Overview
Write a 4 page document detailing the main findings of the research
As you have learned through your work with MCS clients, marketing is one of the most important functional areas in business. As you get oriented with the realities of business-to-business (B2B) marketing, I’d like you to do some more reading on two main elements: (1) business buying behavior, and (2) strategic alliances.
Business buying behavior relates to how business customers and their suppliers explore different avenues to manage relationships and enhance efficiency and effectiveness. Fostering the right relationship with businesses is crucial for any holistic marketing plan. B2B relationships are affected by supply, complexity of supply, availability of alternatives, and supply-market dynamism.
In addition, our new client may consider forming strategic alliances to expand its US operations. The twenty-first century has seen an increased use of long-term global strategic alliances among both producers and distribution companies. Organizations form these alliances in an effort to secure commercial advantage and eliminate waste from their distribution channels. They can be crucial to success
As you will recall from the previous projects, there are two types of market research: primary and secondary research. Both types of research are necessary when creating a marketing plan. As you conduct research for your marketing plan, use the UMGC Library's Research Guides, specifically (1) Business and Management and (2) Marketing. Consult these two research guides and find articles that will help you complete your assignments. It is easier if you conduct a separate search for each section of your marketing plan. Also, use databases, such as Hoover's and ABI/INFORM to research the client company and its industry.
Required Readings
Chapters 1, 3, & 14
Lancaster, G., & Massingham, L. (2018). Essentials of marketing management (2nd ed.). Routledge
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Subject: Company Case File & Questions to Consider
From: Jillian Best, CEO, MCS To: Team Hi again. I wanted to provide you with the company case file and some pertinent questions for you to consider while you work on your B2B marketing plan. As part of the preparation necessary to complete your business-to-business marketing plan, you and your team will need to do in-depth research on your client's company, including its operations, global reach, and range of offerings. By the end of Week 8, I need you to produce a situation analysis report explaining your team's findings on the company. Be sure to include a value proposition, essentially the promise that is made to the customer, explaining the reason a customer purchases a product or uses a service (i.e., the value that a company delivers to its customers). Start by reading the attached case file and be sure to consider the following questions while you do additional research: Where is the company headquartered? What are the company's major products and/or services? What is the company's annual revenue in dollars, and what is its annual production in units? Does the company own its own facilities or does it subcontract manufacturing to others? Who are the company's major suppliers of raw materials or parts, and where are they located? What is the distribution of the company's workforce by country? How does the company differentiate its offering in its highly competitive markets? Does the company have exclusive marketing or distribution agreements or partnerships? Who are the company's major global and US customers? What benefits does the company offer to its customers? Who are the company's major global and US competitors? When developing your situation analysis, you should also understand the importance of vision and mission statements and then research the company's own vision and mission statements. Write a four-page document detailing the main findings of your research about your client, including its mission and vision statement. Submit your document to your team’s study group. That's it for now, Jillian
In the next step, you will complete your situation analysis by conducting an environmental scan that takes a comprehensive look at the many factors that you need to consider, exploit, or defend against in your marketing plan. This situation analysis will be incorporated into your B2B marketing plan later in this project.
A. Situation analysis (Step 4): Start by reading the company case file and consider the questions in Step 4 while you do additional research on the company and its vision and mission statements. Do not forget to include your value proposition, which is essentially the value the company offers to its customers and compels them to buy its products.