Business-to-business (B2B) markets play an important role in most economies. At the same time, B2B markets differ strongly from consumer goods markets. For example, companies’ buying decisions follow different rules than those of consuming individuals. Consequently, marketing mix decisions in B2B markets need to follow the specific circumstances in such markets.

The aim of this lecture is to enable students to understand the specifics of marketing in B2B markets. At the beginning, students learn which strategic marketing decisions may be most appropriate in industrial markets. Following that, the lecture will focus more on different options to design marketing mix elements - Pricing, Communication and Distribution - in B2B markets. We extend the student’s basic knowhow in marketing and focus on the specific requirements in B2B markets.

• The importance, specific characteristics and developments of B2B markets today
• Organizational buying behavior and the corporate buying process
• B2B marketing strategies regarding modes and time of market entry with focus on innovative industrial products
• Types of project-related cooperation in the B2B project business
• Specific operational marketing methods in communication (success factors of fares and exhibitions, importance of public relations for B2B markets); pricing (measuring willingness-to-pay via auctions; value-based pricing in industrial markets, bidding models and auctioning); distribution and channel strategies for B2B markets
• Marketing in complex value chains: Solving the problem of direct customers’ unwillingness to adopt innovative products by directly addressing indirect customers
  
  

Knowledge

The students will develop a thorough understanding of:

• How organizations and firms buy
• How marketing can be performed in complex value chains
• Promising market and competitive strategies in B2B markets
• Modes of cooperation in B2B markets
• Marketing-Mix decisions in B2B marketing (communication, pricing, distribution)

Skills

• analyzing the advantages and disadvantages of different target market, market entry, timing and allocation strategies;
• identifying and systematically address relevant partners when selling to business organizations;
• developing context-specific market-entry and timing strategies;
• making appropriate decisions for the pricing and communication of industrial products;
• applying the theoretical knowledge to business cases or real examples

Social Competence

The students will be able to

• having fruitful professional discussions;
• presenting and defending the results of their work in groupwork;

Self-reliance

• acquiring knowledge in the specific context independently and to map this knowledge onto other new complex problem fields.

Assessment

Written examination & Class participation in interactive elements (presentations, homework)