B2B Marketing

This course is part of the "International Business" module, which is compulsory for International Management & Engineering (M.Sc.) and Global Technology and Innovation Management & Entrepreneurship (GTIME Joint Master-Programme) students. It is also part of the "Marketing and Communication" module, compulsory elective for Mechanical Engineering & Management (M.Sc.) students. The course is held during the winter semester (WiSe).

Language: English

Contact person: Francisco Carrillo

Credits:

• 2 ECTS course within module “International Business” (6 ECTS)
• 2 ECTS course within module “Marketing and Communication” (6 ECTS)

Structure: Weekly lectures

Examination: Written final exam

Course Description:

Business-to-business (B2B) markets play an important role in most economies. At the same time, B2B markets differ strongly from consumer goods markets. For example, companies’ buying decisions follow different rules than those of consuming individuals. Consequently, marketing mix decisions in B2B markets need to follow the specific circumstances in such markets. The aim of this lecture is to enable students to understand the specifics of marketing in B2B markets.

Why This Course is Essential:

B2B marketing students learn which strategic marketing decisions may be most appropriate in industrial markets. Following that, the lecture will focus more on different options to design marketing mix elements – Pricing, Communication and Distribution – in B2B markets. We extend the student’s basic knowhow in marketing and focus on the specific requirements in B2B markets.

Content:

The following key topics will be explored throughout the course:

• The importance, specific characteristics and developments of B2B markets today.
• Organizational buying behavior and the corporate buying process.
• B2B marketing strategies regarding modes and time of market entry with focus on innovative industrial products.
• Types of project-related cooperation in the B2B project business.
• Specific operational marketing methods in communication (success factors of fares and exhibitions, importance of public relations for B2B markets); pricing (measuring willingness-to-pay via auctions; value-based pricing in industrial markets, bidding models and auctioning); distribution and channel strategies for B2B markets.
• Marketing in complex value chains: Solving the problem of direct customers’ unwillingness to adopt innovative products by directly addressing indirect customers.

What You Will Learn and Get:

By the end of this course students will develop a thorough understanding of:

• How organizations and firms buy.
• How marketing can be performed in complex value chains.
• Promising market and competitive strategies in B2B markets.
• Modes of cooperation in B2B markets.
• Marketing-mix decisions in B2B marketing (communication, pricing, distribution).

Skills:

• Analyzing the advantages and disadvantages of different target market, market entry, timing and allocation strategies.
• Identifying and systematically address relevant partners when selling to business organizations.
• Developing context-specific market-entry and timing strategies.
• Making appropriate decisions for the pricing and communication of industrial products.
• Applying the theoretical knowledge to business cases or real examples.

Social Competence:

• The students will be able to having fruitful professional discussions.
• Presenting and defending the results of their work in groupwork.
• Self-reliance acquiring knowledge in the specific context independently and to map this knowledge onto other new complex problem fields.