Strategic Business-to-Business Relationship Management

Teacher: Hanna Harilainen

Session 1

• Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.

• Marketing strategy is the goal of increasing sales and achieving a sustainable competitive advantage. ( Wikipedia )

• Business-to-business (B2B) describes commerce transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer. ( Wikipedia )

• Customer relationship management (CRM) is a system for managing a company’s interactions with current and future customers. It often involves using technology to organize, automate and synchronize sales, marketing, customer service, and technical support. ( Wikipedia )

• Solution selling is a sales methodology. Rather than just promoting an existing product, the salesperson focuses on the customer's pain(s) and addresses the issue with his or her offerings (product and services). The resolution of the pain is what constitutes a "solution". ( Wikipedia )

• Relationship marketing was first defined as a form of marketing developed from direct response marketing campaigns which emphasizes customer retention and satisfaction, rather than a dominant focus on sales transactions. ( Wikipedia )

• The Business Model Canvas is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm's value proposition, infrastructure, customers, and finances. ( Wikipedia )
  • Youtube: Business Model Canvas Explained

Session 2

• Selling is offering to exchange an item of value for a different item. ( Wikipedia )

• A sale is the act of selling a product or service in return for money or other compensation. ( Wikipedia )

• Purchasing refers to a business or organization attempting to acquiring goods or services to accomplish the goals of its enterprise. ( Wikipedia )

Some titles in sales:

• Account Manager is a person who works for a company and is responsible for the management of sales, and relationships with particular customers. The account manager does not manage the daily running of the account itself. They manage the relationship with the client of the account(s) they are assigned to. ( Wikipedia )
• Key account manageer is assigned to a company headquarters to oversee the account team assigned to a particular account. Key account management includes sales but also includes planning and managing the full relationship between a business and its most important customers. An account manager who works in this role will engage in a variety of tasks including project management, coordination, strategic planning, relationship management, negotiation, leadership and innovative development of opportunities, and keeping record of transaction of sale and purchase goods. The tasks may include working with product design and application, logistics, sales support, and marketing. ( Wikipedia on key account manager )
• Export managers serve as intermediaries between foreign buyers and domestic sellers. Unlike export traders, who buy the products before selling directly to foreign buyers, export managers find buyers internationally for domestic product manufacturers. ( Education portal )
• Sales manager is the typical title of someone whose role is sales management. The role typically involves talent development and leadership. ( Wikipedia on Sales management )

Sales management is a business discipline which is focused on the practical application of sales techniques and the management of a firm's sales operations. ( Wikipedia )

Key qualities for working in sales:

1. Empathy and interest in people
2. Ability to communicate (listening)
3. Determination (closing a sale)
4. Self-discipline and resilience

Further reading

• Pennie Frow Google Scholar account - Associate Professor, University of Sydney - Co-creation, innovation, marketing strategy
• Adrian Payne Google Scholar account - Professor of Marketing - Marketing, CRM, Relationship Marketing, Co-creation