Buyer- Seller Real at Ion Ship in b2b Marketing

8/8/2019 Buyer- Seller Real at Ion Ship in b2b Marketing

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BUYER- SELLER

REALATIONSHIP IN B2BMARKETING

Preasented To: Prof. Dr. Vipul Patel

Presented By :Chirag Patel

Sham Magar

Jigar Patel

Jinal Patel

Harshil Shah


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Building Buyer-Seller Relationships

Many customers are seeking ways to simplifytheir lives, and Buyer seller relationships

provide a way to do this

Customers find comfort with brands that have

become familiar through their ongoing

relationships with companies

Such relationships often lead to more efficientdecision-making by customers and higherlevels of customer satisfaction


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THE SHIFT FROM TRANSACTION-BASED

MARKETING TO RELATIONSHIP MARKETING

Transaction-based marketing Buyer and seller exchangescharacterized by limited communications and little or no

ongoing relationship between the parties.

Relationship marketing Development, growth, and

maintenance of long-term, cost-effective relationships withindividual customers, suppliers, employees, and other partners

for mutual benefit.

Views customers as equal partners in transactions.

Encourages long-term relationships, repeat purchases,and multiple brand purchases from the firm.

Collaborative exchange between buyer and seller.


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ELEMENTS OF RELATIONSHIP MARKETING

Firms build long-term relationships by gathering information

about their customers, analyzing and using the data to modifythe marketing mix, monitoring interactions with customers,

and using knowledge of customers and their preferences to

orient every part of the organization.

INTERNAL MARKETING

Internal customersemployees or departments within the

organization whose success depends on the work of other

employees or departments.

Internal marketingmanagerial actions that enable all

organizational members to understand, accept, and fulfill their

respective roles in implementing a marketing strategy.


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THE RELATIONSHIP MARKETING CONTINUUM

Firms try to move buyer-seller relationship from thelowest to the highest level of the continuum of

relationship marketing to strengthen the mutual

commitment between them.


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FIRST LEVEL: FOCUS ON PRICE

Most superficial level, least likely to lead to long-termrelationship.

Marketers rely on pricing to motivate customers.

Competitors can easily duplicate pricing benefits.

SECOND LEVEL: SOCIAL INTERACTIONS

Customer service and communication are key factors.

Example: Wine shop holding a wine-tasting reception.

THIRD LEVEL: INTERDEPENDENT PARTNERSHIP

Relationship transformed into structural changes that ensure

partnership and interdependence between buyer and seller.


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Marketers use three major steps to measure and improve how

well they meet customer needs.

UNDERSTANDING CUSTOMER NEEDS

Firms must understand what customers need, want, and

expect.

Must measure customer satisfaction.

OBTAINING CUSTOMER FEEDBACK AND

ENHANCING CUSTOMER SATISFACTION


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ENSURING CUSTOMER SATISAFACTION

Sources of information include toll free numbers,

onlinefeedback, and evaluators posing as customers.

Complaints help firms overcome problems and

demonstrate commitment to service.

Firms may conduct surveys or monitor blogs to

analyze satisfaction.


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Consumers form relationships to reduce choices andsimplify the buying process.

Customers may switch loyalties if they perceive

better benefits from a competitor.

HOW MARKETERS KEEP CUSTOMERS

Retaining customers is far more profitable than

losing them. According to one study, marketers have

BUILDING BUYER-SELLER RELATIONSHIPS


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Firms generate more profits with each

additional year of a relationship.

Frequency marketing Frequent-buyer oruser marketing programs that reward

customers with cash, rebates, merchandise, orother premiums.

Affinity marketing Marketing effort

sponsored by an organization that solicitsresponses from individuals who share commoninterests and activities.


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DATABASE MARKETING

Database marketing Use of software to analyze

marketing information, identifying and targetingmessages toward specific groups of potentialcustomers.

Help firms identify their most profitable customers

and improve customer retention and referral rates whilereducing marketing and promotion costs.

Data comes from multiple sources, including creditapplications, registrations, point-of-sale scans and othersources.

New technologies are providing more data.


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CUSTOMERS AS ADVOCATES

Grassroots marketingconnecting directly withexisting and potential customers throughnonmainstream channels.

Viral marketingsatisfied customers get the

word about products out to other consumers. Buzz marketingrelies on volunteers to try

products and then talk abut their experiences withfriends and colleagues.

Internet technology gives this word-of-mouthapproach far moreapplications than in the past.


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Customer relationship management (CRM)Combination of strategies and tools that drivesrelationship programs, reorienting the entireorganization to a concentrated focus on satisfyingcustomers.

BENEFITS OF CRM

Software systems can make sense of huge

amounts of data.

Simplify complex business processes whilekeeping customers interests at heart.

CUSTOMER RELATIONSHIP MANAGEMENT


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PROBLEMS WITH CRM

Requires companywide commitment and knowledgeof how to use system.

Failures often result from failure to effectivelyreorganize firms people and processes to take

advantage of benefits CRM system offers. RETRIEVING LOST CUSTOMERS

Customers leave for a variety of reasons.

Customer winbackprocess of rejuvenating lostrelationships with customers.


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Business-to-business marketinginvolvesorganizations purchase of goods and services tosupport company operations or production ofother products.

Advantages of buyer-seller relationship caninclude lower prices, quicker delivery, improvedquality and reliability, and others.

Partnership Affiliation of two or morecompanies that help each other achieve commongoals.

BUYER-SELLER RELATIONSHIPS IN

BUSINESS-TO-BUSINESS MARKETS


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TYPES OF PARTNERSHIPS

Buyer partnerships, seller partnerships, internal

partnerships, and lateral partnerships. COBRANDING AND COMARKETING

Cobranding Cooperative arrangement in which twoor more businesses team up to closely link their nameson a single product.

Comarketing Cooperative arrangement in which twobusinesses jointly market each others products.

CHOOSING BUSINESS PARTNERS

Partner firms must add value to the relationship, complement

each other, and share similar values and goals.


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NATIONAL ACCOUNT SELLING

Technique of providing special attention to a firms largest, most

profitable customers by assembling a team to serve just one or more large

accounts.

BUSINESS-TO-BUSINESS DATABASES

Just as indispensable as in consumer marketing.

ELECTRONIC DATA EXCHANGES AND WEB SERVICES

E

lectronic data interchanges (EDI

) Computer-to-computer exchangesof invoices, orders, and other business documents.

Web servicesallow companies to communicate even if theyre not

running the same or compatible software, hardware, databases, or network

platforms.

IMPROVING BUYER-SELLER RELATIONSHIPS

IN BUSINESS-TO-BUSINESS MARKETS


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VENDOR-MANAGED INVENTORY

Vendor-managed inventory (VMI) Inventory managementsystem in which the sellerbased on an existing agreement with a

buyerdetermines how much of a product is needed.

MANAGING THE SUPPLY CHAIN

Supply chain Sequence of suppliers that contribute to the creationand delivery of a good or service.

May offers increased innovation, decreased costs, improvedconflict resolution within the chain and improved communicationand involvement among members of the chain.

BUSINESS-TO-BUSINESS ALLIANCES

Strategic alliancespartnership formed to create a competitive

advantage. May be less formal, such as jointly establishing a new-product

design team.


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Lifetime value ofa customer Revenues and intangiblebenefits such as referrals and customer feedback that acustomer brings to the seller over an average lifetime, lessthe amount the company must spend to acquire, market to,

and service the customer. Company may analyze lifetime value or payback from a

customer relationship.

May influence the types of customers a firm tries to reach.

Companies of all sizes can implement technology thathelps measure and improve customer value.

EVALUATING CUSTOMER

RELATIONSHIP PROGRAMS


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Buyer- Seller Real at Ion Ship in b2b Marketing

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