Diversification as a Viable Corporate Strategy
Introduction Diversification is one of the strategies pursued by firms wishing to grow in newer markets and by launching newer products. Diversification usually entails the firms entering new markets in the industry in which they are already present by launching newer products. Note the emphasis on new markets and new products as diversification is not […]
Knowledge Creation and Management
Introduction The concept of knowledge as the founding block for attaining competitive advantage has become quite prevalent in Management studies. All knowledge should begin form a piece of information. For the conversion of information into knowledge there is a critical aspect to be noted. This is related to the timing of the retrieval of information. […]
Product Management in the Indian IT Sector
The previous articles in this module discussed how product management differs from brand management and the way in which product management is carried out in IT companies. This article looks at the specific case of product management in Indian IT companies by referring to some well-known companies and their practices. The Indian IT sector is […]
Role of Planning, Plans and Planners in Mintzbergs Five Configurations
Role of Planning, Planners, and Plans The previous article discussed the five configurations of organizational structure that Mintzberg proposed as part of his theory. This article examines the role of planning, plans, and planners in each of the configuration. To start with planning is an important element of strategy whenever there is excessive standardization and […]
How to Maintain Competitive Edge in Service Industry
In the present times, doing business has become an extremely competitive game. This is true not only for the product industry but to the service industries as well. In case of service industry, the competition to be at the top and be the market leader is tougher simply because of the fact that service is […]
Organization A sells office files, notepads, and all sorts of office stationery to organization B, C and D.
Organization A does not deal with Peter — an end-user who would like to buy two pencils for his son Tom.
Business to business marketing refers to the transaction of goods and services between businesses.
Marketing mix helps to determine the unique selling points (USPs) of a brand.
Marketing mix goes a long way in determining how an organization’s products and services are different from the competitors.
Marketing mix is synonymous with four Ps
Business marketing is not everyone’s cup of tea. One needs to understand that there is absolutely no room for emotions in business buying. Keep yourself in the client’s shoes. He has all the rights of being choosy and selective; after all he would be investing in your organization.
Offer something of value to your client.
If you want to purchase a laptop for one of your family members, would you simply go and pick up any brand available in the market? The answer is NO. Infact nobody does that. Similarly business buyers also invest in something which would yield higher profits.
The products must have right features and should stand out. Never under estimate your client. Your client will definitely find out what your competitors are offering.
Your product must look good and function as per the requirements of the buyer.
Organization Z sells bulk SMS service to Organization X (An educational institute) which further uses the service to send text messages to existing students and also to potential admissions.
Organization X has a database of around 50,000 students (including existing and new students) where as the bulk SMS service by Organization Z can send text messages to only 10,000 students and not more than that.
Do you think Organization X would invest in Organization Z’S Services? Obviously NO.
Every organization must take into consideration the following two points:
Business buyers generally pay more prices than individual consumers as they purchase in bulk. Business marketers must know how to structure their pricing, provided their brand is strong.
Promotion refers to methods of communication, a business marketer uses to promote his brand among his clients.
Remember your brand must stand apart from the rest. You really need to interact with your clients well. Promoting one’s brand successfully increases the sales and eventually earns profits for the organization.
Brands can be promoted through business meetings, web meetings, e-mails, circulating newsletters, brochures, pamphlets and so on.
Organize trade shows and invite all your potential and existing clients on a common platform. Give a nice demonstration of your products and services. Interact with your clients as much as you can. Don’t let them go with a single doubt in their mind. Do not forget to collect their business cards. You will definitely need their contact details later for follow ups.
It always pays to provide the products and services at the right place which is convenient and easily accessible for the client.
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Business to Business (B2B) Exchanges – Virtual Market on Internet
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Business to Business (B2B) Internet Marketing Strategies
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