Hutt breaks the concept of business model into four components: customer interface, core strategy, strategic resources, and value network. Please share what company you believe follows this concept to

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Hutt breaks the concept of business model into four components: customer interface, core strategy, strategic resources, and value network. Please share what company you believe follows this concept to a “T” in their business model, and what components you believe this company excels at? Where is the company’s opportunity for improvement?

200-250 words


Text book

Hutt, M. D., & Speh, T. W. (2013).

Business marketing management: B2B

(11th ed.). Mason, OH: South-Western.

Hutt breaks the concept of business model into four components: customer interface, core strategy, strategic resources, and value network. Please share what company you believe follows this concept to
MBA 5871, Business -to-Business Marketing 1 Cou rse Learning Outcomes for Unit III Upon completion of this unit, students should be able to: 3. Examine the importance to developing relationships with customers, suppliers, and buyers within the B2B model. 7. Distinguish how global competition will impact B2B marketing. 7.1 Describe how global expansion and competition inter -relates with strategic planning. 8. Explain business -to-business marketing ethics. 8.1 Apply ethical considerations to the development of a strategic plan. Reading Assignment Chapter 5: Business Marketing Planning: Strategic Perspectives Chapter 6: Business Marketing Strategies for Global Markets Unit Lesson Strategy development at the most basic level is defined as a carefully orchestrated plan with the goal of achieving a particular series of objectives over a designated period of time. Hutt (2013) identifies three levels of strategies as descri bed below:  Corporate strategy is the overall strategy reviewing the businesses in which the company is most competitive.  Business level strategy is the strategy that focuses on effectiveness within the industry. Many times large corporations structure their operations into strategic business units (SBU) which is in essence, units within the organization that have a similar mission.  Functional strategy is the strategy that focuses on effective allocation of resources. The term business model is used qui te frequently in a variety of contexts within the business world. Hutt (2013) breaks the concept of business model into four components : customer interface, core strategy, strategic resources , and va lue network. T he customer interface concept looks at the needs of the customer. This might be accomplished by providing the customer with excellent fulfillment, support, information , and insight. Additionally, the development of a solid relationship and establishing an acceptable pricing structure will build a s trong customer interface. The core strategy suggests that the company has established their overall objectives which provide the overall direction and the performance criteria. Another component of the business model is the availability of the strategic re sources . This includes the core competencies or the skills, systems , and technologies within the company. Additionally, this includes strategic assets which includes things such as level of brand equities, distribution competencies and a host of other reso urces. The core processes includes the methods that the company has perfected in obta ining value for the customer. The final component of the business model is the value network which includes the unique relationships developed with the suppliers and strategic alliance partners. Once the business model has been established, the positioning strategy is compiled. Basically what this accomplishes is to establish the product/service’s identity within the eyes of the consumer (not the marketer). Another way of looking at positioning is the method used to communicate the benefits of the business that’s offered to potential and current customers. Obviously the ultimate goal is to differen tiate these benefits in order to convince the customer to purchase from the company instead of their competitors. UNIT III STUDY GUIDE Strategy Development & Global Opportunities MBA 5871 , Business -to-Business Marketing 2 UNIT x STUDY GUIDE Title Measurement and evaluation is an important element in the development of strategic plans. The balanced scorecard is a performance measurement tool that examines the performance of a business based upon financial, customer, internal business processes and learning/growth (Hutt, 2013). This tool focuses on the overall goals of the organization comparing specific data with regard to both financial and non -financial aspects. The idea is that marketers would focus on certain indicators that are considered to be key indicator s of the company’s performance. W ithin the suggested reading, an overview of this tool is provided. International business has taken on new dimensions and importance in recent years with the advancements in technology , only accentuating this as we realize that “the world really is flat .” The ability of B2B organizations to effectively reach international markets can mean the diff erence between a profitable and non -profitable entity. Hutt (2013) suggests that companies need to react decisively, confidently and rapidly to changing conditions in the international markets. Focusing specifically on global strategies, a company may pa rtake in a variety of different forms of international business as described below:  Exporting -This mode simply means that the company will produce the product/service domestically and ship to buyers in foreign countries. This form is one of the least risk y.  Licensing -This mode provides a level of permission to another company allowing them to utilize their intellectual property in exchange of a payment. This is also less risky compared to other modes.  Management contracts -This mode provides a package of sk ills and services to another company in exchange for a payment. One could look at this as almost borrowing managers from another company.  Strategic global alliance (SGA) -This mode represents a partnership between two businesses with a common goal in mind. This relationship is somewhat of a shared risk arrangement.  Joint ventures -This mode represents a partnership between two businesses where there is actually a joint ownership involved. Selecting the appropriate mode provides a significant challenge for co mpanies. Determining the tolerance for risk associated with all parties involved , will be a huge determinant of which mode to select. Additionally, you will have to take into consideration of the resources available as well as the overall needs of both the domestic and foreign customers . Fleishman (2012) identifies ten businesses that have perfected the art of magnificent international marketing (see suggested reading for link). These include well -known companies such as Coca -Cola and McDonalds , as well a s some not so well -known such as Airbnb, Rezdy and World Wildlife Foundation. W ithin the link, you will be able to view several video examples providing greater insight into the specifics of the marketing strategies of these ten businesses. Strategy devel opment within both B2C and B2B organizations require precise planning. The B2B world might be considered additionally challenging because of the various divisions within the organization and the multiple decision makers involved. Keeping an eye on the need s of the customer and the overall objectives of the organization will enable B2B organizations the ability to successfully formulate effective business -to- business strategies both domestically as well as internationally. Reference Hutt, M. D., & Speh, T. W. (2013). Business marketing management: B2B (11th ed.). Mason, OH: South – Western. Suggested Reading The author of this article discusses best practices when creating and building B2B services in a comp any. In order to access the resource s below, you must first log into the myCSU Student Portal and access the ABI/INFORM Complete database within the CSU Online Library. MBA 5871 , Business -to-Business Marketing 3 UNIT x STUDY GUIDE Title Hilson, G. (2001). Buil ding B2B services. Computing Canada , 27 (22). The reader will learn about how Microsoft advertises to the global market. Isler, K. (2012). An insight into global marketing & adverstising at Microsoft. [Video File]. Retrieved from https://www.youtube.com/watch?v=1Dn0i76Kohw In this article , the reader will learn about 10 innovative marketing campaigns . Fleishman, H. (2012). 10 businesses we admire for brillant global marketing. Retrieved from http://blog.hubspot.com/blog/tabid/6307/bid/33857/10 -Businesses -We -Admire -for -Brilliant – Global -Marketing.aspx

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