Business-to-Business Introduction, Fundamentals & Functional Structure (Building Value Understanding)
Description: This session introduces the student to the fundamentals and business implications of the marketing function. Further, consumer marketing and business marketing are clearly defined and distinguished within the marketing “umbrella”. Examples and commonly accepted language (lingo) for each activity will be presented in order to clearly differentiate these two divisions of marketing. In summary, this session serves as a foundation upon which students will learn in subsequent classes how to exploit the unique characteristics of the business customer to achieve profitable growth.
Organizational Buying Behavior
Description: The key in developing successful marketing strategy is to accurately anticipate the buying behavior of the target audience. A marketer utilizes these behavioral insights by developing appropriate strategies for segmentation analyses, sales processes and marketing communication expenditures. Therefore, this session will describe in detail the organizational buyer’s journey through the purchasing process. A critical element discussed in this session is the recognition that buying behavior is dynamic. We will explore how digital technology has reshaped the traditional organizational buying precepts and how marketers can pro-actively navigate this ever-changing landscape.
B2B Segmentation, Targeting & Positioning Fundamentals (Formulate Strategy)
Description: Two criteria for success for any firm within any industry are to efficiently manage scarce resources and to effectively differentiate its product/service offering from competition. Session III of this course will identify proven techniques to successfully segment potential business customers, identify the most attractive segments to pursue (thereby maximizing valuable resources), and develop actionable value propositions that will resonate with targeted audiences. Simply stated, a successful marketing strategy relies upon on a solid foundation of segmentation, targeting and positioning.
Value Based Messaging (Design Customer Value)
Description: Perhaps the most often used word in business today is “value”. Yet, it is also the most misunderstood word in business today. During this session, we will explore the definition of “value” in its most meaningful form by addressing this following question: What does “value” mean to a business customer? Once a workable customer definition is established, we will further describe “value” in quantifiable terms, which is the most important definition for a business customer.
How to Communicate Value (Communicate & Deliver Value)
Description: It is often said that “business customers really don’t care about a suppliers’ products, they only care about their business”. If you accept this premise, the suppliers’ ability to clearly articulate meaningful customer value would seem to be another critical component to successfully execute marketing strategy. As a supplier, knowing the value you offer customers is but the first step. You must also choose the correct communication tools to stimulate meaningful customer dialog. Session V will provide students with the best practices to effectively communicate the (quantifiable) value that suppliers work so hard to develop.
Designing & Managing an Effective/Efficient B2B Distribution Channel (Communicate & Deliver Value)
Description: Continuing with the value concept, once value is created and communicated, it must be delivered. This session will focus on B2B delivery systems; specifically, how to successfully design and manage delivery linkages that enhance the value created by the supplier. The B2B marketer has many distribution options and typically employs a variety of distribution models simultaneously to reach targeted business segments. We will identify the various factors to consider when formulating optimal distribution structures. Also included in this session will be best practices in managing multiple channels to ensure the most effective and efficient delivery system possible.
Optimizing the B2B Sales Function (Communicate & Deliver Value)
Description: One of the distinct characteristics of business marketing is its reliance on a direct sales force. Many B2B customers demand the direct personal interaction of their supplier firms. In many cases, this direct contact enables the customer to better understand the complexity of suppliers’ products/services and provides customers the confidence that suppliers truly understand their businesses. On the other hand, a direct sales force enables the supplier the control of having their selling message communicated accurately and effectively. Much like the previous class on distribution, this session will discuss the factors to consider when designing a successful sales organization, as well as, the tools to optimize its performance.
Frameworks in Creating/Communicating a B2B Market Plan (Managing the Life Cycle)
Description: The final class of this course will connect all of the marketing concepts previously presented and discussed. Since marketing strategy begins with a plan, this “capstone” session will utilize the marketing plan framework as the basis of discussion. Each component of the framework will be highlighted in terms of its contribution to the overall plan construction. Additional “intermediate” strategic frameworks will also be presented and discussed. These commonly accepted business frameworks enable the B2B marketer to develop meaningful insights by efficiently collecting and rationally evaluating key market data/research.