Relationship Development In B2b Marketing
|✅ Paper Type: Free Essay||✅ Subject: Marketing|
|✅ Wordcount: 1616 words||✅ Published: 12th May 2017|
This is the flow of business to consumers. Now the whole new world opens up when we realize the concept of business to business marketing. The idea is simple where businesses will have deals with each other to come out with a product or services or in also using the products of other companies for the operations of their businesses.
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The concept of business to business marketing is widely accepted and well known. For an example, the same companies Dell need to produce laptops in a larger scale where they will need some crucial parts for the completion of the laptops especially their hardware. One of the hardware that will be required is the microprocessor where the company relies on Intel for the laptops.
As a marketing manager of Dell Malaysia, I have been assigned to emphasis on the importance of the buyer and seller relationship development process. As in the current example the companies that will be included in this report would be Dell that manufacturer laptops and desktops with the technology or hardware tool as microprocessor supplied by Intel.
B2B marketing is defined as Business to Business marketing that involves two or more companies relate with each other as buyer and seller where one company sells and the other buys the product or services. Therefore, to say it in simple terms it is the process where businesses sell their products or services to other businesses. It can be seen in this report where Intel sells their microprocessor to Dell in bulk. This marketing process is different compared with business to consumers because there will be high dependability on business relationship where the companies will try to maintain a good relationship to ensure there will long lasting relationship for the firms survival.
Dell is a Computer System company that sells computers, laptops and other computer related products online with its website. The company was founded in November 4, 1984 by Michael Dell in his dorm room. Currently Dell is serving consumers and business worldwide with revenue more than USD $ 50 Billion. Currently Dell diversified its products ranging from Desktops to Smartphone where Dell is taking the risk to play in any industries that Dell would be capable of changing it. One of the recent products that stirred the market was Dellâ€™s response to Appleâ€™s Ipad which is the tablet that can be transformed into laptop. The result is a huge response from the consumers and tech savvy people from all over the world.
5.0 Importance of Relationship Development in B2B Marketing
Businesses will tend to work on creating positive relationships when it comes to business to business marketing where the main goal is to build a long term relationship. There is few importance of relationship development in B2B marketing. One of the importances is to create an ongoing repeated relationship where the buyer makes constant purchases as post purchase services will be offered. Besides that, innovative solutions can be created when there is a good relationship developed between the seller and the buyer.
This is where the buyer can get solutions for the problem that the buyer is facing when they confront the seller. Furthermore, the period of buying and selling can consume time and having a well developed relationship will allow the buyer and seller to have patience. Moreover a solution oriented relationship can be created which will allow the buyer and seller to focus on coming out with solutions that would help them to do the business. For an example, when Dell is offered with a great solution for its products by Intel, then Dell will not consider other semiconductor companies.
6.0 The Relationship Development Process
The relationship development process begins with the understanding of customer needs. It is where the businesses are regarded as customers and the seller will be responding to the needs of the buyer. The main aspect that would be in the mind of seller is to provide value to the buyer by solving the problem or providing solution to the buyer. Dell will be looking for a very good and fast processor that can withstand heat which is being provided by Intel.
The second part of the process is where the customers are treated as partners. This will be a chance for the seller to receive feedback about their services direct from the customers. For an example, Dell would give suggestions to Intel and at the same time receiving opinions from Intel to come out with a good hardware needed.
The third part of the relationship development process is in ensuring that employees satisfy customer needs. This is a crucial point for the seller where the employees in the company would be striving to provide maximum customer support and service. For an example, Dell would provide 24-hour customer service with its online and also by toll free line.
The final part of the relationship development process will be in providing customers with best possible quality, relative to individual needs. The reason is simple where the seller will be providing massive value for the buyers with the goal in mind to make the customer a long term and loyal customer.
The idea is that, customers are not only buying products or services but they are buying experience where the customer will come back again if they had a very good experience in the business transaction. For an example, when Intel is offering a great service to Dell by giving instant help when Dell requires it especially during the manufacturing of laptops. Dell will be able to rectify the problem easily when there are some defects in microprocessors.
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Business to business marketing can be an interesting world under business market. There will be greater benefits for businesses that involves in the transaction due to the fact that the both buyers and sellers will be able to enjoy greater profits. It can be done in a way where businesses will buy in bulk to use for their business operations.
The price that will be offered to the buyer will be cheaper when they buy in bulk. That is the reason why buying in bulk would be preferred widely by most organizations. Besides that, the post purchase services that are being offered by seller would be beneficial for the organizations.
Relationship marketing which is a branch under the business to business marketing can be a way for businesses to form alliances or strategic partnership that can be beneficial for both buyers and sellers. The future of business to business marketing will be fast, cheaper, efficient and technology will be the backbone for the business transactions.
It is well known in the business world that when there is a drastic or greater change outside of the organization, then it shows that the organization is ready to be closed down. The theory is that change within the organization must be greater than the change outside of the organization. The internal environment of the organization must be strong with sufficient tools and foundation when compared with the external environment. One of the way companies shield themselves from the constant change in external environment is by developing or innovating new products.
The idea behind this is that the companies intend to equip themselves with products and services which are up to trend. It is a fact that change is the only thing that never changes in this world; therefore, organizations are saving themselves from drowning in the old trend dilemma. Nowadays, businesses must keep themselves up to the trend so that they can survive in the heavy competition no matter what industry they are in. The realization of giving constant value and change to the customers seem to be beneficial for the consumers where they are being able to enjoy greater varieties of products.
The product that is being developed newly can be risky but the rewards for it can be fruitful from the terms of profit and also in terms of brand value. When a company can do this successfully, they will be way ahead of their competitors where the fear of lacking behind or being out of trend can be thrown out of the organization.
As a marketing manager for a technology based company Apple, I have been assigned to produce a report to my managing director to emphasis on the importance and impacts of new product development. I have chosen Apple for the new product that they intend to launch which is the Ipad 2.
Bringing a new product in the market is like a mother giving birth to a baby where the process consumes time, money, risk and also reward. The process of new product development can be quite long but the rewards for the organization that goes through it thoroughly and patiently will reap the fruits. The idea is simple where it is all depends on the trends and also the need for the consumers. When they can spot a product that is inline with trend and fulfilling their needs, the product will be sought after no matter how much is the price.
That is the reason why Apple managed to add in more features to the new Apple Ipad 2 that has a new processor, dual camera, more applications and also improvised software. All this comes at a low price beginning from USD $499. The product was well received by the public and also large corporations when they know that they can use the Apple Ipad 2 for their businesses, medical use, small businesses and also for companies that intend to manage their data. Therefore, an organization that never stops changing will never fails to be the top player in the industry.
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