Term Paper on "B2B Marketing What Role Do Buyers"
Term Paper 5 pages (1455 words) Sources: 1+
[EXCERPT] . . . .
B2B Marketingwhat role do buyers and prospective buyers play in the development of new products? Give an example of and industry where they play a significant role.
Given the highly synchronized nature of companies selling products and services to one another, where products to have be precisely created to integrate with another company's machinery or processes, the role of buyers and prospective buyers is critical. These two groups, buyers, who are existing customers, and prospective buyers, who are potential customers, both have a major influence on the design, development and manufacture of B2B-oriented products. The processes by which companies gather and analyze their customers are collectively called Voice of the Customer (VoC) programs and they are specifically designed to capture the unique requirements of business buyers. The greater the complexity and level of abstraction in products, the greater the need for companies selling B2B-oriented products to increase their level of knowledge of both existing and potential buyers' requirements, and this is clearly the case in enterprise software.
SAP AG, the leading provider of enterprise resource planning software, has a thorough series of VoC programs for capturing the critical requirements of its customer base in addition to those prospective customers. As SAP sells software that manages the many tasks and processes involved in running manufacturing centers, the level of expertise that their software needs to exhibit is critical. In addition, their many competitors, including IBM, Microsoft, Oracle and others all make for product development cycles that are quickening and changing the entire it la
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Q2: what do some business channels contain more layers than others? is this a function of price, competition, product complexity, country, adoption of technology or some other factors?
The structure of business channels varies significantly by industry, and while all the above factors in the question are driving factors, one of the most critical is the selection of end customers and the alignment of product features and services specifically to their requirements. Multi-layered distribution channels exist because the customers' ultimate requirements include a high level of customization, tailoring of, and service for specific products. It is common to find multiple layers of a distribution channel all having sold to the end customer before, having extensive knowledge of their requirements and needs as a result. In B2B-based multi-tier distribution channels especially there is a pervasive approach to solution selling that encompasses the unique strengths of each distributor, reseller or dealer in the service of the end customer. This central focus on delivering a unified and highly integrated solution is what is also significantly changing selling strategies through multi-tier channels as well.
The coordination of all members of a distribution channel in fulfilling customers' requirements is called solution selling. This is an approach to selling that moves away form treating every interaction with an end customer as just another transaction, but instead embraces the idea of delivering last value to the customer through the combined efforts of everyone in the distribution channel. Solution selling also focuses on the long-term implications of relationships with customers, looking to become an integral part of their business… READ MORE
Quoted Instructions for "B2B Marketing What Role Do Buyers" Assignment:
it's a b2b marketing course so the answer should be focus on b2b. i dont want more than 2 quotes in the answer, thanks.
Q1: what role do buyers and prospective buyers play in the development of new products? Give an example of and industry where they play a significant role.
Q2: what do some business channels contain more layers than others? is this a function of price, competition, product complexity, country, adoption of technology or some other factors?
Q3: many companies seem to devote more energy to getting new customers than keeping old ones. please explain why.
How to Reference "B2B Marketing What Role Do Buyers" Term Paper in a Bibliography
“B2B Marketing What Role Do Buyers.” A1-TermPaper.com, 2007, https://www.a1-termpaper.com/topics/essay/b2b-marketing-role/8627671. Accessed 5 Oct 2024.
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