Business Marketing 4MD3

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Business Marketing 4MD3

• intro to Instructor
• Course overview / structure
• The marks
• The project
• www.business.mcmaster.ca/courses/com4MD3

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• Steve Howse, Sectional Lecturer
•  B of Commerce 1988
• Sales Management Executive - Consultant
• Sales, product marketing, marcom, customer
  service
• Office hours Wednesday 1230 to 200
• Who are you?

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Course Overview

• Lecture, case study, video, guest speakers
• 1 Hand-in case
• Large team project
• Mid term exam
• Participation
• This coarse will utilize your previous learning's
•  

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Components and Weights

• Individual Work
• Class Participation 15
• Term Exam 25
• Small Group Work
• Hand-in case 15
• Large Group Work
• Written report 35
• Project Presentation 10

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The Project

• Work with a real company 
• Examine current marketing mix
• Internal / External SWOT
• Make a recommendation
• You are consultants

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• Pick a team
• Choose a company
• Prepare a project proposal
• Team, company, reason, products, focus, Gant
  Chart  
• Preliminary / Secondary research
• Write your report
• Executive Summary
• Introduction
• Current Marketing Strategy Mix
• (cont)

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• Internal analysis
• Macroenviromental Analysis
• Competitive Analysis
• Customer Analysis
• Recommended Marketing objectives
• Recommended Marketing strategy and mix
• Implementation plan and budget
• References
• Appendices

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Mark Breakdown

• 30 research
• 30 analysis
• 30 objectives, recommendations, implementation
  plan
• 10 format
• Self and peer evaluation

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Presentation to the class and client

• Introduction
• Marketing Audit
• Analysis of current situation
• Your marketing objectives / recommendation
• QA

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The Nature of Business Marketing
4MD3
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Preview Nature Of Business Marketing

• BM transaction definition
• other names for BM
• who buys from business marketers?
• what do they buy?
• why do they buy?
• the BM process 
• differences between business marketers and
  consumer marketers   

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Business Marketing Transactions

• Any transaction involving the purchase by an
  organization of a product or service ultimately
  used by an organization (i.e. business to
  business)
• All transactions in an organizational-product
  channel are included
• Certain early transactions in a consumer-product
  channel

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Two terms NOT used in Business Marketing

• Consumers
• Retailers

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Other Names For Business Marketing

• Business-to-Business Marketing (B2B)
• Industrial Marketing
• Organizational Marketing

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WHAT KINDS OF ORGANIZATIONS BUY?

• commercial enterprises
• users  
• OEMs
• industrial distributors  
• government agencies  
• institutions  

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WHAT THE ORGANIZATIONS BUY

• the business marketers total offering
• the product itself
• product-support services
• delivery arrangements
• adaptation of products, processes, plant, and
  people to customer needs
• an infinite number of offerings is possible

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PRODUCT CATEGORIES BOUGHT BY THE ORGANIZATIONS

• entering goods
• raw materials  
• manufactured materials
• component parts
• foundation goods
• accessory equipment
• capital equipment  
• facilitating products 
• MRO goods
• services  

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Why Organizations Buy Our Products

• To satisfy their organizational personal needs
• Organizational needs are mainly rational and
  related to producing their own product
• increase their products quality
• reduce their products cost
• differentiate their product
• Personal needs are mainly irrational or
  subjective

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Business Marketing Process

• Segmentation  
• Targeting   
• Positioning   
• Programming ( the 4Ps) 

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BM/CM Differences - Marketers

• Must interact more with other departments
  (multiple buying influences or stakeholders) 
• Must have enough technical capability to
  understand
• Their own products
• Non-marketing functions in their own organization
• Customer processes (contd)   

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BM/CM Differences Marketers (Continued)

•  
• Less able to switch to a different industry  
• Less tempted to communicate unethically  
• Require more legal knowledge  
• Require better negotiating skills
• Face greater international competition

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BM/CM Differences - General

• Well cover BM/CM differences in many areas
• Why?
• So you can identify the differences between
  typical BM and CM situations

Remember - There will always be exceptions!
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Interesting Web Resources

• http//www.sedar.com/
• http//www.fool.com/
• http//www.ceoexpress.com/
• http//www.bloomberg.com/
• http//www.globeinvestor.com/
• http//www.hoovers.com/free/
• http//www.strategis.ic.gc.ca/
• http//www.refresher.com/ceo.html