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LESSON ONE NOTES - Assoc Prof Lau Geok Theng BIZ1 Mochtar...

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Unformatted text preview: Assoc Prof Lau Geok Theng BIZ1 Mochtar Riady Building 08-10 Tel: 6516-3179; 985-303-85 (sms only) E-mail: [email protected] Understand basic concepts, tools and Understand frameworks in business marketing. frameworks Appreciate basic challenges in business Appreciate marketing management. marketing Carry out marketing analyses and make Carry marketing decisions in business marketing contexts. Discussion/ Mutual Learning/ Self Learning Learning Practical/ Application-Oriented Individual Attendance & Class Individual Participation – 20% Participation Individual End of Term Test – 20% Individual Case Assignment – 20% Group Case Presentation – 15% Group Project – 25% Group Complete readings and assignments before Complete coming to class. coming Put in fair share of work in group assignments. assignments. Be attentive in class and follow class Be proceedings. Show enthusiasm and interests. No operation of notebook in class. Lau Geok Theng, Business Marketing: An Asian Perspective, McGraw Hill, 2007. Asian Michael D. Hutt and Thomas W. Speh, Business Michael Marketing Management, Ninth Edition, Marketing Ninth Harcourt, 2007. Harcourt, Industrial Marketing Management Industrial Journal of Business to Business Marketing Journal of Business and Industrial Marketing Journal of Supply Chain Management Singapore Institute of Purchasing and Materials Singapore Management Management – www.sipmm.org.sg Institute for Supply Management (National Institute Association of Purchasing Management) Association – www.napm.org Chartered Institute of Purchasing and Supply – www.cips.org Read and Digest Read Identify Key Issue(s) Identify Identify Decision Maker & Step Into Shoes Identify Organize, Synthesize & Integrate Information Organize, Areas of Analysis: Areas ‐ Macro-environment ‐ Market & industry – vertical and Market horizontal horizontal ‐ Players & competitors Players ‐ Customers and segments ‐ Company resources, capabilities, Company strategies and performance strategies Conclusions & Implications Conclusions From Analysis to Decision From Reasonable Objectives Reasonable Clear Alternatives: Pros & Cons Clear Decision Criteria Decision No Single Correct Answer No Clear Strategies and Decisions Clear Rationale Rationale Specific Details & Implementation Plans Timeline ‐ Financial ‐ Contingency Plans Show Interests and Enthusiasm. Avoid Distraction. Distraction. Cannot Say “I Don’t Know” or “No Comments” Comments” Criticize Ideas and Logic, Not People DEFINITION DEFINITION Process of understanding, creating, Process communicating and delivering value offerings to targeted business organizations for use in their operation, for the production of other goods and services or for resale. Size and Volume Size Impact on Consumer Products Impact – Costs Costs – Availability Availability – Functionality Functionality Quality of Life Quality Number of Customers Number Size of Customers Size Buying Expertise Buying Decision Process Decision Geographical Concentration Geographical Nature of Demand Nature ‐ Forecasting ‐ Marketing Buyer-Seller Relationships Buyer-Seller ‐ Cost ‐ Quality ‐ Design Practice of Basic Marketing Practice Commercial Enterprises Commercial Government and Public Organizations Government Institutional Organizations Institutional Foundation Goods and Services Foundation – Buildings and Installations Buildings – Equipment Equipment Facilitating Goods and Services Facilitating – MROs MROs – Services Services Entering Goods and Services Entering – Raw Materials Raw – Manufactured Materials and Parts Manufactured Purchasing Purchasing Procurement Procurement Supply Supply Supply Management Supply Materials Management Materials Logistics Management Logistics Supply Chain Management Supply Transactions to Process Tactical to Strategic Adversarial to Cooperative Relationships Unit to Organizational to Extra- Organizational Globalization of Business. Trade Globalization Liberalization. Liberalization. Pace of Technological Advancement. Pace Merging of Technological Areas. Merging Supplier Rationalization. Strategic Supplier Partnership. Outsourcing. Partnership. Growth of IT, Internet and E-Commerce. Value as the Cornerstone – Business Customers Buy Benefits Focus on Marketing Management Process – Marketing Concept and Customer Marketing Orientation Orientation – Planning Orientation – Cross-Functional Integration Chapters 1 & 2, Main Text Leonidas C. Leonidou, “Industrial Buyers’ Influence Strategies: Buying Situation Differences,” Journal of Business and Industrial Marketing, 20, 1, 2005, 33-42 . ...
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