Business Marketing Samenvatting Arteveldehogeschool - Lacour Isabelle
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Course
Business Marketing (BUSMAR)
Institution
Arteveldehogeschool (Artevelde)
Samenvatting van alle 10 de hoofdstukken van business marketing.
1. Introduction in the field of B2B Marketing
2. Difference between B2B and B2C Marketing
3. Characteristics of B2B Marketing
4. Strategic value of Procurement
5. Tactical Procurement process
6. Operational purchase ...
Inhoudsopgave
1 INTRODUCTION TO BUSINESS MARKETING ............................................................................................. 4
1.1 WHAT IS BUSINESS-TO-BUSINESS (B2B) ........................................................................................................ 4
1.2 CHARACTERISTICS OF B2B MARKETS ............................................................................................................ 4
1.2.1 The market ...................................................................................................................................... 5
1.2.2 The buying process .......................................................................................................................... 5
1.2.3 The demand ..................................................................................................................................... 5
1.2.4 Distribution channels ....................................................................................................................... 7
1.3 B2B BUYERS ............................................................................................................................................ 8
1.3.1 Commercial businesses (industry & services) .................................................................................. 8
1.3.2 Resellers........................................................................................................................................... 9
1.3.3 Governments ................................................................................................................................... 9
1.3.4 Institutions....................................................................................................................................... 9
1.4 TYPES OF B2B GOODS & SERVICES ............................................................................................................. 10
1.4.1 Components .................................................................................................................................. 10
1.4.2 Capital goods ................................................................................................................................. 10
1.4.3 Supporting goods .......................................................................................................................... 10
1.5 CREATING VALUE IN B2B .......................................................................................................................... 11
1.5.1 Porter’s value chain (Michael Porter) ............................................................................................ 11
2 DECISION MAKING UNIT & DECISION MAKING PROCESS (DMP) ........................................................... 12
2.1 THE DECISION MAKING UNIT .................................................................................................................... 12
2.1.1 The initiators ................................................................................................................................. 12
2.1.2 User ............................................................................................................................................... 13
2.1.3 Influencer....................................................................................................................................... 13
2.1.4 Gatekeeper .................................................................................................................................... 13
2.1.5 Decision Maker .............................................................................................................................. 14
2.1.6 Buyer ............................................................................................................................................. 14
2.1.7 Importance of DMU for B2B marketeer ........................................................................................ 14
2.1.8 Key factors that initiate the buying process .................................................................................. 15
2.1.9 Buying situations ........................................................................................................................... 15
2.2 DECISION MAKING PROCESS (DMP) ........................................................................................................... 16
2.2.1 Awareness ..................................................................................................................................... 16
2.2.2 Investigate ..................................................................................................................................... 16
2.2.3 Evaluate ......................................................................................................................................... 17
2.2.4 Purchase ........................................................................................................................................ 17
2.2.5 Engage........................................................................................................................................... 17
2.2.6 Advocacy ....................................................................................................................................... 17
2.3 IMPORTANCE OF UNDERSTANDING THE DMP & DMU................................................................................... 18
3 ENVIRONMENTAL ANALYSIS ................................................................................................................. 18
3.1 IMPORTANCE OF ENVIRONMENTAL ANALYSIS ................................................................................................ 18
3.2 ENVIRONMENTAL ANALYSIS: 3 LEVELS & 3 TOOLS .......................................................................................... 18
3.3 MACRO ANALYSIS: PESTLE ...................................................................................................................... 19
3.3.1 Political Factors ............................................................................................................................. 19
3.3.2 Economic factors ........................................................................................................................... 19
3.3.3 Social factors ................................................................................................................................. 21
3.3.4 Technological factors .................................................................................................................... 22
3.3.5 Legal Forces ................................................................................................................................... 22
3.3.6 Environmental Factors .................................................................................................................. 23
3.3.7 Ethical Factors ............................................................................................................................... 23
3.3.8 Where to find the data? ................................................................................................................ 24
3.3.9 How to implement the PESTLE data you found? ........................................................................... 24
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3.4 ENVIRONMENTAL ANALYSIS: MICRO LEVEL ................................................................................................... 24
3.4.1 Micro-environment analysis: Porter’s 5 forces .............................................................................. 25
3.5 ENVIRONMENTAL ANALYSIS: ORGANISATIONAL LEVEL ..................................................................................... 28
3.5.1 SWOT analysis – definition ............................................................................................................ 29
3.5.2 SWOT analysis ............................................................................................................................... 29
4 STRATEGIC CHOICES .............................................................................................................................. 31
4.1 B2B MARKETING: LEVEL OF PLANNING ....................................................................................................... 31
4.1.1 Strategic planning ......................................................................................................................... 32
4.1.2 Tactical planning ........................................................................................................................... 32
4.1.3 Operational planning .................................................................................................................... 32
4.2 TOOLS .................................................................................................................................................. 33
4.2.1 1. Value disciplines (Treacy & Wiersema) ..................................................................................... 34
4.2.2 2. Ansoff matrix ............................................................................................................................. 38
4.2.3 3. Boston Consulting Group Portfolio analysis .............................................................................. 41
5 OMNICHANNEL MARKETING IN B2B ..................................................................................................... 46
5.1 INTRODUCTION TO OMNICHANNEL MARKETING ............................................................................................. 46
5.1.1 Omnichannel is the standard, not the exception. .......................................................................... 47
5.2 THE B2B BUYER (CUSTOMER) JOURNEY ...................................................................................................... 48
5.3 BUILDING AN OMNICHANNEL STRATEGY ...................................................................................................... 49
5.4 KEY TAKEAWAYS ..................................................................................................................................... 52
5.5 RECAP OMNICHANNEL ............................................................................................................................. 52
6 DIGITAL TRANSFORMATION .................................................................................................................. 53
6.1 WHAT DIGITAL TRANSFORMATION IS .......................................................................................................... 53
6.2 DIGITAL TRANSFORMATION – TRIGGERS ...................................................................................................... 53
6.3 DIGITAL TRANSFORMATION – 4 AREAS ........................................................................................................ 53
6.3.1 1. Proces transformation ............................................................................................................... 54
6.3.2 2. Business model transformation ................................................................................................. 55
6.3.3 3. Domain transformation ............................................................................................................. 55
6.3.4 4. Culture/ organizational transformation .................................................................................... 55
6.4 WHY DO DIGITAL TRANSFORMATION? ........................................................................................................ 56
6.5 TWO IMPORTANT ELEMENTS IN DIGITAL TRANSFORMATION ............................................................................. 57
6.5.1 Digital maturity ............................................................................................................................. 57
6.5.2 Digital intensity ............................................................................................................................. 58
6.6 CAPABILITIES VS PITFALS ........................................................................................................................... 58
6.7 RECAP DIGITAL TRANSFORMATION ............................................................................................................. 59
7 CONTENT MARKETING .......................................................................................................................... 60
7.1 INTRODUCTION TO CONTENT MARKETING..................................................................................................... 60
7.1.1 The importance of content marketing for B2B increases .............................................................. 60
7.1.2 Zero moment of truth .................................................................................................................... 61
7.1.3 The four C’s of content marketing ................................................................................................. 61
7.2 WHY ENGAGE IN CONTENT MARKETING? ..................................................................................................... 61
7.2.1 Brand awareness ........................................................................................................................... 62
7.2.2 Trust and credibility ....................................................................................................................... 63
7.2.3 Lead generation ............................................................................................................................ 63
7.2.4 Informing ....................................................................................................................................... 64
7.3 HOW SET-UP A CONTENT MARKETING STRATEGY?.......................................................................................... 64
7.3.1 Identify your target audience ........................................................................................................ 65
7.3.2 Set clear goals and objectives ....................................................................................................... 65
7.3.3 Audit your existing B2B content .................................................................................................... 65
7.3.4 Determine distribution channels ................................................................................................... 65
7.3.5 Determine content types for B2B markets .................................................................................... 66
7.3.6 Create a content calendar ............................................................................................................. 66
7.3.7 Monitor content performance ....................................................................................................... 67
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7.4 EFFECTIVE B2B CONTENT FORMATS ............................................................................................................ 68
7.5 BEST PRACTICES ...................................................................................................................................... 70
8 BIG DATA IN B2B ................................................................................................................................... 71
8.1 INTRODUCTION TO BIG DATA .................................................................................................................... 71
8.1.1 The five V’s of big data .................................................................................................................. 71
8.1.2 Key types of data that B2B marketers should consider ................................................................. 71
8.1.3 Data sources for B2B marketers .................................................................................................... 72
8.2 TYPES OF BUSINESS ANALYTICS ................................................................................................................... 73
8.2.1 Descriptive analytics ...................................................................................................................... 74
8.2.2 Predictive analytics ........................................................................................................................ 74
8.2.3 Prescriptive analytics ..................................................................................................................... 75
8.3 HOW DO MARKETERS USE DATA? ............................................................................................................... 75
8.4 CHALLENGES FOR B2B MARKETERS............................................................................................................. 77
8.5 POWER OF DATA ..................................................................................................................................... 78
8.5.1 Technology & human rights .......................................................................................................... 78
8.5.2 GDPR ............................................................................................................................................. 78
9 ACCOUNT-BASED MARKETING (ABM) ................................................................................................... 80
9.1 INTRODUCTION TO ABM .......................................................................................................................... 81
9.1.1 ABM flips the funnel ...................................................................................................................... 81
9.2 INBOUND VS OUTBOUND MARKETING.......................................................................................................... 81
9.3 CASES ................................................................................................................................................... 83
9.4 MAIN CHARACTERISTICS ........................................................................................................................... 84
9.4.1 Identifying & Selecting Target Accounts ....................................................................................... 84
9.4.2 Build Account Intelligence ............................................................................................................. 84
9.4.3 Developing Personalized Content And Campaigns ........................................................................ 84
9.4.4 Advantages of ABM ....................................................................................................................... 85
9.4.5 Challenges of ABM ........................................................................................................................ 86
9.4.6 Account-based marketing tactics .................................................................................................. 86
9.5 KEY TAKE AWAYS ..................................................................................................................................... 86
10 INFLUENCER MARKETING IN B2B .......................................................................................................... 87
10.1 INTRODUCTION ....................................................................................................................................... 87
10.1.1 What is influencer marketing? ................................................................................................. 87
10.1.2 Strengths of influencer marketing ............................................................................................ 87
10.1.3 B2B vs B2C ................................................................................................................................ 89
10.2 WHY WORK WITH B2B INFLUENCERS? ........................................................................................................ 90
10.3 WHAT MAKES A B2B INFLUENCER? ............................................................................................................ 90
10.4 CASES ................................................................................................................................................... 91
10.5 WHERE TO FIND B2B INFLUENCERS ............................................................................................................ 92
10.5.1 Employee influencers ................................................................................................................ 92
10.5.2 Maslow’s hierarchy of employee engagement ......................................................................... 93
10.5.3 Employee influencers ................................................................................................................ 93
10.6 CHALLENGES .......................................................................................................................................... 93
10.7 KEY FINDINGS ......................................................................................................................................... 94
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1 Introduction to Business Marketing
1.1 What is business-to-business (B2B)
Business marketing or B2B (business-to-business) marketing are marketing activities
(marketing of products or services) of an organisation towards other organisations
→ building, maintaining, and expanding relationships with other businesses
B2B Marketing aims to create added value for businesses that implements its products of
services. B2B Marketing seeks to convert this added value into
- leads
- sales opportunities
- and turnover for profit-focused companies
Definition of B2B Marketing
- the practice of individuals, or organizations, including commercial businesses,
governments and institutions,
- facilitating the sale of their products or services to other companies or organizations
- that in turn resell them, use them as components in products or services they offer,
or use them to support their operations
Construction eq. Internet & cloud Consulting Courier sv. technical textiles,
Zinc Video servers
services protective clothing
1.2 Characteristics of B2B Markets
A. Market
B. Buying behaviour
C. Demand
D. Distribution channels
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