...advertising, public relations, trade event, direct marketing, sales promotion and personal selling. Advertising: Advertising is the process through which a company draws attention of the members of public about its products and services by communicating it to them through advertisements which are communicated through various sources of medium like TV, Radio, news paper and leaflets. The main disadvantage of advertising is it involves high costs (Bertrand et al, 2010). Public Relation: Public relation is the process through which a company communicates the positive messages about itself and its services through press releases and events that are conducted by the company. The main disadvantages of public relation are that designing and implementing a public relation campaign is a complex process and the success of the process is hard to measure (Karimi, 2013). Trade Events: Trade events are processes through which a company displays its products and services to the members of the public to create awareness through trade fairs to create awareness and increase its market share. The main disadvantage of conducting trade events for a company is that they may not attract and deliver the message to the target customers of the company (Gottlieb et al, 2011). Direct Marketing: Direct marketing is the process in which a company provides marketing information about its products and services directly to its customers to increase awareness and market share. The main disadvantages of direct marketing...
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...Market Segmentation in B2B Markets Written by Paul Hague and Matthew Harrison Satisfying people’s needs and making a profit along the way is the purpose of marketing. However, people’s needs differ and therefore satisfying them may require different approaches. Identifying needs and recognising differences between groups of customers is at the heart of marketing. What Is Marketing If It Is Not About Segmentation? CVS Pharmacy is one of the most successful drug store chains in America. What is the reason for this success? They understand their market and have approached it through segmentation and targeting. The company looked at its customer base and found that 80 percent are women. With this in mind, CVS redesigned 1,200 of its 6,200 stores to meet the needs of busy, multi-tasking women by offering shorter wait times for prescriptions, wider and better-lit shopping aisles, and more beauty products. In doing so it fulfilled the requirement of all good marketing orientated companies – it identified the needs of its customers and organised its offer to better meet them. This is at the heart of all good marketing – meeting customers’ needs profitably, and allocating finite resources in such a way that profit is maximised. This means not wasting time or resources on customers who would be less profitable, and treating the key targets not as one homogenous population but as distinct groups with distinct needs. It is very rare for even two customers to have identical needs to...
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...Segmentation in B2B Markets A White Paper by Paul Hague and Matthew Harrison of B2B International WHAT IS MARKETING IF IT IS NOT ABOUT SEGMENTATION? CVS Pharmacy is one of the most successful drug store chains in America. What is the reason for this success? They understand their market and have approached it through segmentation and targeting. The company looked at its customer base and found that 80 percent are women. With this in mind, CVS redesigned 1,200 of its 6,200 stores to meet the needs of busy, multi-tasking women by offering shorter wait times for prescriptions, wider and better-lit shopping aisles, and more beauty products. In doing so it fulfilled the requirement of all good marketing orientated companies – it identified the needs of its customers and organised its offer to better meet them. This is at the heart of all good marketing – meeting customers’ needs profitably, and allocating finite resources in such a way that profit is maximised. This means not wasting time or resources on customers who would be less profitable, and treating the key targets not as one homogenous population but as distinct groups with distinct needs. It is very rare for even two customers to have identical needs to each other. In a perfect world, we would identify those customers that we deem to be profitable, and then treat each one of those individually according to their unique needs. In any market with a sizeable target audience, even this is likely to require more resources...
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...INTRODUCTION The idea or concept of Business to Business (B2B) marketing has existed for centuries but for a long time it had been ignored and remained in the shadows of the more traditional Business to Consumer (B2C) marketing (Pitt & Honeycutt, 2001). It is over the last two decades has more light been shone on this important phenomenon- where businesses trade with other businesses, governments and Institutions . It is essential to first and foremost understand that B2B marketing cannot exist in isolation, the existence of B2B and B2C markets are in many ways dependent on each other for its survival and growth, a single demand for a B2C product such as a car gives rise to millions of B2B market demands such as aluminum, leather, steering systems, engines, etc (derived demand). Furthermore a failure in one market will have significant detrimental impact on the other. This essay however aims to identify the differences that exist between the two markets and how multinationals such as Hewlett-Packard (HP) implement separate marketing strategies based on the distinctions that exist within the market and their consumers. PRODUCT DIFFERENCE (standardized vs. complex) Hewlett Packard (HP), famous for its laptops, desktops and printers and storage devices sells its products in both markets. The B2C market it operates is more standardized and less complex that its B2B counterpart. Large groups of individual customers exist whose specifications for the products are more or less...
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...making a purchase. B2C eCommerce can be any business selling a product, service or information to consumers online. B2C in eCommerce is basically electronic retailing or shopping electronically. B2C’s can be anything from vacations, cruises, airline tickets, games, books, clothes etc. The coined term B2B or business to business describes a form of business when one company buys from or sells to another. An example of a B2B in tangible terms would be a copy machine salesman going door to door to business’s trying to sell copy machines to offices. An example of a B2B eCommerce site would be a copy machine website serving the copy machine needs of offices all over the world. B2B eCommerce is more than just buying or selling however, many B2B sites now outsource their supply chain as well. B2B’s include processes that either enable or improve relationships between individual firms or multiple companies. B2B’s can include design, engineering, supply, delivery, accounts payable, accounts receivable, product search, electronic payments and managing logistics. There are many differences in B2B and B2C sites, in which I will try to outline and define through the course of this paper. The volume of B2B transactions is usually much higher than that of B2C transactions. The main reason for this is that typically businesses adopt electronic commerce technologies more frequently than consumers do. Typically, many B2B transactions take place before the one B2C transaction...
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...CHAPTER 1: THE AGE OF SELLING, SELLING AND SALESPEOPLE SELLING IS PERVASIVE The pervasiveness of selling in practically all human endeavors, occupations, preoccupations, and professions that require contact and engagement with people is by itself a compelling reason to formally study the art and science of selling. It is an art because it requires skills that have to be constantly practiced to achieve, at least, a decent level of excellence or perfection; on the other hand, it is also a science because it is an organized common sense and borrows a lot from applied sciences like psychology and sociology. SALESPEOPLE, UNDER THE LENS Salespeople engage in a wide range of activities for the firm. They provide information about the firm’s products and services to target market or customers; they remind and persuade customers to buy them. They are the revenue-earners of the firm. The types of job salespeople do depend on the firm’s mission/vision, goals and objectives, and the role the firm plays in the channel of distribution. Basically, the nature of the job is affected by the type of accounts salespeople handle, such as manufacturers, distributors, wholesalers, retailers, or individual customers. Fred Wiersema, the author of Customer Intimacy, has put it quite candidly that firms are in business because of their customers. Without satisfied and loyal customers, businesses will not grow and prosper. Not even the brilliance of their finance people, neither the charisma...
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...Customer Satisfaction Surveys A White Paper by Paul Hague and Nick Hague of B2B International E-mail Web Blog info@b2binternational.com www.b2binternational.com www.b2binternational.com/b2b-blog/ WHY CUSTOMER SATISFACTION IS SO IMPORTANT It seems self evident that companies should try to satisfy their customers. Satisfied customers usually return and buy more, they tell other people about their experiences, and they may well pay a premium for the privilege of doing business with a supplier they trust. Statistics are bandied around that suggest that the cost of keeping a customer is only one tenth of winning a new one. Therefore, when we win a customer, we should hang on to them. Why is it that we can think of more examples of companies failing to satisfy us rather than when we have been satisfied? There could be a number of reasons for this. When we buy a product or service, we expect it to be right. We don’t jump up and down with glee saying “isn’t it wonderful, it actually worked”. That is what we paid our money for. Add to this our world of ever exacting standards. We now have products available to us that would astound our great grandparents and yet we quickly become used to them. The bar is getting higher and higher. At the same time our lives are ever more complicated with higher stress levels. Delighting customers and achieving high customer satisfaction scores in this environment is ever more difficult. And even if your customers are completely satisfied with...
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...market whose scope is purely domestic to a more complex market dimension- The business to business market. (B2B). Fast moving consumer goods (FMCGs) are those products with a short shelf life as a result of the high frequency with which they are sold and also because some of them are easily perishable. One major characteristic of FMCGs is that they sell fast at a relatively low cost. Examples of these products include perishable foods such as meats, fruits, vegetables and baked foods; Fast selling goods such as soft drinks, alcohol, processed and prepackaged foods as well as toiletries etc. These goods are bought frequently due to their essential nature in the daily life of consumers. (Erdoğan and Taymaz ,2005). Of interest to a marketer is a clear understanding of the characteristics of this type of goods and the FMCGs market in general. FMCGs market involves a high volume of goods per day for example. This is due to the fast moving nature as well as the essential of the goods. Some of them are have to be bought by consumers on a daily basis. As a result, the companies dealing with these goods have an extensive distribution network in order to reach as many consumers as possible. The stock turnover is also high. Profit margins are relatively small due to the nature of the goods dealt with in this type of business. BUSINESS TO BUSINESS Business to Business (B2B) is type of commerce transaction that exists between businesses, such as between manufacturers and wholesalers...
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...organization’s attitude to social responsibility and corporate citizenship. In recent times, every successful company has one common agenda at all stages – their main aim is to focus on customers and also they are heavily loyal to marketing. Every companies share a passion for understanding and satisfying the wants and needs of their customers in distinct target markets. The world where the marketing takes place is a self-motivated and potentially very exciting one. However, what it actually means, and how it benefits for the business. Marketing “ is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, services to create exchange that satisfies individual and organizational goals”(AMA,1985). The marketing includes all these things including own experiences that influence and encourage customer’s attitudes to organizations and the product packages on offer. It helps consumers to build expressive bonds with the products they purchase, and to gain psychological as well as functional satisfaction from their use. The Chartered Institute of Marketing defines marketing as, ‘Is the Identification, Anticipation, and satisfaction of customer needs, profitability’. The main role of every organization is to create image and lasting customer relationship in the market based on creating value. Marketing is a process or efforts by organizations to inspire society/community to get them best solutions by offered products or services. Example...
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...[pic] NAME: SHARON HUTCHINSON MODULE#: 01- MARKETING (G) NUMBER: RDIHCBF002G DATE SUBMITTED: 30/10/2009 TUTOR: MS. PAULA REILLY TABLE OF CONTENT 1. Introduction 3 2. Concepts and Process of Marketing a. Alternative definitions of Marketing 4 b. Main characteristics of a Marketing Oriented Organization 4 –5 c. Selling Concept with Marketing Concept which describe McDonalds 6 d. Benefits of implementing a Marketing Approach to McDonalds 6 – 7 3. Segmentation, Targeting and Positioning a. Two Marco and one Micro to marketing undertaking by McDonalds 7 – 8 b. What is Segmentation and Three criteria for McDonalds 8 c. The Target Market of McDonalds 8 - 9 d. What is buyer Behavior and benefit to McDonalds 9 4. Marketing Mix a. Analyses how McDonalds gain competitive advantage through 9 -10 their products b. Distribution Strategy used by McDonalds 10 c. Explain how prices set by McDonalds reflect their objectives and 10 - 11 marketing condition d. Methods McDonalds used to promote their products/services and how 11 effective they are. 5. Marketing Segments and Contexts a. Choose one McDonalds product and devices two marketing mixes 12 for the product b. Difference between marketing to organization rather than consumers 12 - 13 c. Explain how and why International Marketing differs from 14 - 15 Domestic Marketing for McDonalds 6. Bibliography...
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...Marketing Environment 7 Marketing and its relationship with other functional areas of business 8 RESEARCH AND DEVELOPMENT 8 Human Resource 8 Customer service 9 Planning 9 Goals and Objectives 9 Planning Gap 9 Ethics in Marketing 10 Market Research 10 Research methods & Data Mining 10 Market Research Process 11 Consumer Behavior 11 B2C vs. B2B 11 Marketing to B2B 11 Marketing to B2C 11 Consumer Decision Making Process 12 Factors Affecting B2C and B2B consumer behavior 12 Market Segmentation 12 Market Segmentation Concepts 12 Behavioral 12 Demographic 12 Geographic 12 PRODUCT 13 o Core product 13 o Actual product 13 o Augmented product 13 Product life cycle 13 o Introduction Stage 13 o Growth Stage 13 o Maturity Stage 13 o Decline Stage 14 BSC model 14 Services Marketing 14 Price determination and Pricing Strategies 14 Supply 14 Demand 15 Competition 15 Objectives and Strategies 15 o Price skimming 15 o Price penetration 15 Distribution channel 16 Logistical arm 16 Marketing arm 17 Length and width 17 Direct and indirect 17 o Direct channels 17 o Indirect channel 17 Verbal & Horizontal channel conflict 17 Verbal channel 17 Horizontal channel 17 Promotion 18 Communication process and tools 18 The five communication tools are: 18 Push vs pull 19 Push strategy 19 Pull strategy 19 Personal selling and global markets 19 Promotion Mix 19 ...
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...Strategic Selling Assignment #3 1. Plante Moran wants to help their clients learn more about running a business and help them tackle their biggest challenges within the company. They offer consulting services including audit, accounting and tax services to help companies minimize risk and validate opportunities by analyzing a target companies past, current and project performance. This publication achieves this in this issue specifically by covering the following topics: -implementing an advisory board within a company -insights on a family owned business -the rise of technological innovation, specially ‘wearable’ technologies -IRS advice -discussion on senior citizen housing -ideas on strategizing within a company -making data consumable and actionable -warnings about information security -build a well conceived plan for your portfolios instead of chasing fads -how technology is used to satisfy customers -business owners that want to sell their company 2. Plante Moran’s audience is business owners and business leaders that seek consulting with areas covering audit, accounting and tax. 3. The strategic risks that clients of Verndale Products pointed out to Verndale was that they expanded to Detroit and that other companies don’t use the drum-dried process. 4. The action that Verndale took to focus on the worry about expanding to Detroit was that they started out with a $10 million dollar project and ended up with a $21 million dollar project...
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...of a Sales Manager - Where applicable, provide theories to support the evidence b) Describe the responsibilities and challenges (E.g., what should a sales manager do when sales slump or drop off? or how to handle stress situation of sales target, manage sales team diversity and so on) 3. Describe the Process of Selling and Buying of B2B or B2C from the experiences shared by the sales manager (guest speaker) and provide practical examples to illustrate, included: c) How to prospecting a customers d) How to building rapport e) Discuss critical aspects in relationship selling 4. Sales Performance and Others a) Discuss recruitment and selection b) Leadership and motivating sales forces c) Leadership and motivating sales forces d) Compensation, incentives, non-financial reward and personal satisfaction 5. Conclusion (5) a) Discuss your own point of view regarding the challenges. Group mark: _______/100% ___________________ Grade RULES OF THUMB The creativity of the report presentation, analysis and idea arrangement is highly marked The credibility of information source/reference must be guaranteed Quality not quantity! ASSIGNMENT 2 - B2B/B2C SALES CALL PRESENTATION BA032IU SALES MANAGEMENT Presentation Marking Sheet Group: _______________________ Date: ________________ c) Quality of presentation (preparation, speech and clarity) 1 2 3 4 5 d) Content (level of research and relevance of information) 1 2 3 4 5 e) Using multiple...
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...only a few have duplicated. With other websites like Google and YouTube, competition has stirred up web wars through customer attraction. This paper will dig deeper into the ongoing competition as well as the strategy that Amazon has taken putting themselves in the position Amazon, is it in today? Everyone has the option to go with any website they choose while choosing the services they expect. Reasons along with examples are described and investigated within. The Evolution of Amazon There are fierce competitions between different online retailers available. One of the largest being Amazon, Google should be included into the mix of competition. Everyone one around the world has and does business with one or more of these online providers daily. Amazon has spent billions of dollars to generate and build infrastructure while using only ten percent of its capacity at any given time. It has become reality and inevitable that attempting different approaches to get the upper hand with advertising and other angles helps and gets the word out. Amazon does this while leading themselves into the “heavy hitters” they have become. Keeping goals that have been put into place and into the direction of overall superiority is and always will be priority. With Amazon, Google competition with gaining respect and giving the customer superior satisfaction, the fight for the number one spot is ongoing since the goal for all three is to be the biggest and the best online...
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...Assignment 2: Promotion Mix/ Personal Selling & Global Markets MARKETING PLAN Cassius Matthis Principles of Marketing | MKT230 BLC | AN150326.0429.5W April 27, 2015 Russell Corpron The Waters Bottling Company 2015 Marketing Plan TABLE OF CONTENT Section 1 – The Environment * Introduction to Marketing * The Marketing Mix * The Marketing Environment * Marketing and its relationship with other functional areas of business * Strategic Marketing * Planning Process * Strategy * Organizational Levels * Goals and Objectives * Planning Gap * Ethics in Marketing Section 2 – Market Research & Targeting * Market Research * Research Methods & Data Mining * Market Research Process * Consumer Behavior * B2C vs. B2B * Consumer Decision Making Process * Factors Affecting B2C and B2B consumer behavior * Market Segmentation * Market Segmentation Concepts * Segmentation Process * Segmentation Strategies * Target Marketing Section 3 – Product & Price * The Product * Product Levels: Core, Actual, & Augmented (Packaging) ...
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