Team “F” in the house!!! Better known as Bryan and Nabih. Here to make a splash and hope to provoke some great discussions on marketing, specifically B2B marketing. This blog opens the discussion of the challenges in B2B marketing.
EXAMPLE of the Unknown with the competition: As in Harvard case study, Barco Projection Systems (BPS), there were some significant challenges and tough decisions to their leadership had to make. Their COO Erik Dejonghe had to make some very critical decisions that could potentially a tremendous ripple effect and potentially lead to the demise of Barco’s strongest business line. I would say a loss of 75% of forecasted profits is quite damaging and likely fatal. The unknown of what Sony had up it’s sleeve was the toughest part. A preemptive move, either significantly over or under shooting, which damaging implications either way. Being boxed in is difficult and making those tough decisions is where true leadership is unveiled Unfortunately, even with the best leadership, good decisions can made yet, yield a negative outcome.
Buying Situations: As reflected in Chapter 7 – Straight Rebuy, Modified Rebuy, New Task: There are challenges with each one of these. Straight Rebuy, keeping the business customer happy, staying connected, having strong communication and building loyalty takes a lot of work. Showing that despite competitors and price fluctuation, there is a significantly value add to the relationship. Modified Rebuy, dealing with customers that are always be shopping you, asking for the product to be constantly modified. These kind of customers may be more work than they are worth, and determining that is another challenge. The New Task is in my opinion the most challenging. There is no repore, prices have to be extremely competitive, and creating that connection to the right people – past the gate keepers is the hardest part. This is where companies must utilize their best resources, most knowledgeable experts and leaders which can sell not only the product but the value of the product AND the relationship.