Marketing: What a B2B Company Needs

Technology Assessment International

Growth Strategies New Markets New Product Development Process

American Subsidiary PlanIncreasing Sales with Existing Resources

Market Research

Sales and MarketingHow They Differ

Why Marketing is Needed to Maximize Growth and Profits

Jocelyne O. McGeever

http://www.technologyassessment.com/


http://www.technologyassessment.com/growth-portfolio

http://www.technologyassessment.com/new-market

http://www.technologyassessment.com/new-product-development

http://www.technologyassessment.com/entering-the-us-market/american-subsidiary

http://www.technologyassessment.com/increasing-sales

http://www.technologyassessment.com/market-research




Market Research

Sales and Marketing: How they Differ












Market Research

Sales is focusedon individual customers & prospects, one at a time

Marketing is focused on groups of similar customers and prospects (Markets)

Marketing is about Markets












Market Research

Sales

Determined by sales cycle and bonus timing

Typically up to 1 yearMotto: do it now!

Marketing

Determined by market, product development and manufacturing scale up cycles

3 to 10 yearsMotto: think it through!

Time Horizons are Different!












Market Research

Sales

Market-ready products

Marketing

• Market-ready products• Products under development, testing

or scale up• Competitors products• Product concepts

Working On Different Products…












Market Research

What is the Value of Marketing?












Market Research

Marketing is to Selling what standardized production is to

custom manufacturing: it enables efficiencies in product design,

manufacturing, promotion and other business processes.












Market Research

Marketing enables:• Sales Efficiency: Sales professionals can sell, not

do market research, product specification or develop their own communication

• Standard Products, efficiently produced, competitively priced, suitable for multiple customers

• Market focus: branding to prepare the ground for selling, efficient promotion and lead generation.












Market Research

Achieving Marketing Excellence Market Segmentation












Market Research

Marketing isthe matching of products and services to meet

the needs of defined markets.

Segmentation is defining the markets.

Proper segmentation is the foundation to serving the market efficiently and profitably












Market Research

Segmentation Must Enable Standardization

Members of a market segment must be similar in their needs and buying behavior

with regards to your products

Segments must have distinct needs andbuying behaviors

Hint: members of the same industry do not necessarily have the same needs and buying behaviors. Company size, for example, might be a better segmentation.












Market Research

Achieving Marketing Excellence Defining the Mission












Market Research

Marketing’s Mission: Business Growth

Identify, investigate, evaluate opportunities for growth and their financial impact

Develop alignment of Executive Team

Develop business plan for opportunity

Implement the “Marketing” part of the plan












Market Research

Two Cases

Company A

Single Market

Single Product Line

Marketing is tactical and supports Sales.

Company B

Multiple Markets

or Product Lines

Marketing is strategic, focused on medium and long term

business growth.












Market Research

Achieving Marketing Excellence Organizational Structure and Leadership












Market Research

Two Cases

Company A

Single Market

Single Product Line

Marketing skill set is communications

Company B

Multiple Markets

or Product Lines

Marketing is strategic and

skill set also includes

general business

(business plans, financials…)












Market Research

“With this evolution of the CMO role both within specific organizations and across industries, the skill set required to be a successful CMO has also changed. “Ten years ago, you had CMOs who were brilliant marketers,” said Pearce (CMO, Del Monte). “Now, financial acumen has become more important. The CMOs I interact with are great consumerists, great marketers, great leaders, and also have a general management and financial perspective that I don’t necessarily think existed a generation ago.””

Succeeding as an Organization's First Chief Marketing Officer , 2011, White Paper, Spencer Stuart












Market Research

Marketing’s Mission: Business Growth

Identify, investigate, evaluate opportunities for growth and their financial impact

Develop alignment of Executive Team

Develop business plan for opportunity

Implement the “Marketing” part of the plan












Market Research

Two Cases

Company A

Single Market

Single Product Line

Company B

Multiple Markets

or Product Lines

VP- Sales & Marketing

Marketing Communications

Sales

President

VP - Marketing VP - Sales












Market Research

Company A - First

Single Market

Single Product Line

Company A - Next Stage

Multiple Markets

or Product Lines

VP- Sales & Marketing

SalesMarketing

Communications

President

VP – Marketing


VP – Sales












Market Research

Hiring Criteria for Marketing Leader

Option 1

Prioritize knowledge of industry or technology

over Marketing strength

Option 2

Prioritize Marketing strength over knowledge of industry or technology

One Year Later

Strong industry knowledge Weak Marketing

Strong Marketing

Adequate industry knowledge












Market Research

Achieving Marketing ExcellenceWhat Marketing? When and Why?












Market Research

Single Product

Line

Multiple Product

Lines

Multiple MarketsSingle Market

1. Marketing Communications2. Competitive Analysis


3. Market Research4. Product Management


3. Market Research4. Market Management


3. Market Research4. Market Management5. Product Management

Additional skills needed before expanding outside of current market and product line












Market Research

Definition of Marketing Terms












Market Research

Product Management

Accountable for business success of product lines

The Product Manager, as champion of a product line, insures that it continues to be competitive and profitable

Manages the “4 Ps”: Product, place, promotion and price

Product Manager is typically the entry point of technical employees into Marketing












Market Research

Market Management

Accountable for business success in specific markets

The Market Manager drives growth in the market by assembling compelling offerings

The Market Manager is typically someone with significant knowledge of the market, likely more experienced than a Product Manager.












Market Research

Market Research

Information gathering and analysis to assess if a new business venture is a good investment.

Should be undertaken before entering a new market or new geography, selecting sale or distribution channels, developing new products, entering partnerships and making an acquisition.












Market Research

Market Research: Who does it?

Current Markets

CurrentProduct

Lines

? ? ? ? ?No one knows

No one’s responsibilityNew Ventures Lose

Money












Market Research


Trade shows

Print and digital advertising

Traditional brochures and websites

Promotional mailing and email marketing

Papers, blogs, presentations

Visual branding through templates

PR












Market Research

Competitive Analysis

Identifying competitors

Understanding how they compete

Identifying how to compete successfully

Continuously monitoring for changes

Updating before entering a new market or new geography, selecting sale or distribution channels, developing new products, entering partnerships and making an acquisition.












Market Research

Single Product

Line

Multiple Product

Lines

Multiple MarketsSingle Market



3. Market Research4. Product Management


3. Market Research4. Market Management


3. Market Research4. Market Management5. Product Management

Additional skills needed before expanding outside of current market and product line












Market Research

ConclusionMarketing: The Missing Link












Market Research

Signs that Marketing is Missing

Revenue Flat or Shrinking

Shrinking Margins

Rapid Turn Over of Sales Professionals












Market Research

Signs that Marketing is Missing

Company Lags in New Product Introductions

Competition

Company












Market Research

Don’t Blame Sales!

Identifies and vets growth opportunity

Company alignment around growth opportunity

Develop a plan for commercial success

Company prepares for commercial success

Sales team sprints to successful selling

Marketing

Time

Sales












Market Research

www.TechnologyAssessment.com

www.linkedin.com/in/jmcgeever/










http://www.linkedin.com/in/jmcgeever/

Leadership & Management

Marketing: What a B2B Company Needs