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AN EXPLORATORY LITERATURE REVIEW TO IDENTIFY THE ELEMENTS OF B2B BRANDING SPECIAL STUDIES_ANCHIT WALIA Anchit Walia 13125007
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AN EXPLORATORY

LITERATURE REVIEW TO

IDENTIFY THE ELEMENTS

OF B2B BRANDING

S P E C I A L S T U D I E S _ A N C H I T W A L I A

Anchit Walia –

13125007Om shri Krishna sharnaye Gachhami

PROJECT TIME LINE

S P E C I A L S T U D I E S _ A N C H I T W A L I A

Brand relevance

Secondary Literature review

Questionnaire

Statistical Analysis

Defining the term

Next

Semester

Till Date

FIRST LOOK AT B2B MARKETS

S P E C I A L S T U D I E S _ A N C H I T W A L I A

Hard Facts

Costing

Delivery

Product Specifications

Support Services

Product Performance

Reject the relevance of Brands & Branding

Involves rationality of Buying Centre

Source :Understanding the Role of Brands in Business and Consumer MarketsManaging industrial brand equity Developing tangible benefits for intangible benefits

3

B2B BRAND : GLOBAL STUDY

1/14/2015S P E C I A L S T U D I E S _ A N C H I T W A L I A

27

73

Top 100 Global Brands

B2B

B2C

43

4241.5

42

42.5

43

43.5

WoMI

B2B

GlobalBrands

61

39

Revenue

B2B

B2C

BRANDING IN B2B

S P E C I A L S T U D I E S _ A N C H I T W A L I A

Branding sits at the core industry’s philosophy.

Technical personnel are prone to brand specification in their preferences.

(Industrial Buyer Behavior, HBS, 1989)

Price is found to have weakest potential for differentiation (Ulaga &

Eggert 2006a)

Existence of customer perception of superior value in Industrial Markets

(Judith, Mylles & Hill 2010)

Mudambi 2002, in his survey of industrial buyers, found that 37% of these

were Brand receptive

5

MARKET DATA FINDINGS

S P E C I A L S T U D I E S _ A N C H I T W A L I A

Industrial buyers are not price conscious

Industrial buyers are rational

Industrial distributors are willing to sell a product by a well known company

Companies with high reputation, market share charge premium price

Some intangible factors like country of origin as well as the brand name play an

important factor in industrial purchase

Large companies having larger budgets go for the branded products

S P E C I A L S T U D I E S _ A N C H I T W A L I A

FEW TOP VALUABLE B2B BRANDS: BRANDZ 2014

S P E C I A L S T U D I E S _ A N C H I T

W A L I A8

Source :Millward & Brown: The BrandZ™ Top 100 Most Valuable Global Brands 2014

LITERATURE REVIEW & FINDINGS

Factor Literature Review Description

Product Performance Personn 2010; Beverland,

lindgreen, ferrelley 2007;

Zaichkowsky , Parlee, Hill

2010; Herbst & Merz 2011;

Mudambi 1997; Sweeney

2002; Bendixen 2004

Proven performance; ease to

install & upgrade; total

solution; customization

Distribution Zaichkowsky, Parlee, Hill

2010; Mudambi 1997; Low &

bloiss 2002; Sheena 2011;

Zablah 2010; Bendixen 2004;

Personn 2010; Bukasa,

Abratt 2003; Keller 1998

Delivery speed; lead time;

reliability; availability; ease of

ordering & payment;

minimize costly disruptions

S P E C I A L S T U D I E S _ A N C H I T W A L I A

S P E C I A L S T U D I E S _ A N C H I T W A L I A

Services Baxter & matear 2004; Mudambi

2002; Cretu & Brodie; Zablah

2010; Bendixen 2004;

Zaichkowsky, Parlee, Hill 2010; Kim

& Hyun 2010; Herbst & Merz 2011;

Chen, Su, Lin 2011; Personn 2010

Technical support; design;

training; financial services;

development support;

information services; after

sales services

Company Image Zaichkowsky, Parlee, Hill 2010;

Mudambi 1997; Gross 1994;

Sheena 2011; Bendixen 2004; Kim

& Hyun 2010; Beverland 2010;

Backhaus 2011; Zeithaml 1988;

Levit 1995; Personn 2010

Stability; success;

credibility; social

responsibility; history; size;

leadership; experience;

country of origin; staff

employed

Product Quality Mudambi 1997; Zaichkowsky,

Parlee, Hill 2010; Sheena 2011;

Bendixen 2004; Christodoulides

2010; Herbst & Merz 2011; Chen,

Su, Lin 2011; Personn 2010

Value; features; innovation;

competence;

Relationship Zaichkowsky, Parlee, Hill 2010;

Sheena 2011; Lindgreen,

beverland, Farrelley 2011;

Noordhoff; Bendixen 2003;

Persson 2010; Walter et al 2003;

Ulaga & Eggert 2005; Kuhn,

Alpha & Pope 2008

Sales team rapport;

interpersonal relations;

information sharing;

cooperation; partnership;

long term effect; Sales

force relationship

Credibility Herbst & Merz 2011; Zeithaml

1988; Shaw et al 1989

History; experience;

Word of Mouth;

reputation; expertise;

product image

Risk Reduction Mudambi 2002; Sheena Leek

2011; Kotler 2006; Backhaus,

Steiner, Lugger 2011; Zablah,

Brown 2011

Customer Satisfaction Ulaga & Eggert 2006a; Low &

Blois 2002; Sheena Leek 2011;

Herbst & Merz 2011;

Technology; drive;

integrity; perceived

benefits

S P E C I A L S T U D I E S _ A N C H I T W A L I A

S P E C I A L S T U D I E S _ A N C H I T W A L I A

Competence Baxter & Mataer 2004;

Michell, King & Reast 2011;

Backhaus, Steiner, Luggger

2011; Chen, Su, Lin 2011

Product quality; performance;

innovation; time

Commitment & Trust Burmann, Schoffer &

Maloney 2008; Mudambi

1997; Sheena 2011; Herbst

& Merz 2011; Noordhoff;

Backhaus, Steiner, Lugger

2011

Reliability; embedded ties;

stability; product image; It is

inbuilt with Product,

distribution & services

Country of Origin Agarwal & Teas 2010;

Bendixen 2003; Chen, Su,

Lin 2003; Mudambi 1997

Knowledge; staff employed;

culture; country reputation;

stability

Awareness Dawar & Parker 1994;

Backhaus, Steiner, Lugger

2011; Zeithaml 1988; Keller

1998; Aaker 1996

S P E C I A L S T U D I E S _ A N C H I T W A L I A

A brand for a B2B firm is an intangible asset that supports the rational

behind a purchase decision in B2B market.

B2B Brand

Product

Category Parity

Differential

Potential

Customer

Perceived

Value

Price Premium

Brand Loyalty

Positive Word

of Mouth

Network

Cooperation

Effects of Branding: A Model Proposed by Dr. S.S.Mishra

SCOPE & FURTHER RESEARCH

S P E C I A L S T U D I E S _ A N C H I T W A L I A

To identify the most significant factors in the B2B

marketing which act as “decision influencers” in the

Industrial Buying Cycle

Test the significance of these factors and use the

most significant of them to define the term “B2B

Branding”

S P E C I A L S T U D I E S _ A N C H I T W A L I A

FeedbackThank You

DECISION INFLUENCERS

S P E C I A L S T U D I E S _ A N C H I T

W A L I A 16

Buying Center

Buying Situation•Straight Rebuy•Modified Rebuy•New Task Soft Facts

•Security/Risk Reduction•Relationships•Trust•Time Pressure•Image Benefits

Hard Facts•Price•Features/Functionality•Quality•Delivery•Service

Environmental Organizational Interpersonal Individual•Level of demand•Interest Rate•Competition•Political developments•Technological developments

•Objectives•Policies•Procedures•Systems•Organizational Structures

•Interests•Authority•Status•Empathy•Persuasiveness

•Job position•Age•Income•Personality•Culture•Attitude towards risk

Brand

Loyalty

Corporate

imageAwareness

Trust

Product

Quality

Relationship

Personn 2010;

Mudambi 2002;

Sheena 2010;

Noordhoff;

Zaichkowsky et

al 2010;

Mudambi 1997;

Personn 2010;

Zaichkowsky et

al 2010;

Humphreys &

Williams 1996

Maloney 2008;

Ulaga 2006;

Herbst & Merz

2011;

Noordhoff;

Backhaus 2011

Dawar & Parker 1994; Backhaus

2011; Zeithaml 1988;Keller 1998;

Aaker 1996; Mudambi 1997

Zaichkowsky et al

2011; Chen, Su,

Lin 2011;

Mudambi 197; Kim

& Hyun 2010;

Levitt 1995;

Balmer 1995

Price

Premium

Product

SolutionDistribution

Services

Familiarity

Relationship

Company

Persson 2010;

Hutton 1997;

Bendixen 2004;

Persson 2010;

Mudambi 1997;

Aaker 1996;

Persson 2010;

Mudambi 2002;

Cretu & Brodie 2007;

Persson 2010;

Aaker 1996;

Hutton 1997;

Persson 2010;

Mudambi 1997;

Beverland et al

2004;

Kuhn, Alpha &

Pope 2008

Persson 2010;

Beverland et al

2004;

Mudambi 2002;

Zablah et al 2010

KEY ELEMENTS

S P E C I A L S T U D I E S _ A N C H I T W A L I A

1. Corporate brand

2. Credibility

3. Staff Employed

4. Sales force relationship &

Knowledge

5. Corporate relationship

6. Competence

7. Attitude

8. Satisfaction

9. Trust

10.Commitment

11.Quality

12.Reliability

13.Reputation

14.Expertise

15.Sales team rapport

16.Product image

17.Corporate financial stability

18.Country of Origin

19.Risk

20.Product Performance


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