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Semester 2 - Online
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Business markets account for approximately two-thirds of all economic activities and for the vast majority of jobs. Nevertheless, typical B2B firms such as 3M, Dow Chemical, Diageo and many others remain largely unknown to the public, yet they are leaders in their respective areas. This subject aims to provide insight into the issues, and challenges of particular interest to firms operating in business markets. Skilled B2B marketing professionals tend to make more strategic decisions based on long term profits and stakeholder benefits. Thus, to operate successfully, skills in procurement, sales, negotiations, crafting value propositions (value-in-use) as well as aspects of contractual and relational governance need to be put into placed. Students will learn about business relationship dynamics, their development and decay, and their embeddedness to business networks.
Furthermore, it is the objective of this subject to link theory and practice through different cases. Cases help to develop an ability to effectively use and apply concepts in real-life organizations. As such, the aim is to provide an experience that also includes the use of industry executives.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Appreciate the importance of B2B Marketing in generating value
- Understand core theories on how B2B Marketing (and Markets) function
- Analyse B2B related problems and be capable of applying relevant models/theories to generate appropriate strategic and tactical solutions
- Apply concepts and principles of interfirm exchanges, including methods of purchasing in B2B marketing, and their impact on value creation
- Examine critical issues associated with creating exciting in-store environments that enhance customer experiences and reinforce brand position
- Understand how retail managers can make informed strategic choices in relation to managing channel partners including channel conflict, retail form (online vs. bricks and mortar), global sourcing, and managing staff and customers across cultures to improve strategic outcomes
- Manage the retail marketing mix including product and merchandise mix, pricing, location and store-design, and promotions (including sales staff) to improve customer satisfaction and financial growth
- Critical evaluation of evidence in support of an argument or proposition
- Problem solving in marketing through the application of appropriate marketing theories, principles and data
- Communication of marketing and commerce related ideas, theories and solutions to peers and the wider community
- Ability to synthesize ideas, theories and data in developing solutions to marketing problems
- Ethical practice through a knowledge of corporate governance processes and implementation
- Research skills including the retrieval of information from a variety of sources
- Demonstrate a capacity to successfully engage in collaborative activities such as group based work and activities
- Interpret and communicate research results to specialist and non-specialist audiences
Last updated: 10 June 2021