B2B Marketing: A South-Asian Perspective

A different set of challenges and opportunities exist for the business-to-business (B2B) marketer, who intends to serve the needs of organizations rather than individuals/households. The B2B marketing process is longer and largely governed by relationship marketing. Buying behaviour is more rational and there are multiple decision influencers. Demand for B2B products and services is less elastic than B2C, thus transactions are more, necessitating a more frequent and direct contact between the buyer and seller. The B2B market represents a lucrative and complex market worthy of specialized analysis. Therefore, a growing number of business schools globally have added industrial or business marketing to their curricula. This textbook provides an understanding of the most recent industry trends and today's dynamic business-to-business (B2B) market. This edition ties the concepts to real-world decision-making and to industry best practices. The similarities and differences between consumer goods and B2B marketing are reviewed. Revised content focuses on market analysis, organizational buying behaviour, relationship management, and marketing strategies to reach organizational customers. A new digital playbook and expanded content on smart, connected products explore how digital-first engagement preferences of B2B buyers are transforming customer relationship processes.