Description
Beena Shaji
Dec 14, 2023, 6:33 PM
Submitted
Hello, Sir and Class
One way to shift from a B2C to a B2B model is through partnerships with bicycle retailers. Collaborating with these entities enables the company to offer its 3D-printed carbon fiber bike frames directly to retailers. The shift allows the business to cater to a larger market. The company should negotiate exclusive contracts with these partners. It has to position itself as a critical supplier of high-quality frames within the bicycle industry.
Another way to shift from a B2C model to a B2B model in the simulation is by establishing collaborations with bike manufacturers. The company can focus on supplying its carbon fiber materials to existing bicycle manufacturers. The manufacturers should incorporate innovative 3D-printing technology and carbon fiber into their production processes. The shift allows the company to penetrate the market indirectly through established manufacturers (Mingione& Leoni, 2020). Therefore, it will expand its business with the manufacturers.
Adjusting Promotional Efforts to Enhance Relationship Marketing
In the simulation, one way to adjust the promotional efforts to enhance relationship marketing is by implementing loyalty programs. It can offer discounts on future purchases and personalized offers based on past purchases (Abeza et al., 2020). Therefore, the company will create stronger connections with its customer base. These initiatives create a sense of belonging among customers.
Another way to adjust the promotional efforts to enhance relationship marketing is through social media. Creating interactive content on social media platforms tailored to the biking community will facilitate conversations (Abeza et al., 2020). As a result, it encourages users to generate content based on the brand. Actively participating in discussions enables the company to establish itself as a trusted entity within the biking enthusiast community.
Conscious Capitalism in B2B Businesses
Conscious capitalism is relevant in a B2B environment. One reason is that conscious capitalism emphasizes the direct relationship between a company and all stakeholders. Conscious capitalism focuses on how businesses interact with B2B businesses (Nguyen, Jaber & Jimkin, 2022). It will also guide the B2B businesses to sustainable practices, leading to long-term collaborations. In a B2B context, conscious capitalism manifests through transparent business dealings. It will encourage B2B businesses to engage in ethical negotiations. Moreover, it will assist in establishing relationships based on integrity. Therefore, companies will prioritize environmentally friendly practices in their manufacturing processes.
References
Abeza, G., O’Reilly, N., Finch, D., Séguin, B., & Nadeau, J. (2020). The role of social media in the co-creation of value in relationship marketing: a multi-domain study. Journal of Strategic Marketing, 28(6), 472-493.
Mingione, M., & Leoni, L. (2020). Blurring B2C and B2B boundaries: corporate brand value co-creation in B2B2C markets. Journal of Marketing Management, 36(1-2), 72-99.
Nguyen, B., Jaber, F., &Simkin, L. (2022). A systematic review of the dark side of CRM: the need for a new research agenda. Journal of strategic marketing, 30(1), 93-111.
REPLY
JTJohn Troutmanreplied toBeena ShajiDec 14, 2023, 10:11 PMRead
Hey Beena / Class:Beena: thanks for your input in discussion how a switch to B2B would affect the Team’s efforts.Class:Another company I worked for years ago was Siemens. Based in Germany, with many B2B and B2C brands manufactured there, Siemens also had manufacturing plants here in the U.S., but only B2B.
In Europe, Germany sold high-end stoves, refrigerators, and other kitchen appliances (We were the “GE of Europe”), and B2B equipment.
We only sold B2B gear (industrial motors, electric-utility equipment) here in the U.S.
Our parent company in Germany did not feel like we could compete with the many B2C brands in the U.S.Thanks for reading,
Professor John TroutmanREPLY
MB
