1.4 B2B: Push & Pull and the 4W’s Approach

Loading...

En provenance du cours de Yonsei University

International B2B (Business to Business) Marketing

148 notes

Yonsei University

International B2B (Business to Business) Marketing

148 notes

Cours 3 sur 6 dans Specialization International Marketing & Cross Industry Growth

This course offers a unique perspective into the differentiating aspects of business to business (B2B) marketing that can be contrasted to traditional business to consumer (B2C) marketing that is the subject of most other marketing curricula. Moreover, as one of the courses in the Specialization: International Marketing & Cross Industry Growth, here too there is an emphasis on how companies can expand by cross-country and cross-industry innovation. By taking this course learners will obtain the following outcomes: (1) understand the differences between B2C and B2B marketing. (2) approach marketing problems from an inter-organizational perspective, in particular, learn about decision making at buying centers. (3) innovate B2B marketing via a CCCI, i.e. Cross Country & Cross Industry Innovation approach. (4) gain insights about CCCI Innovation and best practices via interviews with top B2B industry experts.

À partir de la leçon

What is B2B Marketing?

During Week 1, learners will obtain a fundamental and solid understanding of the characteristics of business to business (B2B) marketing. Some key constructs such as the buying center is used to explain the complex web of interactions that occur when B2B marketing takes place. The first week will offer learners very practical methods that they can use to proactively market to B2B customers such as the 4W's Approach. This week learners will also "learn" from the experience of two practitioners, Alex Teo and Prasanna Meduri who discuss B2B marketing in international markets and how it is changing. There is a practice quiz and a graded quiz in Week 1 for learners to accustom themselves to a formal evaluation of basic B2B marketing knowledge acquisition.

Introduction to Specialization3:42

1.1 Introduction to Course1:14

1.2 What is B2B Marketing? Part18:27

1.3 What is B2B Marketing? Part29:18

1.4 B2B: Push & Pull and the 4W’s Approach8:41

1.5 Expert B2B Interview with Alex Teo and Prasanna Meduri Part19:12

1.6 Expert B2B Interview with Alex Teo and Prasanna Meduri Part27:44

Rencontrer les enseignants

Dae Ryun Chang
Professor of Marketing
School of Business

Welcome to B2B: Push & Pull and The 4W's Approach.

In this segment we will cover two important concepts.

One, which is how B2B and B2C ultimately have to be linked.

And two, how to bring all the B2B concepts that we've

learned together into one summary strategy framework.

So, let's get started.

Okay, B2B and B2C, we tend to separate them.

But as for me, I like to actually bring

them together, and call them B2B2C.

And it's because ultimately,

all B2B ends with the end user, and hence, we have to add to C.

So in that sense, all B2C is also B2B,

from the standpoint that you have distribution, you have wholesalers,

and retailers, that act like buyers for manufacturers.

So, I think the misconception with B2B is that it's only

something that pertains to industrial products, not true.

Okay, so related to my argument about B2B to B2C

is that in marketing you have push at a complementary, and

let me say that again, complementary strategy of push.

So it's not push or pull, it's push and pull.

So let's learn what they both mean.

So we see in this diagram that a manufacturer can reach

a consumer in one of two ways.

One, which is through other people, and that's what push means.

So they could offer discounts to the manufacturer who then offers

discount to a retailer, who then is pushed along to offer discounts to the consumer.

But the other way, the other way is to go directly.

And that's what we call a pull strategy.

And even though a lot of marketers tend to think it's one or the other, again,

I like to argue that you need both.

Because it's like physics, say that I'm pushing something,

that I'm pushing the camera, and the camera trusts me as huge.

[LAUGH] So I could do it, but very painstakingly.

But if someone were to pull from behind the camera,

my pushing of the camera will be that much easier.

So marketing's like that too.

This is what I call pulled enabled push.

And we see this being exemplified beautifully by Intel.

That practice is push and pull.

And even though Intel produces what's normally considered

to be a very heavy B2B product, they manufacture,

of course, these microprocessor chips.

Nonetheless, they are [LAUGH] one of the largest

advertisers that aim to make their presence

known among end users, among consumers.

And it's consistent with the concept of derived demand in B2B.

And, there's been this long running debate about why they spend so

much, and I think the reason is rather simple.

It's because, again, they want to create this pull enabled push.

They want to imbue consumers with the sense that

what they're buying, so they're framing the.

That what they're buying are not really PCs,

are not the hardware, but what's inside the hardware.

And that is, of course, what enhances the performance of the PC.

And that is the microprocessor.

And that is why they have branded their components, their ingredients.

And so this is what they can then take to their OEM,

their original equipment manufacturers that produce these PCs.

And they can argue, that again, the buyers [LAUGH],

they demand that each PC have an Intel chip.

So the end result is a greater bargaining position and ultimately margins for them.

Okay, so what does this all mean for strategy?

Well, let me offer you a very easy way to summarize your B2B marketing situation.

And I've been teaching B2B marketing for a long time and this resonates with

many students, especially executive students that have taken my course.

And it's an extension of the decision matrix concept,

where we look at who, when, what, and weight.

And hence, the four W's.

So here we can summarize who's involved in the buying center,

denoted by the b's and the numbers.

We know the process in which it takes place.

We know what each member wants in terms of the buying criteria.

And, finally, the numbers denote the weight,

the voice that each member carries.

So the key takeaway here is that not everyone is involved at every stage.

I've highlighted the two key stages, where at stage one

only one department or maybe member is involved, and therefore we can maybe

just concentrate our efforts to him, especially to the service criterion.

And the other key point maybe at stage five where, one member,

and let's assume that he is the financial controller,

has the greatest say in terms of which to supplier

offered the best total cost package.

So, this just a brief summary of the take aways from that matrix.

That we need sequential targeting,

that not everyone has to be targeted at every stage.

And so, it's really about timing,

knowing at which stage to focus on whom and on what criteria.

And we also summarized that those stages might be,

for that particular situation, stages 1 and 5.

And so the task for you is to make sure that your

point of difference, your strengths,

are aligned to the or the demand criterion for

each buying center member at each stage.

So, wrapping up, we learned that all B2B is actually B2C.

And therefore, it's not just us pushing, but

to the extent that pull can help us in that push,

we also have to formulate some pull related strategies as well.

And even though B2B marketing can be very very complex,

they can be summarized very neatly into,what I call the 4W's Approach.

Explorer notre catalogue

Rejoignez-nous gratuitement et obtenez des recommendations, des mises à jour et des offres personnalisées.

Coursera propose un accès universel à la meilleure formation au monde, en partenariat avec des universités et des organisations du plus haut niveau, pour proposer des cours en ligne.

© 2018 Coursera Inc. Tous droits réservés.

Télécharger dans l'App Store

Disponible sur Google Play