Course Details
Subject {L-T-P / C} : SM6241 : Industrial Marketing { 3-0-0 / 3}
Subject Nature : Theory
Coordinator : Dr. Arvind Kumar
Syllabus
Unit 1: Introduction and Overview of industrial marketing: Industrial VS Consumer Marketing, Types of Industrial Customers, Classification of Industrial Products and Services, Different Customers and Products of Industrial Marketing, Strategies for Managing Industrial Marketing Environment. – 8 lectures
Unit 2: Industrial Buying and Buying Behaviour: Industrial Buying Decision Process, Differences between Consumer and Organizational Buying Behaviour, Models of Industrial Buying Behaviour, Organizational Buying Process, In-suppliers and Out-Suppliers of Industrial Marketing. – 8 lectures
Unit 3: Promotion in Industrial Marketing: Advertising Decisions in Industrial Marketing, Sales and Sales Force Promotion, Industrial Marketing Mix Elements, Controlling the Sales Force and Compensation to Sales Persons, Controlling the sales force. – 8 lectures
Unit 4: Industrial marketing Research and Demand Forecasting: Industrial vs. Consumer Marketing Research: Issues and Challenges, Industrial Marketing Research Process, Demand Forecasting and Levels of Forecasting, Quantitative and Non-Quantitative Forecasting Methods, Managing Distribution Channels. - 8 lectures
Unit 5: Targeting and Positioning in Industrial Marketing: Segmenting, Process of STP, Requirements of Effective Segmentation, Selecting the Target Marketing Strategy, Developing a Product Strategy and New Product Development, Marketing of Industrial Services.- 8 lectures
Course Objectives
- To develop an in-depth understanding about all the key conceps of Industrial Marketing.
- To expose the students to a variety of product-market situations in the B2B context.
- To develop skills required to formulate implementable B2B marketing strategies.
- To prepare the students for a career in “Industrial Marketing”
Course Outcomes
After completion of this course, the pupils shall be able to – <br />(i) Explain all the key concepts of Industrial Marketing with ease. <br />(ii) Propose strategies to cope up the ever-changing marketing environment. <br />(iii) Synthesize the process employed in industrial purchases while critically analyzing all the models of industrial buying behavior. <br />(iv) Analyze the role of all the major promotional tools used in business marketing. <br />(v) Develop a communication program for an industrial product independently. <br />(vi) Synthesize the steps of selling process followed by an industrial salesperson. <br />(vii) Formulate a research process for industrial marketing
Essential Reading
- James C. Anderson, James A. Narus, Das Narayandas, and D. V. R. Seshadri (2011), Business Market Management (B2B): Understanding Creating and Delivering Customer Value, Pearson , Edition - 3rd
- Alan Zimmerman and Jim Blythe (2018), Business to Business Marketing Management: A Global Perspective, Routledge , Edition - 3rd
Supplementary Reading
- Krishna Havaldar (2014), Business Marketing: Text and Cases, McGraw Hill , Edition - 4th
- Robert R. Reeder, Edward G. Brierty, Betty H. Reeder (2018), Industrial Marketing: Analysis, Planning and Control, PHI