The importance of derived demand in B2B marketing - Essay Example

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Name Name of Institution Executive summary This report aims to discuss commercial transaction that occurs between two businesses for instance, manufacturer, and a wholesaler. Solid works will be the subject of discussion because it engages much in marketing activities that attracts people to their advertised products…
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The importance of derived demand in B2B marketing
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Download file to see previous pages In terms of technology, the company has established the need of aligning the company with emerging technologies. Additionally, the company considers Loyalty of each client paramount and in doing this, looks for ways how to be loyal to customers. The report explores much on marketing strategies that helps organization to concentrate on the greatest opportunities to increase their earnings and attain a sustainable competitive advantage. Many companies adopt the need of having marketing strategies in running their businesses centered on shopper, consumer and retailer need. Due to stiff competition, the company has taken a lot of time to evaluate opportunities that would enhance success. The purpose of this has been to evaluate companies of the same nature and assemble them to offset the marketing program. The company has established that it is from consumer’s needs that their productivity is informed and achieves a notable growth. Introduction Business to Business popularly known as B2B is a commercial transaction that occurs between two businesses as in the example of a manufacturer and a wholesaler (Block & Block, 2005) . The term was coined with the main purpose being to differentiate between electronic communication that was taking place between businesses and consumers. The term has been used mostly to describe the business transactions that take place between two businesses in an online scenario. Therefore, B2B marketing mostly involves sending and receiving mails plus other activities that take place in the online environment. This report seeks to explore the concept of derived demand and B2B marketing. Objectives The main objectives of this paper are to find out how a company (SolidWorks in this case) that is involved in B2B marketing: 1. Estimates derived demands 2. Evaluates business segmentation opportunities 3. Develops a new channel strategy that is aligned to one business segment About SolidWorks SolidWorks is a software engineering (CAD softwares) which mostly sold to mechanical engineers (Brennan, 2011). The company engages so much in marketing activities by use of links that lead people to their site where they have advertised their products. Derived Demand and B2B marketing Derived demand in marketing term can be defined as the requirement that comes up as a result of purchasing another product. This mostly occurs in cases where the consumer has bought the product with the main purpose being to use it for purposes of production (Bruhn, 2003). The main reason for this is that the purchase of these products is normally due to desire to have their final products. In the case of the software manufacturing company Solidworks, there are a number of ways in which it determines the derived demand in which it decides to respond. All the demand in B2B chain are as result demands that are made somewhere by the consumer. SolidWorks being a software development company relies on engineers who want to design either bridges, houses or other building designs that the consumer has demanded for (Christopher & Ballantyne, 2002). However, the value chain is still incomplete because the consumer sought the services of the mechanical engineer and the engineer sought the service of a software developer who in turn sought the service of the person who developed the programming language. The position that the company is in the chain of value addition determines the contact that it has with the consumer (Bernadson & Toole, 2007). The ...Download file to see next pagesRead More
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