MRK525 - Business-to-business Marketing
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|Last revision date||Apr 26, 2013 9:13:37 AM|
|Last review date||May 1, 2013 4:33:50 PM|
This subject introduces the student to the complexities of marketing to corporations, governments, and institutions as opposed to marketing to the end consumer. Since many students will find first jobs in the business-to-business marketplace, this subject provides a key counterpoint to earlier courses that have largely dealt with consumer marketing.This subject is an optional professional subject offered to third year students in the Business Administration program. Six case studies will be used to help the students identify key issues and select the best strategy from competing alternatives.
Upon successful completion of this subject the student will be able to:
1. Improvement of the student's understanding of the nature of business marketing, particularly with respect to why and how organizational customers buy and how firms compete within their industries.
2. Enhancement of the student's ability to learn inductively; that is, to develop general principles from the study of one situation that will apply in other situations.
3. Development of presentational skills through discussing with businesslike fashion the key issues involved in lectures and cases.
4. Analyzing the relevant cases prior to class discussions.
5. Demonstrate an understanding of the forces that create demand and analyze complex organizational buying processes.
6. Show an understanding of the tools used to assist corporate planning.
7. Examine how organizations buy and how organizational buying behaviour functions. Models such as the BUYGRID model will be used to help develop this understanding.
8. Develop industry analyses that show when and how value is added in the business system. Use such analyses to select and implement certain strategies.
9. Demonstrate an understanding of the importance of marketing intelligence and its key role in the globalization of business.
10. Use market segmentation as a tool to decide which markets to pursue and which segments to target.
11. Understand how existing products must be managed and how new products should be evaluated.
12. Demonstrate an understanding of how pricing decisions and price policies must not only consider the firm's costs, but also customer sensitivity to price and the competitive situations.
13. Sense the dynamic nature of personal selling and particularly the techniques involved in the development of a customer base by a new salesperson.
14. Understand and select appropriate communication methods available to support personal selling.
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