MKT 335 Final-2

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Southern New Hampshire University *

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335

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Marketing

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Feb 20, 2024

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B2B FINAL EXAM Professor Prince Dec., 2023 Time Began: 9:00 Time Ended: 11:00 ANSWER QUESTIONS BELOW: 1. Read and analyze B2B Snapshot 5.2, innovative use of the internet to connect valuable B2B innovation. Use the chapter’s text section on response rates to describe in detail relations between the text and the snap-shot (pp. 129-131) Acceptance of CRM on the Cloud. Among their innovation stack, a salesman's CRM (client relationship management) stage is arguably the most complex. To further elucidate, your CRM manages client and prospect data, which includes crucial information about client behavior and purchase tendencies. According to a deal of professionals, CRMs are essential for strengthening their business process and presenting it to board-level executives. In any event, cloud-based CRM stages are a recent advancement in the CRM space that are transforming the B2B selling process. that require on-premise delivery, cloud-hosted services are delivered via the internet. The Rise of Big Data. Organizations are unquestionably more connected to their prospects and customers because of the internet. This combined with advancements in cloud-based CRM and artificial intelligence has allowed firms to quickly and easily analyze large amounts of data. Businesses possess vast amounts of data that they are utterly clueless about how to handle. However, you can help yourself by collecting, analyzing, and utilizing your information with the appropriate tools, which will alter your business-to-business selling process: More focused prospecting: According to 71% of deal professionals, just 50% of their underlying prospects turn out to be excellent fit leads. To enlarge the quantity of quality leads and the most recent sales led by information Prospecting tools are capable of looking into your client and prospect database. This presents fresh options that complement the attributes of your most successful buyers. Prescient analysis: Predictive analysis makes use of data to estimate future transaction outcomes. Deal sizing was once mostly unknown. However, with the latest developments and data analysis, estimation is much closer to being an exact science. Improved information support: The efficacy of your agreement can be quickly destroyed by operating on poor or insufficient information. The newest information cleanliness devices maintain your data set up to date, accurate, and spotless at the touch of a button or on a reserved space. Mechanization Turns Into Conventional sales involved a great deal more human labor in the past: setting up meetings, scheduling calls, dispatching messages, and researching opportunities. Thankfully, these simple tasks are considerably more refined thanks to the latest developments in mechanization tools. In the unlikely event that you haven't actively embraced the automation trend, here are a few strategies to reestablish your accountability and emphasize the primary element of your duties: Outreach: Easily organize follow-up appointments, create personalized

email templates, record phone conversations, transmit crucial information, and streamline your work communication. Prioritizing leads: Sales representatives devote a significant amount of their time on physically qualifying prospects. Not only is the manual investigation time- consuming, but it also makes you more prone to errors. By identifying the incredible opportunities that are most likely going to close and ensuring that leads are directed toward the appropriate colleague for outreach, computerized lead scoring and steering can relieve some of this burden detailing achievement and improvement depends heavily on reporting. However, if your organization use outdated cycles, announcements may quickly grow boring and repetitive. Computerized reports ensure that the right individuals receive the most important information in an optimum, coordinated manner, saving time and resources. 2. Read and analyze B2B Snapshot 3.2, NAMPAK adapts to Dairy Crest product needs. Use the chapter’s text section on participants in the interaction process to describe in detail relations between the text and the snap-shot (pp. 76-79). Interaction brings together the technological resource of the two relationship parties and so these buses provide the conditions under which interaction occurs. The technological systems extend beyond equipment-based resources or technology infrastructure. They all include the knowledge bases of the individuals working in the two firms. If the systems match well then the basis for smooth interaction exists. However, if there la a substantial gap between the systems them the basis for mouth interaction is weak. In practice, companies may well get involved in activities to bring their technology systems into closer alignments In a further example, if the production technology of the seller is geared towards long, continuous runs of the same product, yet a buyer varied and relatively small batches of product, then the interaction between them may revolve around alternative forms of production, such is the car in 8778 Snapshot 3.2.What either party seeks to gain overall, and perhaps more importantly-through its relationships, affects its interaction. If it sees value though exchange, for instance by joint development of products or sharing of expertise, then its interaction will follow suit in terms of a willingness to engage and the commitments it may be prepared to make. Where a company e a company pensions can attain its goals independently of a counterpart, it is less likely to make substantial commitments to that relationship, and ins interaction will be affected accordingly. The interaction may be of several types. Product/service. This is often the reason for exchange in the first place, the relationship builds around this central element. The nature of the product/service offering inevitably affects the interaction between two companies. Financial. The amount of money involved in the exchange is also likely to affect the interaction. Financial exchange indicates the relative importance of the relationship and thus the imperative for more or less interaction. Informational. It is not always products or money that is exchanged. There is often a large amount of informational contact, Commercial material such as terms and conditions may be discussed as part of ongoing negotiations between relationship parties. Social exchange. This plays an important part in maintaining a relationship between economic transactions and

seems particularly important in reducing the uncertainties between parties that arise from cultural or geographical distance (Håkansson and Ostberg, 1975). 3. Answer the case study question from 5.1 Liqui-gas enjoys a lesson in service quality (pp. 139-143 Business success depends on marketing. Choose the customers you want to target. You need to work out how you will reach and win new customers. Maintaining customer satisfaction is crucial. Staying ahead of your competition means reviewing everything you do and making improvements. As a reference document for implementing the marketing strategy, Jan's marketing plan should be used. Your objectives are outlined and a plan for achieving them is provided. However, it is perhaps most important to examine how you can make sure that your plan becomes a reality. A changing lifestyle and attitudes, as well as an aging population, are contributing factors to these trends Factors such as new materials and Internet usage are contributing to the development of new materials. A number of economic factors affect consumer confidence, such as interest rates and exchange rates. Changing expectations of customers, regulators and employees on sustainable development is applied to environmental factors. A change in taxation, trade relations, or grant support for businesses are all political factors. A change in employment law, or a change in the regulation of your sector, can have a significant impact on your business. Policies and practices governed by ethical and moral principles. It is also important to understand your own strengths and weaknesses internally. An original product and enthusiastic employees may be the main strengths of a new business. Having limited financial resources and no existing customer base are likely to be its biggest weaknesses. Using a SWOT analysis, you can summarised your Strengths, Weaknesses, Opportunities and Threats based on an external and internal analysis. Your strengths should be used to find opportunities. Identify potential threats and weaknesses to your business, as well as how to overcome them. A SWOT analysis, for example, may assist you in identifying customers who may be a good fit for your business. If you want to reach customers, you might consider using the Internet. Your financial weakness may prompt you to look for ways to raise additional investment. Things to consider: If you want to get ten new customers, for example, you might set a specific objective. The objective you set must be measurable, so that when you review your plan, you can see if you have reached it or not.To achieve an objective, you must possess the necessary resources. Money and people are usually the key resources. Make your goals attainable - you should be stretched, not demotivated by unreasonable goals.The objective should be time-bound. For example, you might aim to get fifteen new customers within the next six months.

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MKT 335 Final-2

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