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 Marketing
How They Differ
Why Marketing is Needed to Maximize Growth and Profits
Jocelyne O. McGeever

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 year
Motto: do it now!
Marketing
Determined by
market, product
development and
manufacturing scale up
cycles
3 to 10 years
Motto: 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…

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What is the Value of Marketing?

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Marketing is to Selling what
standardized production is to
custom manufacturing: it enables
efficiencies in product design,
manufacturing, promotion and
other business processes.

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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.

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Achieving Marketing Excellence
Market Segmentation

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Marketing is
the 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

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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 and
buying 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.

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Defining the Mission

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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.

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Organizational Structure and Leadership

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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
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

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Company A - First
Single Market
Single Product Line
Company A - Next Stage
Multiple Markets
or Product Lines
VP- Sales &
Marketing
Sales
Marketing
Communications
President
VP – Marketing
Marketing
Communications
VP – Sales

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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

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What Marketing? When and Why?

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Single
Product
Line
Multiple
Product
Lines
Multiple MarketsSingle Market
1. Marketing Communications
2. Competitive Analysis
3. Market Research
4. Product Management
3. Market Research
4. Market Management
3. Market Research
4. Market Management
5. Product Management
Additional skills needed before expanding outside of current market and product line

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Definition of Marketing Terms

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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
Current
Product
Lines
? ? ? ? ?
No one knows
No one’s responsibility
New Ventures Lose
Money

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Marketing Communications
 Trade shows
 Print and digital advertising
 Traditional brochures and websites
 Promotional mailing and email marketing
 Papers, blogs, presentations
 Visual branding through templates
 PR

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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.

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Conclusion
Marketing: The Missing Link

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Signs that Marketing is Missing
Revenue Flat or Shrinking
Shrinking Margins
Rapid Turn Over of Sales Professionals

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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
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Marketing: What a B2B Company Needs

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