Category: btl marketing Supplier

BTL marketing Supplier Malvani | BTL marketing Supplier mumbai

BTL marketing Supplier Malvani

Fulcrum Marketing is a strategic BTL marketing Supplier Malvani. Our team of marketing consultants also specialise in marketing planning and BTL marketing for all types of business of any size.

Brand Strategy: Build a Powerful Brand

Your B2B brand determines which signals you’re sending out to the marketplace and how you are perceived by your audience. Whether launching a new service, targeting a niche audience with specific products, or knocking the rust off a dated market position, your brand strategy is fundamental to your company’s success. That’s where we come in. Uncovering the insights that help build an effective, hard-working B2B brand position takes experience — an ability to conduct interviews that deliver more than high-level answers to boilerplate questions; curious researchers willing to explore the idiosyncrasies of your markets; creative minds that bring clarity, even when a compelling position feels obfuscated by internal biases and aggressive competitors.

Research
Interview customers and SMEs
Primary, secondary research		Messaging
Tell your story convincingly
Maintain campaign consistency		Brand Expression
Create a visual representation of your brand

We start with research — talking with your product experts and potential customers to make sure we understand the nuances of your position.

Then, we craft persuasive messages that connect with your target audience, ensuring continuity across all communications.
Finally, we create a visual identity that expresses your brand to a T.

While it’s not quite as easy as one-two-three, we’ll keep it simple, staying focused on the insights that can serve as brand building blocks and avoiding unnecessary trips down rabbit holes that won’t bring any value.

MARKETING STRATEGY

Effective marketing organisations must be driven through sound business strategy. Fulcrum produce marketing strategy that is always well embodied by your business strategy.

The best marketing strategy does not start with creative, it starts with a marketing process.

The Fulcrum Marketing Strategy Development Process is a thorough problem solving and marketing strategy development program that focusses on solving your growth challenges and maximising the return from your company’s marketing operations.

 

SALES METHODOLOGIES

Personal selling is a promotional method in which one party uses skills and techniques for building personal relationships with another party that results in both parties obtaining value. Personal selling occurs whenever an individual salesperson sells a product, service or solution to a client.

AIDA Method

AIDA is an acronym that stands for Attention, Interest, Desire and Action. This is a method that looks at the steps a client will undertake from when they first becomes aware of the product or service, to when they are making a purchase decision.

Attention – Get the other person’s interest
Interest – Spark their curiosity
Desire – Create the need
Action – Get them to commit to something

Need satisfaction

The need satisfaction technique is a question and answer technique to make the client to recognise the need for your offering. This then leads to the client agreeing that they have a need to be fulfilled, which leads to you showing them how your offer can satisfy their needs. This method is based on a win-win approach for both the sales person and the client.

Depth Theory

Depth Theory is when a creation of trust occurs between the buyer and seller. The seller uses expertise in their product, service or industry to create trust between themselves and the buyer. The client will see the salesperson as an expert in that area and will trust them to solve the issues that they have.

 Step process

The 7 step process is a plan of action that starts at the planning and preparation to make the sale and leads to after sale follow ups. The 7 steps are:
1.   Planning and preparation
2.   Introduction or opening
3.   Questioning
4.   Presentation
5.   Overcoming objections/negotiating
6.   Closing
7.   After-sales follow-up

Implementing a BTL marketing Strategy

Implementing a Marketing Strategy Execution Plan, known to Fulcrum and our clients as a “Sprint Plan” is the most effective way to prevent this highway-less journey , BTL marketing Supplier . A Marketing Strategy is a set of strategic goal-focused plans for a certain period of time.

BTL marketing Strategy and Planning

Implement your marketing plan

Your marketing plan must do more than just say what you want to happen. It must describe each step required to make sure that it happens.

Schedule
The plan should include a schedule of key tasks. This sets out what will be done, and by when. Refer to the schedule as often as possible to avoid losing sight of your objectives under the daily workload.		Team And Resources
It should also assess what resources you need. For example, you might need to think about what brochures you need, and whether they need to be available for distribution. You might also need to look at how much time it takes to sell to customers and whether you have enough salespeople.
Cost
The cost of everything in the plan needs to be included in a budget. If your finances are limited, your plan will need to take that into account. Don’t spread your marketing activities too thinly – it is better to concentrate your resources to make the most of your budget. You may also want to link your marketing budget to your sales forecast.		Control
As well as setting out the schedule, the plan needs to say how it will be controlled. You need an individual who takes responsibility for pushing things along. A good schedule and budget should make it easy to monitor progress. When things fall behind schedule, or costs overrun, you need to be ready to do something about it and to adapt your plan accordingly.

Marketing Execution – Plan, Execute, Track, Measure

Everyone likes to talk about creating a marketing plan. It’s the fun part of marketing, the creative aspect of your planning process and BTL marketing Supplier . But strategy without execution won’t help your business succeed. In fact, marketing execution is how you achieve results.

Create your marketing strategy

Decide how to market your product or service to potential customers by developing a marketing strategy that positions your product to particular customers

Write a marketing execution plan

How to identify your objectives and write a plan that will help your marketing generate sales, including tactics and objectives

Marketing on a tight budget

How to get the most out of a small or limited marketing budget using cost-effective marketing methods such as Public Relations and online marketing

Marketing your business in Pune

How to market your business effectively in pune including researching your target audience and establishing new contacts

BTL marketing,BTL marketing Supplier Malvani

Get in touch with us, we would love to discuss your marketing needs.

We love a good coffee and a challenge, so would behappy to meet up with you face to face.

Marketing Company in Malvani

Call Us :-08433772261
Email:- info@fulcrumresources.in

Malvani, mumbai

 

B2B Marketing: 

Fulcrum is a magnet for businesses with well-defined goals and a desire to harness the latest advantages that marketing and technology can offer.

Face To Face Marketing : 

face to face field marketing is also called personal selling or door to door marketing, customers are met directly in order to sell their products, using this method of field marketing.

Product Sampling :

Fulcrum are a highly recommended provider of product sampling staff. We specialise in the implementation of sampling campaigns using our in house sampling team and logistical know-how.

Dealer Marketing: 

Dealer marketing is of utmost importance for the success of any brand. For most brands, dealers, distributors and resellers are critical links to success.

Direct Marketing:  

we can help with everything from planning and design to production and delivery ensuring your direct marketing campaigns are delivered on time to the highest quality.

Guerrilla Marketing:

When it comes to guerrilla marketing the gloves are off. They are usually low budget campaigns but with the right imagination and ideas they offer up some unprecedented results

Retail Marketing:

Fulcrum is a dynamic-retail marketing agency born in tradition, fueled by innovation, and living at the intersection of commerce and imagination.

Direct Selling : 

Much like product demonstrations these campaigns have brand reps or ambassadors at the center of them. The difference is it’s more about the selling of the product

Retail Audits & Merchandising:

Auditing takes the reps out off the front line and away from the consumer. Auditing teams are used by marketers to monitor traditional marketing strategies that they put in place across retail.

Door To Door Marketing :

Nothing beats the reality that one gets when you can interact with potential clients face to face physically moving from door to door within a community or household to household,

Product Demonstrations:

As mentioned already, demo days are a popular tool of field marketing. These campaigns can stretch from as little as one week to 6 months however some are continuous and full time.

Street Marketing: 

We will still need to spend time interacting with people, face-to-face, Street Marketing. Personal interaction is what makes the world go around

BTL marketing 

BTL marketing Supplier

The team at Fulcrum has delivering successful Shopping Centre Marketing Campaigns across a wide range of shopping centres and retail complexes. From major  retail locations to local community focused shopping centres; we have secured real, measurable results across the board.

BTL marketing Plan and BTL marketing Strategy

BTL marketing Supplier mumbai

Malvani, mumbai

Mumbai, also known as Bombay, is the capital of Maharashtra. It is the most populous city in India and the fourth most populous city in the world. Along with the neighbouring urban areas including Navi Mumbai and Thane, it is one of the most populous urban regions in the world. Mumbai lies on the west coast of India and has a natural harbour.

Seven islands came together to constitute present day Mumbai. During the mid-18th century, Mumbai was reshaped by reclaiming the area between the seven islands from the sea. Bombay was characterized by economic and educational development in the 19th century. Upon India’s independence, the city was incorporated into Bombay State. In 1960, a new state of Maharashtra was created with Bombay as the capital. The city was renamed Mumbai in 1996.

Mumbai is the financial and entertainment capital of India. The city houses important financial institutions such as the Reserve Bank of India, the SEBI, the Bombay Stock Exchange, the National Stock Exchange of India and corporate headquarters of numerous Indian companies and multinational corporations. Mumbai has evolved into a global financial hub.

Mumbai is the financial and entertainment capital of India. The city houses important financial institutions such as the Reserve Bank of India, the SEBI, the Bombay Stock Exchange, the National Stock Exchange of India and corporate headquarters of numerous Indian companies and multinational corporations. Mumbai has evolved into a global financial hub.

It is home to some of India’s premier scientific and nuclear institutes such as BARC, NPCL, AERB, AECI and the Department of Atomic Energy. The city also houses India’s Bollywood movie industry. Mumbai’s business opportunities, as well as its potential to offer a higher standard of living, attract migrants from all over India, making the city a melting pot of many communities and cultures.

In 1950, municipal limits of Bombay were expanded by merging the Bombay Suburban District and Bombay Island City to form Greater Bombay Municipal Corporation (GBMC).

In 1979, a sister township of New Bombay(Navi Mumbai) was founded by the City and Industrial Development Corporation (CIDCO) across Thane and Raigad districts to help decongest and control Bombay’s population.

Textile industry in Mumbai largely disappeared in 1982. Since then, Mumbai’s defunct cotton mills have become the focus of major redevelopment.

Dharavi, Asia’s second largest slum, is located in central Mumbai and houses between 800,000 to one million people in 2.39 sq.km, making it one of the most densely populated areas on Earth.
Key Projects in Mumbai are Omkar Ananta, Xrbia Aashiyana, Oberoi Tata Steel, K Hemani Neona, L&T Emerald Isle, L&T Crescent Bay, Godrej Prime, SPARK DEVELOPERS JYOTI PALACE, BHUMI YUG GARDENS KAMAN, Dosti Codename Landmark, Dosti Vihar, Dosti Planet North, Dosti Imperia Phase I, Mohan Suburbia, Mohan Willows, Piramal Vaikunth, Mohan Palms.
Most searched properties in Mumbai are 1 bhk flats in mumbai, plots in mumbai, villas in mumbai, 2 bhk flats in mumbai, 3 bhk flats in mumbai, house in mumbai, property in thane, property in ulwe, property in panvel, Flats in mumbai.
Key builders in Mumbai are L&T Realty, Lodha Group, Mahindra Lifespaces, Godrej Properties, Paradise Group, House of Hiranandani, Kolte Patil Developers Ltd, Dosti Realty, Lok Group, Mohan Group.

Demographics:

According to the 2011 census, the population of the city is 12,479,608. The city has seen a huge migration of population from all over India in search of employment opportunities. The population density is approximately 20,482 persons per sq.km. The living space is 4.5 sq.mt per person.
According to 2011 census, the sex ratio in the island city is 838 (per 1,000 male) and 857 in the suburbs. Greater Mumbai has a literacy rate of 94.7%. The literacy rate in Mumbai slums is 69% making these slums the most literate slums in India.

Employment Opportunities
Mumbai is India’s most populated city. It is the financial and commercial capital of the country as it generates 6.16% of the total GDP. The city contributes to 10% of factory employment, 25% of industrial output, 33% of income tax collections, 60% of customs duty collections, 20% of central excise tax collections, 40% of India’s foreign trade and 4000 crore in corporate taxes. Mumbai has witnessed an economic boom since the liberalization of 1991, the finance boom in the mid-nineties and the IT, export, services and outsourcing boom in 2000s.
Although Mumbai had prominently figured as the hub of economic activity of India in the 1990s, the Mumbai Metropolitan Region is presently witnessing a reduction in its contribution to India’s GDP.
Many of India’s conglomerates such as Larsen and Toubro, State Bank of India, Life Insurance Corporation of India, Tata Group, Godrej and Reliance, and five of the Fortune Global 500 companies are based in Mumbai.
The key sectors contributing to the city’s economy are gems and jewellery, leather, IT and ITES, textiles, and entertainment. Bandra Kurla Complex (BKC) and Nariman Point are Mumbai’s major financial centres. The Santacruz Electronic Export Processing Zone (SEEPZ) in Andheri and the International Infotech Park (Navi Mumbai) offer excellent facilities to IT companies.
Current situation indicates that the western zone has 33% of the total occupied space in the city implying a large proportion of employment opportunities here. The central zone contributes to 30% of employment.

Connectivity
Mumbai has several major national highways: National Highway 3, National Highway 4, National Highway 8, National Highway 17 and National Highway 222. The Mumbai-Pune Expressway was the first expressway built in India. There are several important highways such as Mumbai Nashik Expressway, Mumbai-Vadodara Expressway, Western Freeway and Eastern Freeway under construction. The Bandra-Worli Sea Link bridge and Mahim Causeway link the island city to the western suburbs. The three major arterial roads of the city are the Eastern Express Highway, the Sion Panvel Expressway and the Western Express Highway.
Mumbai is the headquarters of two of Indian Railways zones: the Central Railway (CR) and the Western Railway (WR). Mumbai is also well connected to most parts of India by the Indian Railways. Long-distance trains originate from Chhatrapati Shivaji Terminus, Dadar, Lokmanya Tilak Terminus, Mumbai Central, Bandra Terminus, Andheriand Borivali.
Public transport systems in Mumbai include the Mumbai Suburban Railway, Brihanmumbai Electric Supply and Transport (BEST) buses, taxis, auto rickshaws and ferries. Suburban railway and BEST bus services together accounted for about 88% of the passenger traffic in 2008.
The Mumbai Suburban Railway, popularly known as ‘local trains’ forms the backbone of Mumbai’s transport system. Mumbai’s suburban rail systems carry more than half of the Indian Railways daily carrying capacity. Trains are overcrowded during peak hours. The Mumbai rail network is spread at an expanse of 319 route kilometres and is growing. The Mumbai Monorail and Mumbai Metro are under construction and expected to be partially operational in 2014, relieving overcrowding on the existing network.
Public buses run by BEST cover almost all parts of the city as well as parts of Navi Mumbai, Mira-Bhayandar and Thane. Maharashtra State Road Transport Corporation (MSRTC) buses provide intercity transport from Mumbai to other major cities of Maharashtra and India. Navi Mumbai Municipal Transport (NMMT) also operates its Volvo buses from Navi Mumbai to Bandra, Dindoshi and Borivali.
The Chhatrapati Shivaji International Airport is the busiest airport in India in terms of passenger traffic. An upgrade plan was initiated in 2006, targeted at increasing the capacity of the airport to handle up to 40 million passengers annually. The proposed Navi Mumbai International Airport to be built in the Kopra-Panvel area has been sanctioned by the Indian Government and will help in relieving traffic burden on the existing airport.
Mumbai has two major ports, Mumbai Port Trust and Jawaharlal Nehru Port Trust, which lies in Navi Mumbai. Mumbai Port has one of the best natural harbours in the world. Jawaharlal Nehru Port is the busiest and most modern major port in India.

All Localities in Mumbai

LOCALITY, Aarey Road, Agripada, Altamount Road, Amboli, Andheri East, Andheri West, Anushakti Nagar, Azad Nagar, Bandra East, Bandra West, Bangur Nagar, Behram Baug, Bhandup East, Bhandup West, Bhayandar East, Bhayandar West, Bhiwandi, Bhuleshwar, Boisar, Borivali East, Borivali West, Breach Candy, Byculla East, Byculla West, C.P. Tank, Chakala, Chandivali, Charkop, Charni Road, Chembur, Chinchpokli, Chira Bazar, Chuna Bhatti, Church Gate, Colaba, Cuffe Parade, Cumballa Hill, Currey Road, Dadar East, Dadar West, Dahanu Road, Dahisar East, Dahisar West, Deonar, Dharavi, Dombivli West, Dongri, Elphinstone Road, Fort, G T B Nagar, Gamdevi, Gandhi Nagar, Ghatkopar East, Ghatkopar West, Girgaon, Golibar, Goregaon East, Goregaon West, Govandi, Grant Road East, Grant Road West, Haji Ali, J B Nagar, Jacob Circle, Jogeshwari East, Juhu, Juhu Tara Road, Kalbadevi, Kalina, Kandivali East, Kandivali West, Kanjurmarg, Kashimira, Kemps Corner, Khan Abdul Gafar Road, Khar East, LOCALITY, Khar West, Kharodi, Khetwadi, Kurla East, LBS Marg, Lal Baug, Kurla West, Link Road, Linking Road, Lokhandwala, Lower Parel, Mahalaxmi, Senapati Bapat Marg, Malad East, Malad West, Mandapeshwar, Mankhurd, Marine Lines, Marol, Masjid Bunder, Matunga East, Matunga West, Mazgaon, Mira Bhayandar, Mira Road, Mulund East, Mulund West, Mumbai Central, Nahur East, Naigaon East, Naigaon West, Nalasopara East, Nalasopara West, Nariman Point, Navghar Road, Nehru Nagar, Nehru Road, Mandvi, Opera House, Orlem Malad, Oshiwara, Pali Hill, Parel, Peddar Road, Poonam Nagar, Powai, Prabhadevi, Pydhonie, Raigad, S V Road, Sakinaka, Santacruz East, Santacruz West, Sewri, Shastri Nagar, Shivaji Park, Sion East, Sion West, Tardeo, Thakurdwar, Tilak Nagar, Trombay, Tulsiwadi, Vakola, Veera Desai Road, Versova, Vidya Nagari, Vidyavihar, Vijay Nagar, Vikhroli East, Vikhroli West, Vile Parle East, Vile Parle West, Virar East, Virar West, Wadala East, LOCALITY, Wadala West, Walkeshwar, Warden Road, Western Express Highway, Worli, Yari Road, Jogeshwari West, Kalyan West, Karjat, Kasara, Upper Parel, Vasai West, Vasai East, Vikramgad, Mumbai – Nasik Highway, Ambivali, Sahar, Madh, Triveni Nagar, Prabhu Ali, Chinchpada, Bhadane, Neral, Nahur West, Samat Nagar, Sarvodaya Nagar, MHADA Colony, Chedda Nagar, Shivaji Nagar, Beverly Park, Naya Nagar, Govind Nagar, Yogi Jawraj Nagar, IC Colony, Kanti Park, Dindoshi, Evershine Nagar, Chikuwadi, Malvani, Royal Palms, Gokuldam, Narayan Patil Wadi, Upper Worli, Umerkhadi, Nagpada, Ramnagar, Alibag, Gulmohar Road, Murbad Road, Titwala, Khadakpada, Kanakia Road, Saralgoan, Ambernath, Khandas Road, Malabar Hill, Ulhasnagar, Saravali, Palghar, Jawhar, Khandale, Bandra Kurla Complex, Andheri-Kurla Road, Mahavir Nagar, V P ROAD, Kolad, Vitthalwadi, Vasai Road, Carter Road, Murbad, Shahapur, Badlapur East, Ghera Sudhagad, Mahad, Lonere, Roha, LOCALITY, Uttan, Vasai-Nallasopara Link Road, Harihareshwar, Kalyan East, Murbad Karjat Road, Shahad, Badlapur West, Kalher, Dahanu, Bhivpuri, Atgaon, Kalyan-Shil Road, Dombivli East, Gaibi Nagar, Agashi, Thakurli, Navapada, Sir JJ Road, Vangani, Murud, Pali, Gorai, Talasari, Nagothane, Khardi, Kamatghar, Mahim, Khodala, Manori, Antop Hill, Mulund Colony, LBS Marg-Mulund, Kanjurmarg East, Kannamwar Nagar, Panth Nagar, barve Nagar, chirag Nagar, vidyavihar West, vidyavihar East, postal Colony, Jai Ambe Nagar, Sindhi Society, Borla, Ghatla, chembur Colony, Sahakar Nagar, kidwai Nagar, sewri West, Ambernath East, Ambernath West, Manor, Vehloli, Vindhane, Boraj, Umroli, Nagaon, Dohole, Shelu, Sakawar, Gokuldham Colony, Magathane, Ghodbunder, Netaji Nagar, Best Nagar, Kajupada, Dhamote, Kharbao, Anand park, Kopargaon, Matunga, Govandi East, Hariyali, Tungareshwar, Tagore Nagar

 

BTL marketing, BTL marketing Supplier, BTL marketing Supplier , BTL marketing Supplier Malvani mumbai,Malvani,mumbai

Door to Door Marketing Strategy, Door to Door Marketing Plan

btl marketing Supplier | Product marketing Staff wardha

Fulcrum Marketing is a creative promotions marketing agency with over 10 years’ combined experience in the FMCG, Insurance, Automotive, Banking, Telecoms, White Goods and Retail sectors.

We create innovative marketing strategies using free-to-consumer rewards that engage and excite – whether that’s tactical promotional activity to boost acquisition or retention or long-term loyalty and engagement programmes.

We offer the widest range of established promotional offers, together with the skills and experience necessary to produce a bespoke solution to drive sales and offer great ROI, whilst using our own loyalty and reward platforms gives us a competitive edge in terms of both costings and response time.

MARKETING SOLUTIONS THAT LOCK BRANDS & CONSUMERS TOGETHER

Fulcrum Marketing is a creative promotions marketing agency where consumer incentive ideas fill our hearts, minds and souls.

We love thinking, learning and driving innovative campaigns for your brand.

We love a challenge.

MARKETING SOLUTIONS THAT LOCK CONSUMERS & BRANDS TOGETHER

Fulcrum Marketing was founded in 2007 to offer innovative marketing strategies that engage and excite consumers. At FulcrumMarketing we understand it is difficult for brands to get stand-out and engage with consumers on an emotional level.

Our role is to continually develop new, innovative promotional solutions that offer high value incentives at a fraction of retail cost. This is as an alternative to heavily discounting.

We offer Marketing solutions that work!

Because we have the widest range of established promotional offers, along with a skilled and experienced team, which is necessary to produce a best marketing solution to drive sales and offer unrivaled ROI.

About Us

Fulcrum is a dynamic, creative agency that partners with leading consumer brands across a spectrum of industries, supporting both their domestic marketing strategies through a wide variety of creative brand solutions and value-added services.

We specialise in developing and delivering engaging solutions for a whole host of global brands, from creative, branded merchandise with inspiring packaging and POS options to tailored print management services.

Our Values

Our growth and continued success is built on core company values such as quality, value, service, passion and innovation.

Our Ethics

Every factory we use is personally assessed by our staff for quality, working conditions and the ethical treatment of workers.

Supply Chain Management

We project manage your product from concept to completion. Relax in the knowledge that your brand is in safe hands.

Accreditations

We are a responsible organisation that implements good processes with a focus on environmental sustainability.

Our Values

Our core values are what guide us as a company and individuals. These values are at the heart of everything we do:

Quality

Deliver excellent standards consistently.

Value

Ensure exceptional value for our customers.

Service

Provide the highest standard of service to our customers.

Innovation

Remain at the forefront of innovation in both design and manufacturing.

Trust

We are the most trusted supplier. The integrity of your brand is in safe hands.

Passion

We are passionate about what we do and strive to exceed customer expectations.

btl marketing Supplier | Product marketing Staff wardha

Marketing

Feet On Street
Door To Door Marketing
Face to Face Marketing
Street Marketing
Field Marketing
Direct To Retailer Sales
Strategic Field Marketing
Marketing Strategy
Trade Marketing
Marketing Team
Sales & merchandising
Shopper  & Retail Marketing 
Direct sales 
Sales promotion
Consumer sales promotions
Trade sales promotions
Promotions team
Handbill distribution
Leaflet distribution
Flyer distribution
Telemarketing
Database Marketing
Direct marketing

Brand Activation

Brand Strategy

Brand Activation
BTL Activation 
In-Shop Activation
Mall & Market Activities
In-shop Activities
Kiosk Activities
Product Launch Activities
Corporate Image Building
Product launches
Product sampling
Rural Area Activities
Free Sampling Activities
Demonstration Activities
Society Activities
Data Collection Activity
Retail Branding 
News Paper leaflet insert
Merchandising
Lead Generation Activities

Stages of Business Buying

Stages of Business Buying

Understanding the stages of business buying is important to a marketing firm if it is to market its product properly.

LEARNING OBJECTIVES

Describe the different stages within the business buying decision process

KEY TAKEAWAYS

Key Points

  • The stages of business buying includes recognizing the problem, developing product specs to solve the problem, searching for possible products, selecting a supplier and ordering the product, and finally evaluating the product and supplier performance.
  • Buying B2B products is risky. Usually, the investment sums are high and purchasing the wrong product or service, the wrong quantity, the wrong quality or agreeing to unfavourable payment terms may put an entire business at risk.
  • Making a riskier investment can yield to high returns. However, there is also a greater chance that they could lose their investment as well. This can be seen in this diagram. Those involved in the decision buying process need to weigh the risks against the expected returns.
  • In order to entice and persuade a consumer to buy a product, marketers try to determine the behavioral process of how a given product is purchased. Understanding the nature of customers’ buying behavior is important to a marketing firm if it is to market its product properly.

Key Terms

  • B2B: Business-to-business (B2B) describes commerce transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer.
  • B2C: The sale of goods and services from individuals or businesses to the end-user.

Stages of the Business Buying Decision Process

The main difference between B2B and B2C is who the buyer of a product or service is. The purchasing process is different in both cases and the following is a list of the stages involved in B2B buying:

Step 1: Recognize the Problem

  • Machine malfunction, firm introduces or modifies a product, etc.

Step 2: Develop product specifications to solve the problem

  • Buying center participants assess problem and need to determine what is necessary to resolve/satisfy it

Step 3: Search for and evaluate possible products and suppliers

  • look in company files and trade directories, contact suppliers for information, solicit proposals from known vendors, examine websites, catalogs, and trade publications
  • conduct a value analysis – an evaluation of each component of a potential purchase; examine quality, design, materials, item reduction/deletion to save costs, etc.
  • conduct vendor analysis – a formal and systematic evaluation of current and potential vendors; focuses on price, quality, delivery service, availability and overall reliability

Step 4: Select product and supplier and order product

  • This step uses the results from Step 3
  • An organization can decide to use several suppliers, called multiple sourcing. Multiple sourcing reduces the possibility of a shortage by strike or bankruptcy.
  • An organization can decide to use one supplier, called sole sourcing. This is often discouraged unless only one supplier exists for the product; however it is fairly common because of the improved communication and stability between buyer and supplier.

Step 5: Evaluate Product and supplier performance

  • Compare products with specs
  • Results become feedback for other stages in future business purchasing decisions

This 5 step process is mainly used with new-task purchases and several stages are used for modified rebuy and straight rebuy.

Understanding the stages of business buying and the nature of customers’ buying behavior is important to a marketing firm if it is to market its product properly. In order to entice and persuade a consumer to buy a product, marketers try to determine the behavioral process of how a given product is purchased.

Risks

Buying one can of soft drink involves little money, and thus little risk. If the decision for a particular brand of soft drink was not right, there are minimal implications. The worst that could happen is that the consumer does not like the taste and discards the drink immediately. Buying B2B products is much riskier. Usually, the investment sums are much higher. Purchasing the wrong product or service, the wrong quantity, the wrong quality or agreeing to unfavourable payment terms may put an entire business at risk. Additionally, the purchasing office / manager may have to justify a purchasing decision. If the decision proves to be harmful to the organization, disciplinary measures may be taken or the person may even face termination of employment.

image

Risk and Return: Less risky investments yield less returns. The riskier the investment, the higher the yield.

Measuring Vendor Performance

Firms can measure vendor quality, service, availability, and overall reliability to determine future engagement with the vendor.

LEARNING OBJECTIVES

Describe the different tactics B2B companies use to search for and evaluate products and supplier performance

KEY TAKEAWAYS

Key Points

  • Supply managers evaluate suppliers utilizing the tools of value assessment and the fundamental value equation. They estimate the benefits and total costs paid to each vendor.
  • Vendors play a role in two steps of the business buying decision process. Steps 3 and 5 both require researching new and current vendors and analyzing various factors to determine if they should be used again.
  • Vendor analysis is a formal, systematic evaluation of current and potential vendors. This focuses on price, quality, service, availability and overall reliability.

Key Terms

  • fundamental value equation: Customer Perceived value of a product is the difference between the prospective customer’s evaluation of all the benefits and all the cost of an offering and the perceived alternatives. Formally, it may be conceptualized as the relationship between the consumer’s perceived benefits in relation to the perceived costs of receiving these benefits. It is often expressed as the equation: Value = Benefits / Cost.

Introduction

Decision makers complete five steps when making a business buying decision:

  1. Recognize the problem
  2. Develop product specifications to solve the problem
  3. Search for and evaluate possible products and suppliers
  4. Select product and supplier and order product
  5. Evaluate product and supplier performance

Vendor performance measurement plays a role in Steps 3 and 5.

Step 3: Search for and Evaluate Possible Products and Suppliers

Step 3 requires searching for and evaluating possible products and suppliers. This can be done in several ways:

  • Looking in company files and trade directories, contacting suppliers for information, soliciting proposals from known vendors, and examining websites, catalogs and trade publications.
  • Performing a value analysis (an evaluation of each component of a potential purchase). This examines the quality, design, and materials, with the intention of finding cost savings opportunities.
  • Performing a vendor analysis (a formal, systematic evaluation of current and potential vendors). This focuses on price, quality, service, availability, and overall reliability.

Step 5: Evaluate Product and Supplier Performance

Step 5 of the business buying decision process involves evaluating product and supplier performance.

Firms need to compare products with specifications. The results become feedback for other stages in future business purchasing decisions. If a firm has any negative issues with a vendor, it is likely they will look for another one.

The business feedback loop includes four steps - sell the improved product, access progress (is it selling?), ask customers if they like the new product, and fix it, improve it, and make changes.

Business Feedback Loop: Firms need to compare products with specifications. The results become feedback for other stages in future business purchasing decisions.

Supplier performance evaluation teams are used to monitor activity and performance data, and to rate vendors. But supplier performance evaluation teams are just one of the many teams companies deploy to address tactical issues.

Supplier certification teams help selected suppliers reach desired levels of quality, reduce costs, and improve service. Specification teams select and write functional, technical, and process requirements for goods and services to be acquired.

Supply managers evaluate suppliers utilizing the tools of value assessment and the fundamental value equation. They estimate the benefits and total costs paid to each vendor. Consistent with supply management orientation, these evaluations can be complemented with the firm’s customer feedback. In this way, supply managers can better focus or redirect the efforts of the entire supply network toward the delivery of superior value to end-users.

Influences on Business Buying

Environmental, organizational, and interpersonal factors all impact the business buying decision process.

LEARNING OBJECTIVES

Give examples of how environmental, organizational, interpersonal, and individual factors influence the business buying decision process

KEY TAKEAWAYS

Key Points

  • The personal characteristics of the people in the buying center can be influential. Age, education level, personality, tenure, and position within the company all play a role in how a person will influence the buying process.
  • The company’s objectives, purchasing policies and resources can influence the buying process.
  • Firms can suffer from strategic inertia, the automatic continuation of strategies unresponsive to changing market conditions.

Key Terms

  • Buying Center: A group of employees, family members, or members of any type of organization responsible for finalizing major purchase decisions.

Influences on Business Buying

Four main influences impact the business buying decision process: environmental factors, organizational factors, interpersonal factors, and individual factors.

Environmental Factors

Competitive conditions may enable a company’s short-term success, where the organization is able to operate irrespective of customer desires, suppliers, or other organizations in their market environment. Early entrants into emerging industries are likely to be internally focused due to few competitors. During these formative years, customer demand for new products will likely outstrips supply, while production problems and resource constraints represent more immediate threats to the survival of new businesses.

Nevertheless, as industries grow, these sectors become more competitive. New entrants are attracted to potential growth opportunities, and existing producers attempt to differentiate themselves through improved products and more efficient production processes. As a result, industry capacity often grows faster than demand and the environment shifts from a seller’s market to a buyer’s market. Firms respond to changes with aggressive promotional techniques such as advertising or price reductions to maintain market share and stabilize unit costs.

Different levels of economic development across industries or countries may favor different business philosophies. For example:

  • Certain environmental and economic factors can lead to an apprehensive buying center.
  • Firms can suffer from strategic inertia, or the automatic continuation of strategies unresponsive to changing market conditions.

Organizations that fall victim to strategic inertia believe that one way is the best way to satisfy their customers. Such strategic inertia is dangerous since customer needs as well as competitive offerings eventually change over time.

For example, IBM’s traditional focus on large organizational customers caused the company to devote too little effort to the much faster-growing segment of small technology start-ups. Meanwhile, IBM’s emphasis on computer technology and hardware like the IBM cell processor made the company slow to respond to the explosive growth in demand for Internet-based applications and services. Thus, in environments where such changes happen frequently, the strategic planning process needs to be ongoing and adaptive. All business participants, whether from marketing or other functional departments, must pay close attention to customer preferences and competitor activities.

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IBM Cell Processor: IBM traditionally focused on large organizational customers. It did not put enough effort into small technology start-ups, which grew at a faster pace.

Organizational Factors

Organizational factors such as the company’s objectives, purchasing policies, and resources can influence the buying process.The size and composition of the buying center also plays a role in the business buying decision process.

Interpersonal Factors

The interpersonal relationships between people working in the company’s buying center can hinder the buying process. Buying center members need to trust each other and operate under full disclosure.

Individual Factors

The personal characteristics of people in the buying center can influence the buying decision process. Individual factors including age, education level, personality, job tenure, and position within the company all play a role in how a person influences the buying process.

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