18MBAMM305 Business Marketing syllabus for MBA

Nature of Business Marketing:

Business Marketing Concept, Business vs. Consumer Marketing, Economics of Industrial demand, Types of Industrial Markets, Types of Business Customers, Classifying Industrial Products & Services, Business customers purchase orientations, Organizational Procurement Characteristics, Environment Analysis in Business Marketing.

Organizational Buying Behaviour:

Organizational Buying Process, Types of purchases / buying situations, Buying Centre Concept, Inter Personal Dynamics of Business Buying Behaviour, Roles of Buying centre. The Webster & Wind model of Organizational Buying Behaviour, Ethics in Purchasing. Business Marketing Research: Differences between B2C & B2B Marketing Research, Marketing Research Process, Research Methods.

Market Segmentation:

Segmenting, Targeting and Positioning of Business Market, Value based segmentation, Model for segmenting the organizational Market. Product & Brand Strategy: Developing Product Strategy, Analyzing Industrial Product Life Cycle, Developing Strategies for new and existing products, Branding process & Brand strategy. Business Service Marketing: Special Challenges

Formulating Channel Strategy:

Nature of Business Marketing channels, Intermediaries, Direct and Indirect Channels, Channel Objectives, Channel Design, Managing Channel Members, Selection and Motivation of Channel Members, Channel conflicts, SCM, Logistics Management, Customer Service, Major cost centres of Market Logistics.

Pricing Strategies:

Price Determinants, Factors that Influence the Pricing Strategies, Pricing Methods, concept of learning curves, Pricing Strategies, Pricing Policies, Terms of Payment, Competitive Bidding, Leasing The Promotional Strategies: Communication Objectives, Role of B-2-B Advertising, Sales Promotion in Industrial Markets, Trade shows and Exhibitions.

Management of Sales Force:

Personal Selling, The Selling Process, Key Account Management, Managing the Industrial Sales Force, Organizing and controlling the industrial sales force activity, planning for sales force Deployment, Measuring the Effectiveness of Sales Force, Customer relationship Management Strategies for Business Markets, Ethical Issues. B2B through E-Commerce: Business-to-Business forms of E-Commerce, Models for B2B ecommerce, Marketing strategy for the electronic market place.

PRACTICALCOMPONENTS:

• Visit Industrial Distributor/Dealer and collect all the conceptual information from purchasing to selling of B2B Products (SCM) to Business Customers.
• Visit at least one Industrial / B2B Trade shows or Exhibitions and prepare a report
• Visit to one Original Equipment Manufacturing (OEM) Industry and one Semi-Finished Goods Industry.
• Students are expected to make a SWOT analysis of Industrial products and services of various sectors.

COURSE OUTCOMES:

Student should be able to

1. Describe the nature of business markets and the related concepts.

2. Familiarize the business buying behaviour of industrial customers.

3. Analyze business situations in the context of buyer-seller relationships.

4. Apply concepts of pricing strategies for industrial goods

5. To evaluate the significance of E –Commerce in Business Marketing.

RECOMMENDED BOOKS:

• Industrial Marketing – Robert R Reeder & Reeder; 2nd Edition; Prentice Hall International Publication.
• Business Marketing – Krishna K Havaldar, Latest Edition, Tata McGraw Hill Publication.
• Business Marketing Management – Michael D Hutt, Thomas W Speh, Latest Edition, Cengage Learning Publication.

REFERENCE BOOKS:

• Business Marketing – Frank G Bingham Jr., Latest Edition; Tata McGraw HillPublication.
• Industrial Marketing – Mukherjee H S; Latest Edition; Excel BOOKS Publication.
• Industrial Marketing – PK Ghosh, Latest Edition; Oxford University Press.