This course in Business Marketing would help students understand the distinguishing characteristics of B2B markets. It will also make the students get to know about various marketing concepts related to business markets. It includes environment scanning, buying behavior, STP, product policies and product life cycle, pricing strategies, business channels, and communication mix in business markets.
The course has been designed to explain how serving of needs in B2B is different from that of B2C. The aim of the course is to understand B2B perspective and marketing concepts for it. The objectives will be fulfilled through lectures and case discussions.
Class Participation 10 %
Quiz 10 %
Mid Term Examination 25 %
Case Study Discussions 15 %
End Term Examination 40 %
Topic: Introduction to Business Marketing
Objectives: Concept of business marketing, business vs. consumer marketing, types of customers, classifying goods for business markets, creating the value proposition
Discussion: MB Ltd: Nature of demand for special purpose machines.
Reading: The environment of Business Marketing (Chapter 1), Book 1
Topic: Understanding of Environment for Business Markets and Organisational Buying Behavior
Contents: Individual, group, organisational and environmental influences on buying decisions, customers’ total cost of ownership, major stages of organisational buying process
Discussion: H.K Electroplating: environmental issues, Star Material Handling Ltd.
Reading: Organisational Buying Behavior (Chapter 2), Book 1
Topic: Buyer-Seller Relationships
Contents: Relationship marketing, types of relationships, managing buyer-seller relationships, customer relationship management strategy, drivers of relationship marketing effectiveness
Discussion: India Textile Ltd.
Reading: Customer Relationship Management (Chapter 3), Book 1
Topic: Segmenting and Targeting in Business Markets
Contents: Segmentation requirements and benefits for business marketing, bases for segmenting the markets, procedures for selecting target markets.
Discussion: Govind Doors Pvt. Ltd.
Reading: Segmenting the Business Markets (Chapter 4), Book 1
Topic: Positioning and Product Strategy
Contents: Product positioning process, building a strong B2B brand, product policies.
Discussion: Vastu Cement Blocks Pvt. Ltd.
Reading: Managing Products for Business Markets (Chapter 7), Book 1
Topic: Product Life Cycle and Business Services
Contents: Industrial product life cycle and strategies, characteristics of business services, conceptualizing service product, dimensions of service quality, delivering effective customer solutions.
Discussions: K.S Consultancy Services Ltd.
Reading: Managing Services for Business Markets (Chapter 7), Book 1
Topic: Marketing Channels in Business Markets
Contents: Distinctive nature of business marketing channels, types of B2B channels, intermediaries in business marketing channels, decisions for channel designing and channel administration
Discussion: Cable Systems Pvt. Ltd
Reading: Managing Business Marketing Channels (Chapter 10), Book 1
Topic: Pricing in Business Marketing
Contents: Meaning of price, price objectives, factors influencing pricing decisions, types of pricing approaches, responding to price changes of competitors.
Discussion: S.L Business Systems (India) Ltd.
Reading: Pricing Strategies for Business Markets (Chapter 12), Book 1
Topic: Communication Program in Business Markets
Contents: Developing business communication program, role of advertising in business marketing, decisions for developing advertising program, role of trade shows in business communication mix.
Discussion: Nepal Boards Ltd.
Reading: Business Marketing Communication: Advertising and Sales Promotion (Chapter13), Book 1
Topic: Managing Personal Selling in Business Marketing
Contents: Role of personal selling, selling process, organising, the personal selling effort, traditional selling vs. key account selling, managing sales people.
Discussion: Galaxy Solutions Inc.
Reading: Business Marketing Communications: Managing the Personal Selling Function (Chapter 14), Book1
Topic: Performance Evaluation
Contents: Converting strategy goal into concrete performance measures, levels of marketing controls, value of ‘dashboards’ for evaluating marketing strategy performance
Discussion: Autotech Pvt. Ltd.
Reading: Marketing Performance Measurement (Chapter15), Book 1
Session 12 and 13
Case Studies for discussion: Kirloskar Oil Engines Ltd. Tata Teleservices IBM Challenge Federated Insurance Castrol India
Session 14 and 15 Quiz, Project presentation and discussion
Teaching Pedagogy: Explanation of concepts with real life corporate examples Practical assignments Case studies Quiz