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Understanding B2B Marketing
In its most basic form, value can be explained by the following formula: Value = Benefits – Costs. As such, value can be pushed higher by increasing benefits, decreasing cost, or a combination of the two. Often, marketers strive to convey product benefits so that customers perceive that there costs are justified. Although the importance of perceived value has garnered considerable attention and managerial interest, guidance on which course of action to follow has been limited. Based on your readings for this week, consider the following:
? Select a good or service geared toward the B2B market, and examine the various ways in which perceived value can be increased from the customer’s perspective. How would you convince key stakeholders to take these measures?
? If you had to present your ideas about increasing percieved value to a group of key stakeholders, how would you organize your presentation, and what presentation techniques would you employ? Think about a professional presentation that was particularly effective or that spurred several questions. What strategies would you implement to receive and address critical feedback? Share any lessons learned from prior work, life, or seminar presentations that would help you effectively present your redesign and gain buy-in.
? Do contextual factors (product type, competitive atmosphere, etc.) exist that can influence the customer’s actions? The marketer’s actions?
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