Richard Owusu, Robert Hinson, Ogechi Adeola, Nnamdi Oguji, Business Marketing