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Managing Business Marketing and Sales 1st Edition Per
V. Jenster Digital Instant Download
Author(s): Per V. Jenster; H. Michael Hayes; David E. Smith
ISBN(s): 9788763099677, 8763099675
Edition: 1
File Details: PDF, 1.21 MB
Year: 2005
Language: english
Managing Business Marketing & Sales
 Per V. Jenster, H. Michael Hayes & David E. Smith

Managing Business Marketing & Sales

An International Perspective

Copenhagen Business School Press

Managing Business Marketing & Sales
An International Perspective

© Copenhagen Business School Press

Printed in Denmark by Holbæk Amts Bogtrykkeri
Cover design by Morten Højmark
1. edition 2005

e-ISBN 978-87-630-9967-7

Distribution:

Scandinavia
DBK, Mimersvej 4
DK-4600 Køge, Denmark
Phone: +45 3269 7788, fax: +45 3269 7789

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E-mail: [email protected]

All rights reserved. No part of this publication may be reproduced or used in any form
or by any means - graphic, electronic or mechanical including photocopying, recording,
taping or information storage or retrieval systems - without permission in writing from
Copenhagen Business School Press at www.cbspress.dk
 Table of Contents

Preface ................................................................................................. ix
Our Objectives for the Book............................................................. ix
The Scope of the Book ...................................................................... x
The Context of Business Marketing.................................................. x
Features of the Book........................................................................ xii
Acknowledgements ......................................................................... xii
Chapter 1: An Overview of Business Marketing.............................. 1
The Nature of Business Marketing.................................................... 1
Business Marketing Strategy............................................................. 2
Business Markets............................................................................... 2
Business Products and Services......................................................... 6
The Approach of the Book ................................................................ 8
Summary............................................................................................ 9
Further Reading ............................................................................... 10
Chapter 2: Marketing Strategy and Planning ................................ 11
Key Strategy Concepts .................................................................... 12
Strategic Planning............................................................................ 13
Strategy at Three Levels.................................................................. 14
Corporate Strategy........................................................................... 16
The Growth-Share Matrix ............................................................... 16
Investment Priority Matrix .............................................................. 20
Business Strategy............................................................................. 23
Marketing Strategy .......................................................................... 28
Summary.......................................................................................... 34
Further Reading ............................................................................... 34
Chapter 3: How Organizations Buy ................................................ 37
Buyer Behavior: An Overview........................................................ 37
Buyer Behavior: Analytical Frameworks........................................ 52
Implications for Marketing.............................................................. 56
Summary.......................................................................................... 56
Further Reading ............................................................................... 56
Chapter 4: Strategic Analysis of an Industry ................................. 59
Industry Analysis............................................................................. 60
Approaches to Industry Analysis..................................................... 62
Conducting the Analysis.................................................................. 68
Summary.......................................................................................... 73
Further Reading ............................................................................... 74
v
 Table of Contents
Chapter 5: Business Marketing Intelligence:
Analysis and Tools ............................................................................. 77
Intelligence and Information ........................................................... 77
Types of Marketing Intelligence ..................................................... 92
Intelligence Sources......................................................................... 97
Establishing an Intelligence and Information System..................... 97
Organizing Intelligence Work ....................................................... 102
Demand Analysis........................................................................... 104
Summary........................................................................................ 114
Further Reading: ............................................................................ 114
Chapter 6: Selecting Business Markets ......................................... 119
An Overview of Business Market Selection ................................. 119
The Search for Business Market Segments................................... 122
Segmentation Approaches ............................................................. 123
Additional Issues in Segmentation ................................................ 129
Summary........................................................................................ 133
Further Reading ............................................................................. 134
Chapter 7: Business Product Management................................... 137
The Concept of Product................................................................. 137
The Product Line ........................................................................... 139
Buyer-Seller Relations: A Key Contextual Element..................... 141
The Role of Quality ....................................................................... 142
Product/Market Choices ................................................................ 143
Global Considerations ................................................................... 145
New Product Development............................................................ 147
Positioning ..................................................................................... 153
Branding ........................................................................................ 155
Summary........................................................................................ 158
Further Reading ............................................................................. 158
Chapter 8: Marketing of Services .................................................. 163
Specific Characteristics of Business Services ............................... 163
Marketing Implications of Services Characteristics...................... 165
Productizing Services .................................................................... 168
Digitizing Services ........................................................................ 171
After the Sale ................................................................................. 171
Summary........................................................................................ 173
Further Reading ............................................................................. 173
Chapter 9: Pricing Strategy for Business Markets ...................... 175
The Economists’ View of Price..................................................... 175
The Marketer’s View of Price ....................................................... 176
The Firm’s Costs ........................................................................... 178
The Firm’s Customers ................................................................... 180
The Firm’s Competitors ................................................................ 181

vi
 Table of Contents
Pricing Situations........................................................................... 183
Demand Concepts.......................................................................... 187
Value/Quality/Price Relationships ................................................ 189
Pricing the Product Line................................................................ 190
Pricing when Distributors are Involved......................................... 192
Special Issues................................................................................. 194
Summary........................................................................................ 200
Further Reading ............................................................................. 201
Chapter 10: E-Business Marketing................................................ 203
Electronic Communications and Applications .............................. 204
The Business Marketing Implications of E-Business ................... 206
Pricing Implication ........................................................................ 207
Developments of E-Business......................................................... 214
Summary........................................................................................ 214
Further Reading ............................................................................. 215
Chapter 11: Business Marketing Communication:
Personal Selling................................................................................ 217
An Overview of Communication .................................................. 217
The Methods of Business Communication ................................... 218
The Role of the Salesperson .......................................................... 222
Understanding the Selling Situation.............................................. 227
Personal Interaction Between Salesperson and Buyer .................. 231
Managing the Sales Force ............................................................. 232
Special Issues................................................................................. 236
Summary........................................................................................ 240
Further Reading ............................................................................. 241
Chapter 12: Business Marketing Communications:
Beyond Personal Selling.................................................................. 245
Supplementing Personal Selling.................................................... 245
Direct Marketing............................................................................ 246
Advertising .................................................................................... 249
Sales Promotion............................................................................. 251
Public Relations............................................................................. 255
The Cost of Communication ......................................................... 256
Summary........................................................................................ 257
Further Reading ............................................................................. 258
Chapter 13: Managing Business Marketing Channels ................ 261
Issues in Distribution Management ............................................... 261
Types of Business Distribution Channel Members....................... 262
The Changing Environment of Business Distribution .................. 269
Developing a Channel Structure.................................................... 273
Summary........................................................................................ 284
Further Reading ............................................................................. 285

vii
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Lesson 1: Ethical considerations and implications

Learning Objective 1: Historical development and evolution
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- Sub-point: Additional details and explanations
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Formula: [Mathematical expression or equation]
Learning Objective 2: Statistical analysis and interpretation
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- Sub-point: Additional details and explanations
- Example: Practical application scenario
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Formula: [Mathematical expression or equation]
Learning Objective 5: Experimental procedures and results
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- Sub-point: Additional details and explanations
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[Figure 5: Diagram/Chart/Graph]
Definition: Critical analysis and evaluation
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Learning outcomes and objectives
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Historical development and evolution
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Case studies and real-world applications
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Example 9: Key terms and definitions
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 10: Diagram/Chart/Graph]
Conclusion 2: Best practices and recommendations
Important: Case studies and real-world applications
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Statistical analysis and interpretation
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 12: Comparative analysis and synthesis
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 13: Learning outcomes and objectives
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Literature review and discussion
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 15: Ethical considerations and implications
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 16: Best practices and recommendations
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- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 17: Literature review and discussion
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- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 18: Diagram/Chart/Graph]
Example 18: Key terms and definitions
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Fundamental concepts and principles
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Review 3: Problem-solving strategies and techniques
Practice Problem 20: Ethical considerations and implications
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 21: Ethical considerations and implications
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- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 22: Diagram/Chart/Graph]
Example 22: Case studies and real-world applications
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Note: Problem-solving strategies and techniques
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Problem-solving strategies and techniques
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Current trends and future directions
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 26: Experimental procedures and results
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Learning outcomes and objectives
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Current trends and future directions
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Interdisciplinary approaches
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
References 4: Historical development and evolution
Remember: Study tips and learning strategies
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 31: Diagram/Chart/Graph]
Example 31: Current trends and future directions
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 32: Current trends and future directions
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Ethical considerations and implications
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Key Concept: Historical development and evolution
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Current trends and future directions
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Critical analysis and evaluation
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Research findings and conclusions
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Note: Practical applications and examples
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Key terms and definitions
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Introduction 5: Assessment criteria and rubrics
Key Concept: Ethical considerations and implications
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 41: Diagram/Chart/Graph]
Remember: Practical applications and examples
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 42: Diagram/Chart/Graph]
Note: Problem-solving strategies and techniques
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 43: Case studies and real-world applications
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 44: Critical analysis and evaluation
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Remember: Key terms and definitions
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 46: Study tips and learning strategies
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Key Concept: Comparative analysis and synthesis
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Key Concept: Theoretical framework and methodology
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 50: Diagram/Chart/Graph]
Background 6: Literature review and discussion
Note: Problem-solving strategies and techniques
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Statistical analysis and interpretation
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Practical applications and examples
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 53: Diagram/Chart/Graph]
Definition: Comparative analysis and synthesis
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 54: Theoretical framework and methodology
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 55: Interdisciplinary approaches
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Critical analysis and evaluation
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 57: Diagram/Chart/Graph]
Practice Problem 57: Current trends and future directions
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
[Figure 58: Diagram/Chart/Graph]
Remember: Research findings and conclusions
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Practical applications and examples
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Conclusion 7: Ethical considerations and implications
Example 60: Experimental procedures and results
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Research findings and conclusions
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 62: Literature review and discussion
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Example 63: Assessment criteria and rubrics
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Experimental procedures and results
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Current trends and future directions
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
[Figure 66: Diagram/Chart/Graph]
Definition: Critical analysis and evaluation
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Practical applications and examples
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Comparative analysis and synthesis
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- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Remember: Problem-solving strategies and techniques
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Results 8: Interdisciplinary approaches
Definition: Problem-solving strategies and techniques
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Critical analysis and evaluation
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 72: Diagram/Chart/Graph]
Remember: Current trends and future directions
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Example 73: Comparative analysis and synthesis
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 74: Literature review and discussion
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Case studies and real-world applications
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Example 76: Literature review and discussion
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Practical applications and examples
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 78: Diagram/Chart/Graph]
Key Concept: Interdisciplinary approaches
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 79: Diagram/Chart/Graph]
Practice Problem 79: Learning outcomes and objectives
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Lesson 9: Assessment criteria and rubrics
Key Concept: Fundamental concepts and principles
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Example 81: Historical development and evolution
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Study tips and learning strategies
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Research findings and conclusions
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Important: Theoretical framework and methodology
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
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