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BUYER- SELLER
REALATIONSHIP IN B2BMARKETING
Preasented To: Prof. Dr. Vipul Patel
Presented By :Chirag Patel
Sham Magar
Jigar Patel
Jinal Patel
Harshil Shah
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Building Buyer-Seller Relationships
Many customers are seeking ways to simplifytheir lives, and Buyer seller relationships
provide a way to do this
Customers find comfort with brands that have
become familiar through their ongoing
relationships with companies
Such relationships often lead to more efficientdecision-making by customers and higherlevels of customer satisfaction
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THE SHIFT FROM TRANSACTION-BASED
MARKETING TO RELATIONSHIP MARKETING
Transaction-based marketing Buyer and seller exchangescharacterized by limited communications and little or no
ongoing relationship between the parties.
Relationship marketing Development, growth, and
maintenance of long-term, cost-effective relationships withindividual customers, suppliers, employees, and other partners
for mutual benefit.
Views customers as equal partners in transactions.
Encourages long-term relationships, repeat purchases,and multiple brand purchases from the firm.
Collaborative exchange between buyer and seller.
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ELEMENTS OF RELATIONSHIP MARKETING
Firms build long-term relationships by gathering information
about their customers, analyzing and using the data to modifythe marketing mix, monitoring interactions with customers,
and using knowledge of customers and their preferences to
orient every part of the organization.
INTERNAL MARKETING
Internal customersemployees or departments within the
organization whose success depends on the work of other
employees or departments.
Internal marketingmanagerial actions that enable all
organizational members to understand, accept, and fulfill their
respective roles in implementing a marketing strategy.
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THE RELATIONSHIP MARKETING CONTINUUM
Firms try to move buyer-seller relationship from thelowest to the highest level of the continuum of
relationship marketing to strengthen the mutual
commitment between them.
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FIRST LEVEL: FOCUS ON PRICE
Most superficial level, least likely to lead to long-termrelationship.
Marketers rely on pricing to motivate customers.
Competitors can easily duplicate pricing benefits.
SECOND LEVEL: SOCIAL INTERACTIONS
Customer service and communication are key factors.
Example: Wine shop holding a wine-tasting reception.
THIRD LEVEL: INTERDEPENDENT PARTNERSHIP
Relationship transformed into structural changes that ensure
partnership and interdependence between buyer and seller.
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Marketers use three major steps to measure and improve how
well they meet customer needs.
UNDERSTANDING CUSTOMER NEEDS
Firms must understand what customers need, want, and
expect.
Must measure customer satisfaction.
OBTAINING CUSTOMER FEEDBACK AND
ENHANCING CUSTOMER SATISFACTION
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ENSURING CUSTOMER SATISAFACTION
Sources of information include toll free numbers,
onlinefeedback, and evaluators posing as customers.
Complaints help firms overcome problems and
demonstrate commitment to service.
Firms may conduct surveys or monitor blogs to
analyze satisfaction.
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Consumers form relationships to reduce choices andsimplify the buying process.
Customers may switch loyalties if they perceive
better benefits from a competitor.
HOW MARKETERS KEEP CUSTOMERS
Retaining customers is far more profitable than
losing them. According to one study, marketers have
BUILDING BUYER-SELLER RELATIONSHIPS
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Firms generate more profits with each
additional year of a relationship.
Frequency marketing Frequent-buyer oruser marketing programs that reward
customers with cash, rebates, merchandise, orother premiums.
Affinity marketing Marketing effort
sponsored by an organization that solicitsresponses from individuals who share commoninterests and activities.
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DATABASE MARKETING
Database marketing Use of software to analyze
marketing information, identifying and targetingmessages toward specific groups of potentialcustomers.
Help firms identify their most profitable customers
and improve customer retention and referral rates whilereducing marketing and promotion costs.
Data comes from multiple sources, including creditapplications, registrations, point-of-sale scans and othersources.
New technologies are providing more data.
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CUSTOMERS AS ADVOCATES
Grassroots marketingconnecting directly withexisting and potential customers throughnonmainstream channels.
Viral marketingsatisfied customers get the
word about products out to other consumers. Buzz marketingrelies on volunteers to try
products and then talk abut their experiences withfriends and colleagues.
Internet technology gives this word-of-mouthapproach far moreapplications than in the past.
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Customer relationship management (CRM)Combination of strategies and tools that drivesrelationship programs, reorienting the entireorganization to a concentrated focus on satisfyingcustomers.
BENEFITS OF CRM
Software systems can make sense of huge
amounts of data.
Simplify complex business processes whilekeeping customers interests at heart.
CUSTOMER RELATIONSHIP MANAGEMENT
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PROBLEMS WITH CRM
Requires companywide commitment and knowledgeof how to use system.
Failures often result from failure to effectivelyreorganize firms people and processes to take
advantage of benefits CRM system offers. RETRIEVING LOST CUSTOMERS
Customers leave for a variety of reasons.
Customer winbackprocess of rejuvenating lostrelationships with customers.
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Business-to-business marketinginvolvesorganizations purchase of goods and services tosupport company operations or production ofother products.
Advantages of buyer-seller relationship caninclude lower prices, quicker delivery, improvedquality and reliability, and others.
Partnership Affiliation of two or morecompanies that help each other achieve commongoals.
BUYER-SELLER RELATIONSHIPS IN
BUSINESS-TO-BUSINESS MARKETS
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TYPES OF PARTNERSHIPS
Buyer partnerships, seller partnerships, internal
partnerships, and lateral partnerships. COBRANDING AND COMARKETING
Cobranding Cooperative arrangement in which twoor more businesses team up to closely link their nameson a single product.
Comarketing Cooperative arrangement in which twobusinesses jointly market each others products.
CHOOSING BUSINESS PARTNERS
Partner firms must add value to the relationship, complement
each other, and share similar values and goals.
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NATIONAL ACCOUNT SELLING
Technique of providing special attention to a firms largest, most
profitable customers by assembling a team to serve just one or more large
accounts.
BUSINESS-TO-BUSINESS DATABASES
Just as indispensable as in consumer marketing.
ELECTRONIC DATA EXCHANGES AND WEB SERVICES
E
lectronic data interchanges (EDI
) Computer-to-computer exchangesof invoices, orders, and other business documents.
Web servicesallow companies to communicate even if theyre not
running the same or compatible software, hardware, databases, or network
platforms.
IMPROVING BUYER-SELLER RELATIONSHIPS
IN BUSINESS-TO-BUSINESS MARKETS
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VENDOR-MANAGED INVENTORY
Vendor-managed inventory (VMI) Inventory managementsystem in which the sellerbased on an existing agreement with a
buyerdetermines how much of a product is needed.
MANAGING THE SUPPLY CHAIN
Supply chain Sequence of suppliers that contribute to the creationand delivery of a good or service.
May offers increased innovation, decreased costs, improvedconflict resolution within the chain and improved communicationand involvement among members of the chain.
BUSINESS-TO-BUSINESS ALLIANCES
Strategic alliancespartnership formed to create a competitive
advantage. May be less formal, such as jointly establishing a new-product
design team.
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Lifetime value ofa customer Revenues and intangiblebenefits such as referrals and customer feedback that acustomer brings to the seller over an average lifetime, lessthe amount the company must spend to acquire, market to,
and service the customer. Company may analyze lifetime value or payback from a
customer relationship.
May influence the types of customers a firm tries to reach.
Companies of all sizes can implement technology thathelps measure and improve customer value.
EVALUATING CUSTOMER
RELATIONSHIP PROGRAMS
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