Blurring the lines: is there a need to rethink industrial

marketing? Abhishek Prabhat – 13202189 Sunil Behera – 13202177 Debi Prasan Das – 13202197 Satyam Mohanty – 13202041 Shahina Jacob – 13202225

Submitted to- Prof. Joydeep Biswas

Introduction

• Mid 1960 primary focus of marketing research was consumer market

• Focused on buying centres and buying process explored the interrelationship between buying organization and selling organization.

• Some of insight as developed in industrial marketing were relevant to consumer marketing.

• Purchase decision to involve husband, wife, children and other influencer.

• Core principles of marketing has got modified from the B2C to B2B

Changing Business environment

• A convergence of B2B and B2C markets, driven by development of the internet and the rise of small business.

• A blurring of value chains through outsourcing and other relationships that allow networks of firms to do what was once done within the firm.

• A blurring of relationships with customers, as customers are invited to participate with companies in the design and delivery processes.

• A blurring of functions within the firm as marketing and other functions are more integrated through EDI and other systems; and

• A blurring of product, services and customer experience, moving from an "industrial" base to a knowledge-based society.

Rethinking and mental models

• Mental models play a very powerful role in shaping our perception and actions in any field.

• At a certain point particularly when the world changes we need to challenge and rethink our models so they do not hold as back.

• Breakthroughs in business such as creation of overnight delivery by FedEx.

• The design of overall packaging business challenged traditional mail and delivery services with a hub and spoke system.

Toward a new model for business and industrial marketing.

1 Expanding the focus from buyers to stakeholders.

2 Recognising new forms of relationship and empowered consumers.

3 Re-examining the role of outsourcing and traditional make by decision.

4 Bridging disciplinary silos.

5 Importance of brand equity.

6 Information and communication technology.

7 Shift from product to services and from transaction to the total customer experience.

8 Designing product and services and business model for developing world.

9 Rethinking the role of marketing research and modelling.

10 Rethinking matrices and dash board

Conclusion

• Rethinking on whether we should consider B2B and B2C marketing differently? And if we consider them separately , how do we distinguish based on the maturity of the fields and the dynamic business scenario.