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  Industrial Marketing Research Industrial marketing research is subject to a systematic enquiry in terms of : Content: what the researcher attempts to study and why Method: Methodology of investigation and how to collect all relevant data Technique: Procedures or tactics by which strategy is implemented. Steps in designing an industrial marketing research 1.Clarification of research objectives 2. Assessment of internal data base if any 3.Design of research and research instruments 4.Pre-testing 5.Preliminary discussion with the client's designated representatives 6.Final fixation of research samples and the expected output 7.Full scale information gathering 8.Data processing by the internal team 9.Report writing 10.Audio visual presentation follows after the formal report has been submitted. Example An all india level study was organized for an Indian firm-Usha Martin black,Ranchi-which was planning to invest Rs 15 crore to make and market digital drives as an additional product line against the already available analog thyristor drives. At that time, in India, these were produced by Siemens and other large firms. The preliminary study was aimed at finding out: 1. whether the digital drives product line would be preferred over analog thyristor drives? 2.the probable requirement patterns(for the next 3 yrs) 3.more prospective future buyer users and each firm's concerned decision making unit members.  These data were analyzed and probable need pattern was worked out.Then only ,based on all this information,the management of this large indian firm decided to go ahead with a new investment proposal. Industrial Marketing Pricing: To promote industrial products and services,pricing plays a key role which takes into account several exogenous variables:    status of technological readiness of the concerned buyers-users    market's demand and potential at a point of time    cost benefit analysis Pricing strategies(read from book) 4Ps of B2b Marketing 1.Product The total offering  is created by a partnership between the buying organization and the marketing organization. The process creates an augmented product    that is specific to the buying unit’s needs and maximizes the value creation capabilities of the marketer. Core Product + Financing Terms + Delivery Options = “Total Offering  2.Price Price …  Price is the measure of value exchanged and is determined by the market (not by costs).  I.   is the mutually agreed-upon amount that satisfies both sides in an exchange. II.   often varies from fixed price, with more special discounts and allowances (in comparison to consumer markets). III.   may involve things other than a one-time price payment (such as commissions). Place..... Place is about getting the product to the customer in order to maximize economic utility  . Form  Utility (having the product in the right size package, quantity, etc.) Time  Utility (having product available at useful times) Place  Utility (getting the product to the customer where & when it is expected) Possession  Utility (making it easy to transfer ownership to the buyer) Promotion Business-to-business marketing requires a different emphasis on different parts of the promotional mix. Consumer   marketing   ã   Emphasis is frequently on advertising . ã   Communication with customers is often a monologue . ã   Relationship is often brief  . Business-to-business  marketing   ã   Emphasis is frequently on  personal selling . ã   Communication with customers should be a dialogue . ã   Relationship is often long-lasting .  B2b selling process Selling management: It is an integral part of industrial marketing process.The following needs to be considered for effective sales management. Present customers,semi-developed prospects and dealers Demand potential which can be classified into : Category A: small no of buyers who are large value, large volume and major revenue earners Category B:larger no of buyers which cumulatively account for a medium level of market share Category C:Much larger no of small-buy users who may be widely dispersed geographically. Stages of Selling Process Prospecting and lead generation:
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