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Business Marketing - Part II: Foundations for Creating Value

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5-1

Part Two

Foundations for
Creating Value

McGraw-Hill/Irwin
Business Marketing, 4/e

Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.

5-2

Part Two
Foundations for Creating Value

• Chapter 5

• Market Opportunities

• Chapter 6

• Marketing Strategy

• Chapter 7

• Weaving Marketing into the Fabric of the Firm

McGraw-Hill/Irwin
Business Marketing, 4/e

Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.

5-3

Chapter 5
Market Opportunities:
Current and Potential Customers

McGraw-Hill/Irwin
Business Marketing, 4/e

Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.

5-4

Finding Business to Business Opportunities
DEVELOP MARKETS
AMONG CURRENT
CUSTOMERS

FIND OPPORTUNITIES
WITH EXISTING
CUSTOMERS

NEW MARKET
OPPORTUNITIES
ACQUIRE
NEW
CUSTOMERS
McGraw-Hill/Irwin
Business Marketing, 4/e

DEVELOP
A RESEARCH
PROGRAM
Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.

5-5

DEVELOP MARKETS
AMONG CURRENT CUSTOMERS
FOUR STEP PROCESS
1.

RANK YOUR BEST CUSTOMERS

2.

MAXIMIZE REVENUES THROUGH
COLLABORATION EFFORTS

3.

DEVELOP SPECIFIC PRODUCTS FOR EACH
CUSTOMER

4.

LEARN OF SPECIAL NEEDS FROM YOUR
CUSTOMER’S CUSTOMERS

McGraw-Hill/Irwin
Business Marketing, 4/e

Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.

5-6

FIND OPPORTUNITIES WITH
EXISTING CUSTOMERS
FOUR STEP APPROACH
1.

ESTABLISH A FORMAL FEEDBACK PROGRAM
WITH CUSTOMER CONTACT POINTS (SALES,
SUPPORT)

2.

DEVELOP DATABASES

3.

COMPILE DECILE REPORTS

4.

DEVELOP CUSTOMER RESEARCH ASSISTANCE
PROGRAM

McGraw-Hill/Irwin
Business Marketing, 4/e

Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.

5-7

RESEARCHING CUSTOMERS
FIND OUT YOUR CUSTOMER’S NEEDS THROUGH:

1.

FOCUS GROUPS – best for generating ideas and
gaining customer insights

2.

SURVEYS – asking questions by personal interview,
mail, telephone, internet

3.

JOINT DEVELOPMENT AND TESTING – use to
adjust and adapt products after purchase

4.

CUSTOMER VISITS – use on-site meetings for problem
identification

McGraw-Hill/Irwin
Business Marketing, 4/e

Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.

5-8

ACQUIRE NEW CUSTOMERS
1. Calculate your current customer’s lifetime value
(CLV) to serve as yardstick for planning
2. Find customers in a new segment who “look
like” your existing customers
3. Expand int...
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