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Business to Business Market Planning and Strategy

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Business to Business Market Planning and Strategy Business to Business Marketing, 2009 Johan Larsson Readings Ford et al chapters 2, 7 and 9 Anderson et al chapter 4 ... – PowerPoint PPT presentation

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Title: Business to Business Market Planning and Strategy


1
Business to BusinessMarket Planning and Strategy
  • Business to Business Marketing, 2009
  • Johan Larsson

2
Readings
  • Ford et al chapters 2, 7 and 9
  • Anderson et al chapter 4

3
Crafting Market Strategy
Chance favors the prepared mind.
- Louis Pasteur Crafting market strategy is
the process of studying how to exploit a firms
resources to achieve short-term and long-term
success, deciding on a course of action to
pursue, and flexibly updating it as learning
occurs during its implementation. Interplay
between deliberate strategy and emergent strategy
4
Business Strategy as the context for market
strategy
  • A resource based view of the firm
  • - Core competencies
  • - Capabilities
  • - Reliance on outside partners for resources
  • Fundamental value strategies
  • - Product leadership
  • - Customer intimacy
  • - Operational execellence

5
Market planning
  • Planning should provide meaningful answers to the
    questions
  • What do we know?
  • What do we want to accomplish?
  • How will we do it?

6
What do we know
  • Review recent performance
  • Gather essential market information
  • Construct scenarios

7
Market information essentials for planning market
strategy in business markets
  • 1. Alternative ways of segmenting the market
    that give the firm some leverage.
  • 2. Estimates of the size and growth of each
    market segment presently and potentially served.
  • 3. The distribution of estimates of the firms
    share of customers business for each market
    segment.
  • 4. Estimates of the value of the product
    offerings and the value of the augmenting
    services for each market segment.
  • 5. Two or three strengths and two or three
    weaknesses where actionable improvements would
    significantly affect customers perceptions of
    the firms performance.
  • 6. Knowledge of the firms most- and
    least-profitable products, and most- and least
    profitable customer groups.

8
What do we want to accomplish
  • Targeting
  • Set goals and objectives
  • Positioning in business markets

9
Positioning
  • Positioning is the process of establishing (and
    sustaining) an intended meaning for a market
    offering in the minds of targeted customers.
  • Guidance varies on writing positioning
    statements, but the critical components are
  • target (customer descriptors)
  • offering concept (essential attributes)
  • value proposition (point-of-difference,
    relative benefits)
  • Depending on the context, sales and delivery
    approach (channels), and claim support
    (reason-to-believe) may be components for
    inclusion

10
How will we do it?
  • Develop an action plan
  • Marketing and sales programs
  • Take stock of implemenation skills
  • Learning and adapting

11
Sales and marketing plans
  • All programs are predicated upon the market
    view(s) of a firms sales and marketing people,
    and the resulting assumptions they make in
    setting objectives and designing programs.
  • Elements of a program
  • Objective(s)
  • Actions to be taken
  • Responsibilities defined
  • Timing
  • Budgets
  • Measure(s) of feedback
  • Enables a) Assessing the extent to which the
    program met its objective(s) b) modificationsin
    program responsive to changing marketplace
    conditions c) establishing benchmarks
  • d) accountability of individuals, and basis for
    performance review
  • Before putting a program to bed, ask a
    retrospective question in advance Six months
    down the road, when this program has failed, what
    will have been the cause of it?

12
Final wisdom
  • It is a bad plan that admits of no modification.
  • It is a b- Publilius Syrus 1st Century B.C
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