B2B Marketing
It should be acknowledged that B2B marketing is different from B2C marketing, and it has its unique aspects. The demand for B2B products is always high. Samsung may be a target market for various companies. Firstly, it is producers. They either manufacture goods or provide a service. Such firms could offer the production of flat-screen TV parts at a great price or services that could be needed by the company. Resellers also could use our company as a target market if they can make offers that would be beneficial for Samsung. Gil‐Saura, Frasquet‐Deltoro, and Cervera‐Taulet state that “there is usually vulnerability in the relationships between business buyers and sellers due to the high degree of interdependence needed to achieve the desired result” (596). In other words, both sides should trust each other to cooperate successfully.
Segmenting B2B markets
B2B segmentation has quite a few implications because a company decides its relationships with other firms at this stage. It may be focused on particular buyers or the organization (Brassington and Pettitt, 114). Businesses are focused mostly on increasing their profit. Two segments can be chosen as the most appropriate for Samsung based on the Harrison, Hague, and Hague behavioral-based model. First of all, it is a segment that focuses on quality and brand. Firms that operate in this sector prefer the products of high quality, and our company is capable of providing them. Also, a brand name that is known globally is always an advantage in any market. Then, it is a partnership-focused segment. It is extremely fitting for our company because Samsung is a trustworthy and extremely reliable corporation that is always looking for long term partnerships.
Marketing information systems
Marketing information systems consists of various procedures, and it is used by businesses to help with marketing decision-making process. It analyzes, generates and stores all kinds of data from various sources such as clients and distributors. It can also be bought from companies that are focused on these types of operations. Information is a core of every marketing system (Leonidou and Theodosiou, 12). Certain types of data should be collected for decision-making purposes. Samsung should gather the information about sales because it is the ultimate goal of the company. Also, information about customer profiles should be stored to see the effectiveness of the new marketing strategy. Knowledge about orders is also crucial for every business. Customer service reports should be gathered because opinions of clients are essential for our company, and Samsung would like to base their future marketing strategies with those views in mind.
Marketing metrics
Marketing metrics are used to measure the current performance of the company. Tollinen and Karjaluoto claim that “the digitized world has radically altered the ways in which firms can monitor their customers and collect data from the effects of their marketing communications” (320). This means that there are new kinds of metrics that were previously unavailable. It is always necessary for a corporation to keep an eye on real revenue growth. This financial metric is capable of showing the impact of new marketing strategy. It is also paramount to measure the current performance. Such parameters as customer acquisition cost, core revenue impact, and efficiency rating should be used. First one allows a company to figure out if expenses on marketing are reasonable, and the ratio is higher than average. The other two help to identify if the strategy is efficient and working as planned.
Works Cited
Brassington, Frances, and Stephen Pettitt. Essentials of Marketing, New York, NY: Pearson Education, 2007. Print.
Gil‐Saura, Irene, Marta Frasquet‐Deltoro, and Amparo Cervera‐Taulet. “The Value of B2B Relationships.” Industrial Management & Data Systems 109.5 (2009): 593-609.
Leonidou, Leonidas C., and Marios Theodosiou. “The Export Marketing Information System: an Integration of the Extant Knowledge.” Journal of World Business 39.1 (2004): 12-36.
Tollinen, Aarne, and Heikki Karjaluoto. “Marketing Communication Metrics for Social Media.” International Journal of Technology Marketing 6.4 (2011): 316-330.