Upload
hilary-stephens
View
215
Download
0
Tags:
Embed Size (px)
Citation preview
QUESTION 1
What is the precise market / segment of the market in which the new product promises the greatest benefit to the users?
Special nuts & bolts, silk, ink, e-waste recycle unit etc……..
QUESTION 2
How much effort will be needed to generate an acceptable revenue and how much will it cost?
Break even analysis…
QUESTION 3 How much new investment must customer
make in order to use the new product? New desktops in the organizations New banking software Energy savers AUTO GAS Kits Water harvesting systems Solar panels
QUESTION 4 How much change must the customer make in
their present set up, techniques & routines to use the new product?
Training to use the product – Banking Software e.g. Finnone in Banks
Space Allocation for new machines—e.g…Hospitals Replacement of existing equipments – Office equipments
like Typewriters, Printers, Computers, Fans, Single Unit ACs etc…
Timings – Wireless Internet cards can help employees Work from Home in various Companies
Manpower - Use of Specialized Machines or Software OR manpower getting redundant due to Technology products like Diamond Cutting & Polishing Laser machines
QUESTION 5 How your customer will get the required technical &
application skills needed to use the product? Online training manual Tech support – IT Resources in Organizations User friendly procedures One time training-All white goods & electronics items Regular updates….software industry largely based on
regular updates, Use of Lubricants in industrial machines at regular intervals, Professional
Consultancy- Legal Procedures, Tax implications etc..
QUESTION 6
How many people in the customer’s firm must be convinced before a sale can take place and how hard are they to reach?
Buyer Roles……
QUESTION 7 How solid are the relations between a
typical customer and its regular supplier?
Types of buying situations………e.g. Hotel Industry Yearly Contracts / AMC contracts
Strong Gatekeepers in Industry Middlemen without whom the deals
can’t get thru
QUESTION 8 What buying motivation can we offer the
customers? Reduction in cost – Electricity Bills by switching to
different providers, Use of PPC Cement in Buildings Increased attractiveness of the end product- Fuel
Efficient car engines, Less noisy AC compressors Increased volume of end product - Possible increase in profit- Less Lubricants in servicing ,
Lesser Manpower Expense like Diamond Industry Possible increase in the price of end product for your
customer – Computers with latest technology equipments
QUESTION 9
What are the Risks associated with the product for the customer?
If fails to add value or a flop story?e.g….All types of Industrial Goods as
well as Industrial Services
QUESTION 10
How fast the information provided by us can flow inside a typical customer firm?
Technical terms, benefits & applications etc………..e.g. …new products in life insurance and home loans….the requisite knowledge needs to be percolated to the front line sales as soon as the promotion starts as customer expects fully equipped
Sales force for the new offerings. Pharmacy products knowledge for MRs & Sales Guys
QUESTION 11
Are there any built in road blocks to try/adopt a new product ?
e.g. IT Implementation in GE ( Ref Straight from the Guts by Jack Welch)………DYB.COM & GYB.COM
e.G Bombay Dyeing CASE – Very Late implementation of IT
Group TASK
Plan a New Product of your choice answering the required questions in detail.
A group will consist of 5 students
What's driving growth in B2B Marketing? First is the technological revolution. Technology is changing at an
unprecedented pace, and these changes are speeding up the pace of new product and service development.
e.g…..Medical Stream, Communication, work@home businesses, Global Businesses…….etc…..
What's driving growth in B2B Marketing?
Second is the entrepreneurial revolution.
To stay competitive, many companies have downsized and reinvented themselves which is a big boost to Entrepreneurship/SME segment. ..e.g. Outsourcing…………Growth of SME segment..Micro, Small & Medium…
What's driving growth in B2B Marketing? The cookie-cutter approach is
out & companies are customizing marketing programs to individual accounts.
Companies are looking beyond traditional assumptions and adopting new frameworks, theories, models and concepts.
Advertising Advertising often takes a back seat in B2B promotion
mix….e.g. Cement, switchgears, Channel Partners…. Advertising serves the following purposes in B2B promotion
mix.1. 1. Establishing Recognitione.g.….a dealer of readymade garments brand can push his deals
to retailers 1. 2. Salesmen Support – e.g. Easy accessibility to clients like in case of MRs visiting
Doctors 3. Strengthening Attitudes 4. Leads to Action
Personal Selling Most important & effective tool of
B2B Promotion mix Important parameter is
Negotiations which depends Largely on the following factors-
1. Knowledge about Products-Self as well as competitors
2. Relationships with Customers.
Objectives of Trade shows Meeting potential customers- exporters Building Prospects list- MCHI exhibition Building goodwill Launching new products - Demonstrating non portable products – heavy
machines, Gym goods, Furniture, Tele Brands Attracting new dealers/partners- Nehru Centre
Franchise Expo Meeting & understanding competition
Objectives of Catalogs
Information about Specifications Produce Orders Develop Recognition Generate inquiries Stimulate Invitations for Bids
Media Choice-B2B Marketing Sample Budget Allocation Business Publications------------ 30-40% Catalogs –--------------------------15-20% Trade Shows & Exhibitions----- 10-15% Direct Mailers – ------------------- 5-10% Distributor & Dealer Material –- 5% General Magazines – ------------ 5% Public Relations Activities- ----- 3% Directories –------------------------2% Newspapers –--------------------- 2% TV/Radio- -------------------------- 1% Others –-----------------------------2%