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Relationship Strategies for Business Markets Chapter 4 Business M ARKETING MKTG 450

Relationship Strategies for Business Markets Chapter 4 Business M ARKETING MKTG 450 Dr. Irvine Clarke III. Chapter Objectives. To understand… the patterns of buyer-seller relationships in the business market.

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Relationship Strategies for Business Markets Chapter 4 Business M ARKETING MKTG 450

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  1. Relationship Strategies for Business Markets Chapter 4 Business MARKETING MKTG 450 Dr. Irvine Clarke III

  2. Chapter Objectives To understand… • the patterns of buyer-seller relationships in the business market. • the relationship connectors that are used in different types of buyer-seller relationships. • a procedure for designing effective relationship marketing strategies. • the critical determinants of success in managing strategic alliances.

  3. Relationship Marketing • Transactional exchange • Value-added exchange • Collaborative exchange • “business marketers need to develop relationships with customers by learning more about their needs and providing products and services to meet those needs”

  4. Buyer/Seller Connectors • Information exchange • Operation linkages • Legal bonds • Cooperative norms • Supply market conditions (dynamism & availability of alternative) • Characteristics of the buying situation (complexity and importance) • “customers will evaluate suppliers based on expectations”

  5. Relationship Marketing Strategies • Capturing data (use of CRM) • Account selection • Developing account • Un bundle • Augment • Flexibility • Sales and support personnel is critical

  6. How Customers Measure Value • Value-in-use (VIU) • What would you pay for a product compared to an alternative? • Includes acquisition, maintenance, and all usage costs • Target Costing • Determine what customers are willing to pay • Deduct target profit margin • Design product to meet target cost

  7. Strategic Alliances • Supplier and customer have common, long-term strategic goal • Both have trust and commitment • Good for customers that have long-term horizon

  8. Benefits of Strategic Alliances • Access to markets or technology • Economies of scale • Faster entry into new products or markets • Sharing risk

  9. Alliance Management Challenges • Negotiating the Contract • Protecting core assets • Linking systems and structures • Evaluating performance

  10. Questions or Comments? Irvine Clarke III Associate Professor of Marketing James Madison University College of Business Marketing Program MSC 0206, ZSh 643 Harrisonburg, VA 22807 Phone: 540-568-3049 e-mail: CLARKEIX@JMU.EDU Home Page: http://welcome.to/dr.clarke

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