MKG201: Business To Business Marketing
Added on 2020-04-15
16 Pages4004 Words258 Views
Running head: BUSINESS TO BUSINESSBusiness to BusinessName of the Student Name of the University Author Note
1BUSINESS TO BUSINESSTable of Content Introduction......................................................................................................................................2Outlining the target market of the selected B2B product................................................................2Outing the SWOT analysis for the business....................................................................................4Outlining the marketing objectives for the product.........................................................................5Formulating the positioning strategy for this particular product.....................................................6Formulating the product mix...........................................................................................................8Describing the service strategy for this product..............................................................................9Outlining the marketing channels for this product........................................................................10Formulating the pricing strategy for this products........................................................................11Explaining the IMC strategy for this product................................................................................12Outlining the evaluation plan of the marketing plan.....................................................................12References and Bibliography.........................................................................................................15
2BUSINESS TO BUSINESSIntroductionThe following report discusses the business-to-business marketing strategies. Anysuccessful B2B strategies should be geared towards the lead generation. B2B (Business tobusiness) marketing is a marketing of product to business or other organizations for use inproduction of goods, for the purpose of general business operation. The present report focuses onthe B2B marketing of the product called Komatsu excavatorsPC 5500-6 produced byKomatsu Ltd, which is a Japanese multinational firm that manufactures construction, miningand military equipment. The report presents the target market of the selected product. In order tolearn the efficiency of the product a SWOT analysis of the business has been conducted.Likewise, with other strategic management tools each element of B2B marketing has beenpresented and discussed considering the product. Outlining the target market of the selected B2B productKomatsu excavatorsPC 5500-6 is one of the largest excavators, which is costlier than otherexcavators because of its extended features. Moreover, the price is not the only concern in thetarget market, the maintenance cost is another significant factor that buyer has to consider whilepurchasing the product. Geographic segmentation- PC 5500-6 is considered to be placed in the Asia-Pacificnations such as Australia, Singapore, Canada, China, Maldives and some other nations that comeunder Asia Pacific regions. China and Australia are certainly nations with highest economicstability in Asia and because of this economic stability, several large domestic and internationalfirms are running the operation there. Therefore, the focus should be on the large size companies
3BUSINESS TO BUSINESSof construction and mining sector of Australia and China. These markets are apt for the proposedproduct because China and Singapore has the increasing record of successful construction andmining activities (Möller, 2013). Moreover, China and Australia are largely involved in theurban development projects where the construction companies are in the need of such excavatorproduct. Demographic segmentation- Asia Pacific nations are widely involved in the urbandevelopment products due to growing and stable economic position. Many large companies areundertaking the large construction and projects. For example, constriction contributed 37265CNY HML in the third quarter of 2017 from 22326.30 CNY HML, which is certainly asignificant opportunity for Komatsu Ltd to produce product that facilitate constructionoperation in China (Hong et al. 2016). As put forward by Bouchet et al. (2011), increasing involume in the construction sector, which has been the hit on several fronts. This growth in theconstruction fuels up the competition from overseas. Target market- Target market of Komatsu Ltd’s new product is Asia-pacific nationswhere the economic stability is high. Particularly, the firm should focus on the large sizeconstruction and mining firms that undertake long-term projects. Explaining the relationship strategy for the specific target market to develop the business ofKomatsu Excavators Certainly, in order to place and promote the product in the market, the organizationKomatsu Ltd. needs to develop a partnership with another established organization in the targetmarket-Asia Pacific. Komatsu could select a firm from the target market that has wide popularityor increasing market acquisition. For example, Komatsu and Cummins partnership could work
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