Transcription of Business Marketing Management: B2B
1 Business Marketing Management: B2B. This page intentionally left blank Business Marketing Management: B2B. 10 e MICHAEL D. HUTT. Arizona State University . THOMAS W. SPEH. Miami University Australia Brazil Japan Korea Mexico Singapore Spain United Kingdom United States Business Marketing Management: 2010, 2007 South-Western, Cengage Learning B2B, Tenth Edition ALL RIGHTS RESERVED. No part of this work covered by the copyright Michael D. Hutt and Thomas W. Speh hereon may be reproduced or used in any form or by any means . Vice President of Editorial, Business : graphic, electronic, or mechanical, including photocopying, recording, Jack W. Calhoun taping, Web distribution, information storage and retrieval systems, or Editor-in-Chief: Melissa Acuna in any other manner except as may be permitted by the license terms Acquisitions Editor: Mike Roche herein.
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4 To Rita and to Sara, and in memory of Michele This page intentionally left blank PREFACE. Special challenges and opportunities confront the marketer who intends to serve the needs of organizations rather than households. Business -to- Business customers repre- sent a lucrative and complex market worthy of separate analysis. A growing number of collegiate schools of Business in the United States, Canada, and Europe have added industrial or Business Marketing to their curricula. In addition, a large and growing network of scholars in the United States and Europe is actively engaged in research to advance theory and practice in the Business Marketing field. Both the breadth and quality of this research has increased markedly during the past decade. The rising importance of the field can be demonstrated by several factors. First, be- cause more than half of all Business school graduates enter firms that compete in busi- ness markets, a comprehensive treatment of Business Marketing management appears to be particularly appropriate.
5 The Business Marketing course provides an ideal platform to deepen a student's knowledge of the competitive realities of the global marketplace, customer relationship management, cross-functional decision-making processes, supply chain management, e-commerce, and related areas. Such core content areas strike a re- sponsive chord with corporate recruiters and squarely address key educational priorities established by the American Assembly of Collegiate Schools of Business (AACSB). Second, the Business Marketing course provides a perfect vehicle for examining the special features of high-technology markets and for isolating the unique challenges that confront the Marketing strategist in this arena. High-tech markets represent a rapidly growing and dynamic sector of the world economy and a fiercely competitive global battle- ground but often receive only modest attention in the traditional Marketing curriculum.
6 Electronic (e) commerce also falls squarely into the domain of the Business market. In fact, the opportunity for e-commerce in the Business -to- Business market is estimated to be several times larger than the opportunity that exists in the Business -to-consumer market. Third, the Institute for the Study of Business Markets (ISBM) at Pennsylvania State University has provided important impetus to research in the area. ISBM has become a major information resource for researchers and practitioners and has assumed an active role in stimulating and supporting research on substantive Business Marketing issues. In turn, the number of research studies centered on the Business -to- Business domain has significantly expanded in recent years, and specialized journals in the area attract a steady stream of submissions. The hard work, multiyear commitments, and leadership of the editors of these journals are worthy of note: Journal of Business -to- Business Mar- keting, J.
7 David Lichtenthal, Baruch College; Journal of Business & Industrial Marketing , Wesley J. Johnston, Georgia State University; and Industrial Marketing Management, Peter LaPlaca, University of Connecticut. Three objectives guided the development of this edition: 1. To highlight the similarities between consumer-goods and Business -to- Business Marketing and to explore in depth the points of departure. Particular attention is given to market analysis, organizational buying behavior, customer relationship management, supply chain management, and the ensuing adjustments required in the Marketing strategy elements used to reach organizational customers. 2. To present a managerial rather than a descriptive treatment of Business Marketing . Whereas some descriptive material is required to convey the vii viii Preface dynamic nature of the Business Marketing environment, the relevance of the material is linked to Marketing strategy decision making.
8 3. To integrate the growing body of literature into a strategic treatment of Business Marketing . In this text, relevant work is drawn from organizational buying behavior, procurement, organizational behavior, supply chain management, strategic management, and the behavioral sciences , as well as from specialized studies of Business Marketing strategy components. The book is structured to provide a complete and timely treatment of Business Marketing while minimizing the degree of overlap with other courses in the Marketing curriculum. A basic Marketing principles course (or relevant managerial experience). provides the needed background for this text. New to This Edition Although the basic objectives, approach, and style of earlier editions have been main- tained, several changes and additions have been made that reflect both the growing body of literature and the emerging trends in Business Marketing practice.
9 Specifically, the following themes and distinctive features are incorporated into the tenth edition: Relationship Marketing Strategies: new and expanded coverage of the drivers of relationship Marketing effectiveness and the financial impact of relationship Marketing programs. Strategic Alliances: a timely and richly illustrated discussion of the determi- nants and social ingredients of alliance success. Strong B2B Brands: specific steps for building and managing a profitable B2B. brand. Marketing Performance Measurement: a timely treatment of specific metrics for measuring the impact of Marketing strategy decisions on firm performance. A Value-Based Approach for Pricing: a timely description of a framework for identifying and measuring value by customer segment. A Customer-Centered Approach to Channel Design: a fresh approach for designing channels from the bottom up, rather than the top down.
10 Other new topics of interest: the new edition includes expanded treatment of customer experience management, corporate entrepreneurship, strategic positioning, and the emerging trends in online advertising strategies. Organization of the Tenth Edition The needs and interests of the reader provided the focus in the development of this vol- ume. The authors' goal is to present a clear, timely, and engaging examination of busi- ness Marketing management. To this end, each chapter provides an overview, highlights key concepts, and includes several carefully chosen examples of contemporary Business Preface ix Marketing practice, as well as a cogent summary and a set of provocative discussion questions. Contemporary Business Marketing strategies and challenges are illustrated with three types of vignettes: B2B Top Performers, Inside Business Marketing , and Ethical Business Marketing .
