Description
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For Business-to-business marketing courses.
Anderson builds the book around a framework of understanding, creating, and delivering value.
New To This Edition
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This edition reflects changes in business markets.
NEW! Title Change
The title of this book has changed from Business Marketing to Business Market Management, to reflect the authors recognition that marketing work processes, such as segmentation, targeting and positioning, increasingly take place within business market processes such as crafting market strategy and managing market offerings.
NEW! Customer Value Recognition
Value proposition has recently become one of the most widely-used terms in business marketing, yet our management practice research revealed that there is little specificity or agreement as to what constitutes a value proposition or what makes one persuasive. This edition provides a detailed discussion of this topic in relation to business markets.
NEW! Gaining Business
The title of Chapter 8 has changed from "Gaining Customers" to "Gaining New Business" to reflect the new concepts that we have incorporated in this edition.
This is more inclusive, helping readers think about gaining new business from existing customers rather than just gaining new customers.
Focus remains on:
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Differentiation amongst the various types of opportunities that suppliers are faced with and the consequences these have on the suppliers' capabilities;
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Winning and satisfying the business generated by educating prospective customers and creating a demand for the product;
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The concept of a value stack - Suppliers gain insights from using a value stack to understand and construct potential value that they can create in any new business opportunity;
Revised Chapter 10: Managing Customers
The central premise for the new Chapter 10, is that suppliers must move beyond select customer relationships to actively manage the entire portfolio of customer relationships over time.
To do so, suppliers must:
.
Differentiate between transactional and collaborative customers;
.
Develop a clear trajectory on how to cultivate and grow particular working relationships;
Features and Benefits
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For Business-to-business marketing courses.
Anderson builds the book around a framework of understanding, creating, and delivering value.
Business Process Framework
The third edition of this text retains the framework for understanding, delivering, and creating value that was established in the first edition, giving the readers a framework for understanding the topic.
Chapters are devoted to each of the business market processes, such as:
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Crafting Marketing Strategy
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Managing Market Offerings
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Managing Customers
4 Guiding Principles
The same four guiding principles of business market management still recur throughout the third edition, providing practical knowledge for the reader to use on the job.
The principles are:
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Regard Value as the Cornerstone
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Focus on Business Market Processes
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Stress Doing Business across Borders
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Accentuate Working Relationships and Business Networks
OTHER TOPICS OF DISTINCTION
Title Change
The title of this book has changed from Business Marketing to Business Market Management, to reflect the authors recognition that marketing work processes, such as segmentation, targeting and positioning, increasingly take place within business market processes such as crafting market strategy and managing market offerings.
Customer Value Recognition
Value proposition has recently become one of the most widely-used terms in business marketing, yet our management practice research revealed that there is little specificity or agreement as to what constitutes a value proposition or what makes one persuasive. This edition provides a detailed discussion of this topic in relation to business markets.
Gaining Business
The title of Chapter 8 has changed from "Gaining Customers" to "Gaining New Business" to reflect the new concepts that we have incorporated in this edition.
This is more inclusive, helping readers think about gaining new business from existing customers rather than just gaining new customers.
Focus remains on:
.
Differentiation amongst the various types of opportunities that suppliers are faced with and the consequences these have on the suppliers' capabilities;
.
Winning and satisfying the business generated by educating prospective customers and creating a demand for the product;
.
The concept of a value stack - Suppliers gain insights from using a value stack to understand and construct potential value that they can create in any new business opportunity;
Revised Chapter 10: Managing Customers
The central premise for the new Chapter 10, is that suppliers must move beyond select customer relationships to actively manage the entire portfolio of customer relationships over time.
To do so, suppliers must:
.
Differentiate between transactional and collaborative customers;
.
Develop a clear trajectory on how to cultivate and grow particular working relationships;
Table of Contents
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Preface
Acknowledgements
About the Authors
SECTION I:
INTRODUCTION AND OVERVIEW
CHAPTER 1: BUSINESS MARKET MANAGEMENT: GUIDING PRINCIPLES
OVERVIEW
VALUE AS THE CORNERSTONE OF BUSINESS MARKET MANAGEMENT
What is Value in Business Markets?
Assessing Value in Practice
MANAGING BUSINESS MARKET PROCESSES
Shareholder Value, Business Processes, and Marketing
Core Business Processes
Contributions of Marketing
Business Market Management and Business Marketing
Business market processes
Business marketing
DOING BUSINESS ACROSS BORDERS
Language and Culture
Cross-Border Negotiation and Dispute Resolution
Cross-border negotiations
Cross-border dispute resolution
Currency Exchange and Payment Risk
WORKING RELATIONSHIPS AND BUSINESS NETWORKS
Work Teams
Working Relationships
Collaborative relationship agreements
Collaborative relationship development
Business Networks
Business network characteristics
Analyzing business networks
SUMMARY
SECTION II:
UNDERSTANDING VALUE
CHAPTER 2: MARKET SENSING: GENERATING AND USING KNOWLEDGE ABOUT THE MARKET
OVERVIEW
DEFINING THE MARKET
Market Segmentation
Conventional bases of segmentation
Progressive bases of segmentation
Determining Market Segments of Interest
Market segment size and growth
Sales and profit potential.
MONITORING COMPETITION
A Framework for Competitor Analysis
Future goals
Assumptions
Current strategy
Capabilities
Improving Monitoring Performance
Competitor intelligence systems
Seek disconfirming as well as confirming evidence
ASSESSING VALUE
Value Assessment Methods
Internal engineering assessment
Field value-in-use assessment
Indirect survey questions
Focus group value assessment
Direct survey questions
Conjoint analysis
Benchmarks
Compositional approach
Importance ratings
Customer Value Management
Translating business issues into projects
Customer value workshop
Customer value research
Constructing a business case for change
Value realization
GAINING CUSTOMER FEEDBACK
Customer Satisfaction Measurement
American Customer Satisfaction Index (ACSI)
What customer satisfaction results mean
Customer Value Analysis
Net Promoter Score
SUMMARY
