B2B Marketing, Sales and Negotiations
Most firms are involved in some form of coordination or cooperation with other firms, and most firms are also involved in larger networks with other firms, customers, suppliers, employees or other stakeholders. Estimates suggest that more than half of all transactions in developed economies take place between firms. Purchasing of products and services account for about 50% of a firm’s costs. More than 90% of all e-business takes place between firms.
Business-to-business (B2B) marketing distinguishes itself from consumer marketing in several ways, among others that decisions are more strategic, that the culture is more technically oriented, that values are often created in close collaboration between with customers, that transactions are large and complex, and that customer relations tend to be long-term and governed by long-term contracts. In addition, personal sales, relationship development, and negotiations are particularly important when the customers are other firms. In this course these different topics—B2B marketing, sales, and negotiations—are therefore integrated and seen as closely connected. As part of the sales concept, interpersonal communication is seen as important for influencing current and future customers.
The course is devided into four main modules, each with different sub-themes.
- What is business-to-business (B2B) marketing?
- What is the role of B2B marketers and sales persons in generating income for their firm?
II. Value, value creation, and value capture in B2B marketing, sale and negotiations:
- What role does B2B relationships play in value creation and value capture?
- How to succeed in simple distributive negotiations?
- Value base sales: customer insight, formulating value propositions, and communication of value.
III. How to achieve value creation through B2B marketing?
- Value creation through problem solving and customer solutions
- Succeeding in negotiations with potential for value creation
- Buying behavior in business markets: what are the characteristics of firms as customers?
- Segmentation: how to segment business markets?
- Organization and execution of sales activities: sales in teams and relations with other functions
IV. Value capture and governance problems in B2B relationships:
- Governance problems in B2B relationships and transactions
- Managing the measurement problem
- Managing the safeguarding and adaptation problems through relational contracts and trust
- The role of the sales person in developing and maintaining credible and clear relational contracts
- Negotiations in teams
- Use of formal mechanisms, such as formal contracts, to support relationships
V. B2B marketing strategy:
- Product decisions
- Pricing strategies
This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.