MBA655 Business to Business Marketing Course Introduction/Overview

Agenda Instructor & Students Introduction Course Requirements Group Formation & Case Assignment Article Assignment Marketing Knowledge Review Chapter 1: What is B2B

Course Objectives Briefly what is B2B? - Marketing activities that are directed toward businesses, governments, institutions and not-for-profit organizations By the end of this semester you should be able to Describe the nature of business markets and related concepts and theories Recognize the differences between B2C and B2B Familiarize the organizational buying behavior Analyze business situations in the context of buyer-seller relationships, customer relationship management and supply chain management Apply concepts and theories to business marketing situations and take appropriate decisions using a strategic marketing perspective

Teaching Method/Class Activities Lectures (Nov 21, 22; Dec 5; Dec 12) In-class Assignments Journal Articles Case Studies Live Projects

Course Format & Evaluation At An Individual Level (40%) Article Presentation 20% Final Exam 20% At A Group Level (60%) In-class Assignment 10% Case Study & Presentation 20% Group Project & Presentation 30% Overall Course Grade 100%

Article Presentation Each student will make a presentation on an assigned article (Nov 29 & Dec 6: 13:30-18:00) Provide useful insights into the related topic Identify a real business example/case to illustrate the managerial applications of the principles or theories highlighted by the article Raise some challenging questions for class discussion 30 minutes for presentation & 10 minutes for discussion PowerPoint slides submitted after the presentation

Case Study & Presentation Each group will analyze a case and present it in class (Nov 29 & Dec 6: 19:00 – 21:30) 30 minutes for presentation 30 minutes for discussion I will present / hand out my case analysis results as well PowerPoint slides submitted after the presentation

Guide To Case Analysis – Ten Commandments Read the case twice, once for an overview and once to gain full command of the facts; then take care to explore every one of the exhibits. Make a list of the problems and issues that have to be confronted. Do enough number crunching to discover the story told by the data presented in the case. Look for opportunities to apply the concepts and analytical tools in the text chapters.

Guide To Case Analysis – Ten Commandments Be thorough in your diagnosis of the situation, you may make a one- or two-page outline of your assessment. Support any and all opinions with well-reasoned arguments and numerical evidence; don’t stop until you can purge “I think” and “I feel” from your assessment and, instead, are able to rely completely on “My analysis shows.” Develop charts, tables, and graphs to expose more clearly the main points of your analysis.

Guide To Case Analysis – Ten Commandments Prioritize your recommendations and make sure they can be carried out in an acceptable time frame with the available skills and financial resources. Review your recommended action plan to see if it addresses all of the problems and issues you identified. Avoid recommending any course of action that could have disastrous consequences if it doesn’t work out as planned; therefore, be as alert to the downside risks of your recommendations as you are to their upside potential and appeal.

In-class Assigments A few group assignments offered during the class Case studies or answers to questions Report back to the full class and/or hand in written points or answers to questions All assignments completed in class, as parts of the lectures To replace class participation marks – students are required to participate actively in class discussion

Final Examination 10 review questions will be distributed before the final 5 questions will appear in the final You choose 3 out of 5 questions to answer December 1:30-3:30

Group Project Investigate a B2B phenomenon or issue To contact a business firm and make a study on any aspects relevant to B2B marketing To contact two business firms and make a comparative study To select a topic of interest in B2B marketing and make a literature review of the topic with your own criticism The primary objective is to acquire first-hand knowledge of B2B marketing in HK and to acquaint yourselves with the frontier developments in the subject Projects must include: - Presentation (Dec 13: 45 minutes with 15 minutes Q/A) - Final report (Dec 20: 15 pages double-spaced, by email)

Group Project Evaluation Presentations will be peer-evaluated in class in terms of Creativity; Organization; Professionalism in dress and presentation style; Effective use of visual aids; Effective use of time; State of preparation Peer-evaluation accounts for 50% and instructor evaluation accounts for another 50% Refer to Appendix – Guideline for Group Presentations

Course Overview Part one: Business Markets and Business Marketing (Ch 1-4) Chapter 1 Introduction to Business Marketing Chapter 2 The Character of Business Marketing Chapter 3 The purchasing Function Chapter 4 Organizational Buyer Behavior Part two: Foundations for Creating Value (Ch 5-7) Chapter 5 Market Opportunities Chapter 6 Marketing Strategy Chapter 7 Weaving Marketing into the Fabric of the Firm

Course Overview (Cont) Part three: Business Marketing Programming (Ch 8-14) Chapter 8 Developing and Managing Products Chapter 14 Pricing & Negotiations Chapter 9 Business Marketing Channels Chapter 10 Communicating with Customers (IMC) Chapter 11 Advertising, Trade Shows and PR Chapter 12 The One-to-One Media Chapter 13 Sales and Sales Management Part four: Review, Recap and Makeup (Ch 15-16, skip) Chapter 15 Evaluating Marketing Efforts Chapter 16 Customer Retention and Maximization

Group Formation Three persons in a team Case assignment Article assignment

MBA655 – In-class Assignment What do you know about Marketing? Refresh your knowledge about marketing, as complete as possible … Please prepare a 2-minute presentation to review what you have known about marketing

Marketing Knowledge Review The goal of marketing: To build and manage profitable customer relationships On one hand, marketing seeks to attract new customers by promising superior value; On the other hand, marketing seeks to keep and grow current customers by delivering satisfaction

Marketing Knowledge Review The definition of marketing: A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others The marketing function: Production Distribution Ethical and social responsibility functions

Understand the marketplace and customers’ needs/wants Create customer driven marketing strategy Construct a marketing program that delivers superior value Build profitable relationships & create customer delight Capture value from customers to create profits & customer quality

Elements of a Modern Marketing System

Pulling it All Together

The Marketing Environment The microenvironment consists of the actors close to the company that affect its ability to serve its customers, the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.

The Marketing Environment The macroenvironment consists of the larger societal forces that affect the microenvironment. Demographic Economic Natural Technological Political Cultural

The marketing information system

Model of Consumer Behavior

Factors influencing Consumer Behavior

Model of Business Buyer Behavior

Major Influences on Business Buyer Behavior

Four Types of Buying Decision Behavior Complex buying behavior Dissonance-reducing buying behavior Habitual buying behavior Variety-seeking buying behavior

The Buyer Decision Process Five stages in the buyer decision process Need recognition Information search Evaluation of alternatives Purchase decision Post-purchase behavior

Marketing Strategy Market Segmentation Marketing Targeting Differentiation Positioning for Competitive Advantage 33