Chapter 5 - Business-to-Business Marketing Lecture 3b...

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Unformatted text preview: Business-to-Business Marketing Lecture 3b Researching B2B markets What are the buying criteria and buying processes of customers and potential customers? How important are inter-firm relationships ? How do customers and potential customers define value ? What are the strategic plans , positioning strategies and target customers with whom they seek to develop partnering relationships ? Lecture 3b: Researching B2B markets So far Answers can be given only by marketing research (e.g. market segmentation) Information is the outcome of marketing research Evidence suggests that top-performing industrial corporations are more likely to gather information (e.g. in- house market intelligence) Hooley and Jobber, 1986; Baker and Hart, 1989 These industrial firms also showed: Proactive planning Emphasis on product differentiation Commitment to market orientation Lecture 3b: Researching B2B markets B2B marketing information The value of marketing information can be judged in terms of: Accuracy : reliability and validity (technical issue related to questionnaire and statistics) Timeliness, relevance and uniqueness : the right info at the right time (issue related to the overall management of the info collecting process, e.g. relationship with the market research agencies) Lecture 3b: Researching B2B markets Although many aspects of market research are the same in B2B and B2C (e.g. the sample and the questionnaire) there are several practical differences that arise from the basic characteristics of business markets: Derived demand : business companies forced to follow all development downstream the SC Accelerator effect : small changes downstream create large needs upstream and make forecast impossible Concentration ratio : when high, flow of information from the few big gets even difficult Business firms thus use secondary information sources to monitor trends downstream (end-users), since primary surveys will be too costly in money and time Lecture 3b: Researching B2B markets Sampling Basics are the same in both consumer and business marketing research But in B2B the population is usually much smaller (e.g. total of industrial firms active in a sector of the economy), and the importance of specific members of the sample much higher than others (e.g. top-5 firms in a highly concentrated market) Lecture 3b: Researching B2B markets B2B research essentials...
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This note was uploaded on 05/12/2011 for the course MARKETING 222 taught by Professor Antonios during the Spring '11 term at Aarhus Universitet.

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Chapter 5 - Business-to-Business Marketing Lecture 3b...

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