A different set of challenges and opportunities exist for the business-to-business (B2B) marketer, who intends to serve the needs of organizations rather than individuals/households. The B2B marketing process is longer and largely governed by relationship marketing. Buying behaviour is more rational and there are multiple decision influencers. Demand for B2B products and services is less elastic than B2C, thus transactions are more, necessitating a more frequent and direct contact between the buyer and seller. The B2B market represents a lucrative and complex market worthy of specialized analysis. Therefore, a growing number of business schools globally have added industrial or business marketing to their curricula. This textbook provides an understanding of the most recent industry trends and today's dynamic business-to-business (B2B) market. This edition ties the concepts to real-world decision-making and to industry best practices. The similarities and differences between consumer goods and B2B marketing are reviewed. Revised content focuses on market analysis, organizational buying behaviour, relationship management, and marketing strategies to reach organizational customers. A new digital playbook and expanded content on smart, connected products explore how digital-first engagement preferences of B2B buyers are transforming customer relationship processes.
Part 1 The Environment of Business Marketing
1 A Business Marketing Perspective
Part 2 Managing Relationships in Business Marketing
2 Organizational Buying Behavior
3 Customer Relationship Management Strategies for Business Markets
Part 3 Assessing Market Opportunities
4 Segmenting the Business Market and Estimating Segment Demand
Part 4 Formulating Business Marketing Strategy
5 Business Marketing Planning: Strategic Perspectives
6 ESG and Business Marketing Strategies for Global Markets
7 Managing Products for Business Markets
8 Managing Innovation and New Industrial Product Development
9 Managing Services for Business Markets
10 Managing Business Marketing Channels: The Omnichannel Imperative
11 Supply Chain Management
12 Pricing Strategies for Business Markets
13 Marketing Communications and the Customer Decision Journey
14 B2B Sales Strategies for Digital-First Buyers
Part 5 Evaluating Business Marketing Strategy and Performance
15 Marketing Performance Measurement
