Aykol, (2012) in the special issue on global Marketing in business to business context, talks about the gradual decline of trade barriers, and how such has significantly increased regional integration, and improving international trade. More importantly, this has also made way to the emergence of new markets around the globe creating a more dynamic competitive landscape for organizational marketers.
Leonidou and Hultman (2010) on the other hand refers that many firms are now gaining easier access to new markets, these firms are also able to identify a wider range of supply sources, and recognize new opportunities for future growth. Furthermore the increasing globalization of markets and production has placed practitioners in a very sensitive situation due to growing intensity and complexity of global competition. This however has been a wake up call for many organizations in recognizing the essential role of effective international marketing activities in achieving growth and prosperity for themselves.
Simultaneously, LaPlaca (2013) states that business-to-business marketing is increasingly making significant progress as firms and economies around the globe now depend heavily on international marketing practices so that they are able to cope with global challenges that may come their way. In doing so, Jia et al (2014) confirms that industrial buyers are shifting to more globalized purchasing strategies whereas Elg et al (2012) states that such businesses are establishing new international supply networks and increasingly using technology to identify and evaluate new supply opportunities (Wu et al., 2006).
Such business-to-business marketing strategy has many significant impacts on Segmentation, Targeting and Positioning.
LaPlaca, (2013) states that although the proliferation of knowledge in the area of business to business global marketing issues, the gaps still exist in the areas of international marketing practices. More importantly, there is a pressing need to actually address these shortcomings and the criticisms received and change it to a more developmental and positive way of doing things the right way. I would add to this as perhaps the most profitable and most economical way.
Such has shifted the focus of many researchers to face the problems as they arise and researching into more ways finding better solutions and better practices on how businesses can better Segment for more profits.
Now with this issue, it was called for so that researchers can all bring in ideas and network together so that these issues have possible solutions. And interestingly, the possible topics that was thrown out to gauge more ideas to name a few include :
- Global business alliance networks and marketing effectiveness
- Coopetition-based business models in international markets
- Coordination of distribution channels across cultures
- Entrepreneurial marketing and learning processes (e.g., exploration versus exploitation) in international industrial settings
- Longitudinal, multilevel, or multi-method research designs in international business-to-business marketing contexts
The above areas/topics are more or less in support to all aspects of Segmentation, Targeting and Positioning so that businesses can benefit significantly.
We live in a world where boundaries are shifting every day which has resulted in an increase focus for business people to become professional, think business and efficient. According to Iacobucci (2013), once a segment has been identified, we have our target to better serve with the resources currently at hand.
Iacobucci (2013) continues to stress the importance of how Marketers position themselves in the interest of the customers and most importantly in the eyes of the rivals. Moreover, to be successful in the marketing world, I would recommend for you to have this checklist in place. 1. What do you want your position in the Market place to be? 2. Do you have the brand that offers the greatest value? 3. How can you earn your rightful position in the market?
Iacobucci, Dawn. 2013. MM4, Marketing Management. South Western. Cengage Learning.
Written by: Jacinta Tupuola