PowerPoint: Applying Business-to-Business Marketing ConceptsFor the Final Project, you will compile a PowerPoint presentation discussing topics learned in this course. This should minimally include th

MBA 5871, Business -to-Business Marketing 1 Cou rse Learning Outcomes for Unit VI II Upon completion of this unit, students should be able to: 2. Analyze several strategic marketing B2B models. 2.1 Differentiate B2B and B2C strategic marketing models. 2.2 Recognize the importance of global marketing within the B2B world. 2.3 Summarize the ethical implications behind B2B marketing. 3. Examine the importance to developing relationships with customers, suppliers and buyers within the B2B model. 3.1 Examine the importance of CRM within a B2B organization. 5. Describe the guidelines for effective marketing within the B2B sector utilizing the marketing mix. 5.1 Explain the complexities o f the B2B sales cycle in the promotional segment of the marketing mix. 5.2 Analyze how a B2B marketer might use each of the elements of the marketing mix to effectively market their products. 5.3 Within the promotional segment of the marketing mix, explain the imp ortance of e -commerce. Reading Assignment Chapter 15: Marketing Performance Measurement Unit Lesson As with all marketing efforts, performance measurement is absolutely necessary. The idea is to evaluate all the marketing efforts and determine which is the most effective in terms of marketing dollars spent. Furthermore, marketers need to actively review these results with the idea of altering the marketing strategies to increase efficiencies and effectiveness. This is a continuous challenge for market ers as they look to justify the marketing dollars spent to top management within the organization. Hutt (2013) identifies a 6 -step approach to developing a marketing strategy which includes the following:  Financial objectives & growth productivity goals : Begin with a look at the long -term and short -term financial objectives as established by the shareholders.  Customer value proposition : identify the target market and their specific value proposition.  Timeline : Define the agreed upon time -line for results.  Strategic themes and internal processes : This step discusses the general processes that will be completed including operational, customer management, and innovation management.  Resources : Identify human, information, and organizational resources that will be made available to complete the process.  Action plan & funding : This step itemizes the specific tasks that need to be coordinated with the appropriate funding. In looking at the overall marketing performance evaluation, strategic control needs to be exe rcised. Precisely defined, this reviews whether the firm is actually heading in the right direction with respect to reaching the intended results. The marketing audit can be used as a checkpoint of sorts, periodically evaluating the marketing operations wi th respect to both the external as well as internal marketing activities. External would refer to changes in customer characteristics, competition, political/legal regulations, economic conditions, technological advances, and general industry trends that w ould have an impact on the marketing environment. Internal would refer to financials, human resources, management changes, or anything that is UNIT VIII STUDY GUIDE Evaluation & Measurement MBA 5871 , Business -to-Business Marketing 2 UNIT x STUDY GUIDE Title associated with the internal operations of the firm. The marketing audit would comprehensively access these chang es and their overall impact on the organization and specifically, the marketing environment. The marketing performance dashboard is a commonly used evaluation tool used by marketers. Basically, this is an accumulation of metrics that provide the organiza tion with information on the performance of the marketing efforts. These metrics are accumulated by the organization based upon leading indicators that would provide accurate up -to-date information allowing managers to make good decisions for the organizat ion. In putting together the dashboard, the marketing manager must truly understand what they want to measure and ensure that they are collecting the right data. The presentation of the dashboard metrics are usually visual in nature including tables, bar g raphs, pie charts, etc. Figure: 1 Additionally, this tool provides the marketing team with a clear understanding of what is expected of them with respect to performance and provides a broader sense of what is actually going on in the industry. Typical indicators include market share, profit levels by product line, competitive ranking, revenue per sales representative and number of customers to name a few. Many times changes in these indicators aligned with certain advertising campaigns running or other m arketing efforts would provide some level of correlation providing marketers with a sense of what campaigns need to be changed. Besides channel evaluation, marketers can also gauge the level of effectiveness of certain content marketing. Most B2B marketers understand the importance of content marketing from the standpoint of not selling or influencing, but instead, educating the target market. In other words, is the content reaching the primary target market, and is it having an impact on the buying behavio r? MBA 5871 , Business -to-Business Marketing 3 UNIT x STUDY GUIDE Title Evaluation and measurement are becoming increasingly important as corporations look to allocate scarce resources. Mergers, buyouts, and other partnerships are being discussed in everyday news. The management of headcounts, reduction of operating expen ses and efficiencies in running each area of the business is mandatory in order to remain profitable. Both the B2B as well as the B2C organizations of today are faced with these challenges and opportunities. Reference Hutt, M. D., & Speh, T. W. (2013). Business marketing management: B2B (11th ed.). Mason, OH: South - Western. Suggested Reading This study analyzed the importance of creating a consumer -based brand. Christodoulides, G., Cadogan, J., & Veloutsou, C. (2015). Consumer -based brand equity measurement: Lessons learned from an international study. Inter national Marketing review , 32 (3/4), 307 -328. How corportations are being measured in today's ever changing technological socieity. Walsh, G., Beatyy, S. E., & Holloway, B. B. (2015). Measuring client -based corporate reputation in B2B professional services: Scale development and validation. Journal of Services Marketing , 29 (3), 173.