MRK 3502 B2B Marketing, Sales and Negotiations
MRK 3502 B2B Marketing, Sales and Negotiations
Most firms are involved in some form of coordination or cooperation with other firms, and most firms are also involved in larger networks with other firms, customers, suppliers, employees or other stakeholders. Estimates suggest that more than half of all transactions in developed economies take place between firms. Purchasing of products and services account for about 50% of a firm’s costs. More than 90% of all e-business takes place between firms.
Business-to-business (B2B) marketing distinguishes itself from consumer marketing in several ways, among others that decisions are more strategic, that the culture is more technically oriented, that values are often created in close collaboration between with customers, that transactions are large and complex, and that customer relations tend to be long-term and governed by long-term contracts. In addition, personal sales, relationship development, and negotiations are particularly important when the customers are other firms. In this course these different topics—B2B marketing, sales, and negotiations—are therefore integrated and seen as closely connected. As part of the sales concept, interpersonal communication is seen as important for influencing current and future customers.
I. Characteristics of B2B marketing:
Students will acquire knowledge about the characteristics of B2B marketing and organizations as customers.
II. Problems and decisions:
Students will acquire knowledge about central problems and decisions in B2B marketing, sales and negotiations, and importance of these decisions for sales, value creation and profitability.
III. Concepts, theories and models:
Students will acquire knowledge of central concepts, models, and theories that can be used to analyze and understand how value creation and value capture happens in buyer-seller relationships and through central activities such as negotiations and sales processes.
IV. Techniques, methods, and tools:
The students will acquire knowledge about central methods, tools, and analytical techniques that are used in B2B marketing, sales, and negotiations and organization of the sales function.
V. Strategy and business processes:
Students will acquire knowledge about central challenges concerning the firm’s business processes and cooperation between the marketing function, the sales function and other functions in the firm
I. Analysis:
- Students will be able analyze a B2B relationship with thea aim of identifying value creation potential.
- Students will be able to identify sources of cooperation problems (governance problems) in the sales function and in B2B relationships and different ways of managing these problems through better organization of, respectively, the sales function and B2B relationships.
II. Planning and executing:
- Students will be able to formulate value propositions and find ways of communicating value to customers through a sales process.
- Students will be able to conduct negotiations and problem solving processes with customers with the aim of increasing sales, value creation, and profitability.
- Students will be able to develop a B2B marketing strategy that includes decisions concerning segments/customers, products, prices, communication, organization of the sales and marketing processes internally in the firms, as well as organization and governance of B2B relationships.
- Students will recognize the importance of B2B marketing and sales, and what role sales plays and the responsibilities of a sales person.
- Students will recognize the importance of creating values in B2B relationships through problem solving and negotiations, and the will understand how they should handle different governance problems to achieve this.
- Students will develop understanding of how different decisions within B2B marketing may have externalities and influence factors such as health, environment, safety, work places, and society overall.
The course is devided into four main modules, each with different sub-themes.
I. Introduction:
- What is business-to-business (B2B) marketing?
- What is the role of B2B marketers and sales persons in generating income for their firm?
II. Value, value creation, and value capture in B2B marketing, sale and negotiations:
- What role does B2B relationships play in value creation and value capture?
- How to succeed in simple distributive negotiations?
- Value base sales: customer insight, formulating value propositions, and communication of value.
III. How to achieve value creation through B2B marketing?
- Value creation through problem solving and customer solutions
- Succeeding in negotiations with potential for value creation
- Buying behavior in business markets: what are the characteristics of firms as customers?
- Segmentation: how to segment business markets?
- Organization and execution of sales activities: sales in teams and relations with other functions
IV. Value capture and governance problems in B2B relationships:
- Governance problems in B2B relationships and transactions
- Managing the measurement problem
- Managing the safeguarding and adaptation problems through relational contracts and trust
- The role of the sales person in developing and maintaining credible and clear relational contracts
- Negotiations in teams
- Use of formal mechanisms, such as formal contracts, to support relationships
V. B2B marketing strategy:
- Product decisions
- Pricing strategies
The course will be conducted as a mix of lectures, exercises, and case-discussions.
E-learning
In course delivery as online courses, lecturer will, in collaboration with the student administration, organize an appropriate course implementation, combining different learning activities and digital elements on the learning platform. Online students are also offered a study guide that will contribute to progression and overview. Total recommended time spent for completing the course also applies here.
Higher Education Entrance Qualification.
No particular prerequisites.
| Assessments |
|---|
Exam category: Submission Form of assessment: Written submission Weight: 40 Grouping: Group (1 - 4) Duration: 3 Month(s) Comment: Project paper Exam code: MRK 35021 Grading scale: ECTS Resit: Examination every semester |
Exam category: Submission Form of assessment: Written submission Invigilation Weight: 60 Grouping: Individual Support materials:
Duration: 3 Hour(s) Comment: Written exam Exam code: MRK 35022 Grading scale: ECTS Resit: Examination every semester |
All exams must be passed to get a grade in this course.
| Activity | Duration | Comment |
|---|---|---|
Teaching | 36 Hour(s) | |
Online teaching | 6 Hour(s) | |
Prepare for teaching | 84 Hour(s) | |
Group work / Assignments | 50 Hour(s) | |
Student's own work with learning resources | 24 Hour(s) |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.