B2B Marketing

Prof. Rubina DMello

Market Research

To Truly know customers, the business marketer needs to understand

The Customers Technologies
The customers products The customers markets and customers

The customers competitors

The customers channels The customers buying centre and buying patterns The customers culture

Marketing Research
Marketing research is the systematic, objective and exhaustive research, for the study of the facts relevant to any problem in the field of marketing. Market research is restricted to the study of actual and potential buyers, their location, their actual and potential value of purchases and their motives and habits

Differences between Industrial and Consumer Marketing Research

More reliance on secondary data, exploratory research

and expert opinion Small no. of buyers

Few knowledgeable people

Technical orientation Less marketing research studies

Emphasis on Descriptive method

Differences in survey method

Areas of Survey methods Sample size Industrial research Small sample due to small universe and concentration of buyers More difficult due to time constraint; accessibility is limited to working time Consumers research Large sample due to large universe, and individual or household buyers and geographically dispersed Less difficult to obtain data; accessibility is easier

Respondent cooperation and accessibility Defining respondent

More difficult, as buying Simple, as individuals or decisions are made by several household users are members of buying centre and generally the buyers not by purchase executive

Scope of Industrial Marketing Research

Development of market potential
Market share analysis Sales analysis Forecasting

Competitors analysis
Benchmarking New Product Acceptance and Potential Business Trend studies

Sales Quota determination