Overview Of B2B Marketing: Opportunities And Challenges (Essay).

What is B2B marketing?

Question:

Explain the importance of B2B services in Current Competitive Market.
 

In recent years, business-to-business marketing (B2B) process is increasingly popular in the global market. Through the involvement of the B2B marketing, organizations obtain the opportunity to enhance the business in the global platform. In the B2B process, some of the business practices including outsourcing, procurement, consultancy and information processing have been experiencing the profitable outcome in the international platform (Moore, Hopkins and Raymond 2013). Many business analysts have discussed that the B2B commerce has experienced immense growth in the business. In the B2B Commerce, an organization can reduce the cost through the long-term customer loyalty. Business to business marketing indicates the practice of inReferences:ts, contributing the sale of their services to other companies or business (Victor Chen et al. 2013).

In this context, the researcher provides a brief literature review on the research topic of B2B marketing. Moreover, the investigator builds questions based on objectives of the research. With the involvement of different tools and techniques, the researcher evaluates the data from different sources. Different apparatus and techniques employed in the methodology will facilitate the researcher to identify the key issues of the research topic. 

B2B services:

Leek and Christodoulides (2012) have discussed that the business-to-business marketing suggests the practice of organizations such as governments, institutions, and other commercial business selling products to other organizations or business. On the other hand, Simula and Vuori (2012) have stated that the business marketing is a vital part for improving the business opportunity in the international market. By analyzing the market characteristics, it can be identified that B2B marketing is geographically concentrated. On the contrary, Eshuis et al. (2015) have highlighted the fact that the consumer market is geographically disturbed. Consequently, B2B marketing occurs in the large marketplace. Moore, Hopkins and Raymond (2013) have identified that B2B marketing has some unique service characteristics including service, timely availability. The involvement of various functional areas from business ends facilitates the organization to experience the profitable outcome of the business.

Victor Chen et al. (2013) have discussed that the B2B marketing process involves a particular channel to conduct the entire process in an efficient manner. The particular channel starts from the manufacturer, which can be categorized into sections including company sales force and representative agency. Moreover, the company sales force has two different categories including customers and distribution dealer. On the other hand, the representative agency involves the customer to conduct the process in an effective manner. By analyzing the characteristics of B2B demand, it can be assessed that the derived demand plays an important role in executing the business 2 business process management (Simula and Vuori 2012). In the recent years, it has been seen that the service industry indicates the prime stimulant for enhancing the productivity in the B2B business arena. It has been published in a business report that the B2B service industry has exceed revenue of 1 trillion US dollar. The modern business analysts have discussed the importance of the B2B industry as it successfully establishes its marketing domain in recent years. However, Leek and Christodoulides (2012) have evaluated some issues of B2B services. The fundamental challenges for conducting B2B business are experimental, interactive and process dependent nature from the consumer benefits perspectives.

B2B services

Victor Chen et al. (2013) have stated that B2B market and environment must be evaluated with the buyers perspectives. It can be categorized into two sections including B2B customers and B2B products. In the B2B purchasing phase, organizations must follow certain steps including goals of purchasing and purchasing orientation. On the other hand, the purchasing orientation includes steps such as buying orientation, procurement orientation, and supply chain management orientation. The purchasing practice of the industrial customers can happen in different business segments including commercial business, Government, Institutes, and Co-operative. Simula and Vuori (2012) have identified the B2B marketing framework, which includes four major stages including marketing tactics, buyer-centric tools & content, business strategy, and the marketing knowledge. The below diagram facilitate to understand the marketing framework of B2B.

Figure 1: B2B marketing framework

(Source: Leek and Christodoulides 2012)

The researcher develops the research questions for executing the research topic of B2B marketing in a systematic manner. The researcher develops the following questions on the research topic.

• What are the challenges of organizations to conduct B2B business in the global platform?
• How does the valuation create difficulties for organizations to execute the B2B process in an effective manner?
• How does the B2B process facilitate organizations to experience the profitable outcome in the business on the global platform?
• How can organizations enhance the B2B process by rearranging different business factors including buying, pricing, and contracting behavior?

In the research methodology, the researcher involves several tools and techniques for analyzing the study in an appropriate style. The research technologies facilitate the investigator to identify the data accumulation method on the research topic. The researcher’s nature facilitates in executing the research process in an effective manner.

The research design consists of three components including explanatory, exploratory and descriptive (Davies and Hughes 2014). The exploratory research design facilitates the investigator to analyze the nature of the research. The researcher employs the exploratory research design for exploring the existing research’s facts. On the other hand, the explanatory research design facilitates the researcher to explain the issues of the research topic in an appropriate way (Miller et al. 2012). Descriptive research design indicates the most authentic research design as it facilitates the researcher to evaluate the factors of the research topic in a detailed manner (Neuman and Robson 2012).

In this context, the researcher utilizes the descriptive research design for investigating challenges of B2B process. With the involvement of descriptive design, the investigator will be able to focus on the detailed evaluation of the research topic.

In the methodology, the research approach can be categorized into two sections including inductive and deductive approach. In this context, the researcher selects the deductive approach for investigating the importance of B2B marketing (Panneerselvam 2014). The researcher selects deductive approach for accepting or rejecting the hypothesis. In the deductive approach, the researcher needs to follow a certain path including theory, hypothesis, observation or test and confirmation or rejection (Pickard 2012). The deductive approach allows the researcher to investigate the research topic with theoretical perspective. Consequently, it enhances the knowledge on the research topic.

The researcher chooses the positivism philosophy for the particular study. Positivism philosophy allows the researcher to implement the scientific method for accumulating data on the particular topic. Consequently, it enhances the knowledge of the researcher, which facilitates in improving the research quality in an effective way. The researcher involves the positivism philosophy for implementing the statistical analysis on the research topic.

B2B purchasing practices

Calculation Referred to MS Excel

Figure 2: Gantt chart

(Source: Created by author)

The researcher involves a systematic process to execute the entire research in an effective manner. In the 1^st stage, the researcher selects the particular area to be analyzed. In the next stage, the researcher develops the aims, objectives and questions of the research. In the third stage, the investigator includes the literature review. The researcher employs several theories on the particular research topic in the literature review section for enhancing the knowledge of the research. In the next stage, the researcher accumulates data on the research topic. In the data gathering process, the investigator involves the valid and reliable data on the study topic. In the next step, the investigator gathers the primary data on the particular research topic from various respondents. At the final stage, the researcher completes the entire research process in an appropriate way. The research conclusion depends on the achievement of the research aims and objectives.

Figure 3: Research process

(Source: Punch 2013)

In the research methodology, the data collection process can be divided into two sections including primary and secondary data. In the primary data collection method, the researcher gathers huge, reliable information on the research topic (Robson and McCartan 2016). The primary data collection involves respondents from different fields for accumulating information on the research topic. In the primary data collection process, the researcher successfully evaluates the rationales of the topic (Taylor, Bogdan and DeVault 2015). The major part of the research topic is surrounded by the primary data collection.

In this research, the researcher involves the primary data collection for investigating the research topic. On the other hand, the researcher avoids the secondary method, as it unable to provide valid and reliable information on the study topic. The sampling method consists of two parts including the probability sampling and non-probability sampling method (Venkatesh, Brown and Bala 2013). Probability sampling method indicates the random sampling technique, whereas the non-probability sampling technique does not include the randomization. In this context, the researcher involves the non-probability sampling technique, as it is important to target the particular key personnel from the B2B service industry. In the sampling size, the researcher includes 200 key personnel associated with the B2B industry to collect the quantitative data.

Data analysis technique includes two sections such as a qualitative and quantitative method. In the qualitative method, the researcher involves key personnel from the higher management of the organization for highlighting the factors of the research topic in a detailed manner (Robson and McCartan 2016). On the other hand, the quantitative analysis allows the researcher to select a large sample size involving key professionals for accumulating updated information on the research topic. In this study, the researcher involves the quantitative analysis for analyzing the research topic, as it provides a huge amount of reliable data on the B2B system (Pickard 2012). Moreover, the investigator could be able to accumulate the information on the B2B system based on the current market statistics. Consequently, it would facilitate the researcher to enhance the quality of the research. Moreover, the researcher could engage the statistical analysis including mean, median, mode and standard deviation in the quantitative data investigation technique (Taylor, Bogdan and DeVault 2015). The researcher will prepare the survey questionnaires for respondents. In this context, the researcher involves the closed-end questions for respondents for achieving the research objectives successfully. The researcher would include email, phone, or face-to-face interview for accumulating the research data from respondents. Hence, it can be assessed that the quantitative research method will facilitate the researcher to evaluate the rationale of the research topic in an efficient manner.

Figure 4: Data analysis technique

(Source: Venkatesh, Brown and Bala 2013)

The research outcomes indicate a wide range of data and information on the particular research study. With the involvement of the analytical framework, the investigator identifies the rationale of the research study. By investigating the particular research topic, the investigator evaluates the issues and impacts of the B2B process in the global market. Hence, it can be assessed that the research outcome will facilitate in conducting the future research projects in an efficient manner. Moreover, the research outcome will be consistent with future employment. 

References:

Davies, M.B. and Hughes, N., 2014. Doing a successful research project: Using qualitative or quantitative methods. Palgrave Macmillan.

Eshuis, R., Norta, A., Kopp, O. and Pitkanen, E., 2015. Service outsourcing with process views. Services Computing, IEEE Transactions on, 8(1), pp.136-154.

Leek, S. and Christodoulides, G., 2012. A framework of brand value in B2B markets: The contributing role of functional and emotional components.Industrial Marketing Management, 41(1), pp.106-114.

Miller, T., Birch, M., Mauthner, M. and Jessop, J. eds., 2012. Ethics in qualitative research. Sage.

Moore, J.N., Hopkins, C.D. and Raymond, M.A., 2013. Utilization of relationship-oriented social media in the selling process: A comparison of consumer (B2C) and industrial (B2B) salespeople. Journal of Internet Commerce, 12(1), pp.48-75.

Neuman, W.L. and Robson, K., 2012. Basics of social research: Qualitative and quantitative approaches.

Panneerselvam, R., 2014. Research methodology. PHI Learning Pvt. Ltd..

Pickard, A., 2012. Research methods in information. Facet publishing

Punch, K.F., 2013. Introduction to social research: Quantitative and qualitative approaches. Sage.

Robson, C. and McCartan, K., 2016. Real world research. Wiley.

Simula, H. and Vuori, M., 2012. Benefits and barriers of crowdsourcing in B2B firms: Generating ideas with internal and external crowds. International Journal of Innovation Management, 16(06), p.1240011.

Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.

Venkatesh, V., Brown, S.A. and Bala, H., 2013. Bridging the Qualitative-Quantitative Divide: Guidelines for Conducting Mixed Methods Research in Information Systems. MIS quarterly, 37(1), pp.21-54.

Victor Chen, J., Chen, Y. and Paolo S. Capistrano, E., 2013. Process quality and collaboration quality on B2B e-commerce. Industrial Management & Data Systems, 113(6), pp.908-926.