Question:
Section A: 36 Marks – answer six short answer essays. Each essay is worth 6 marks each
1: In your response, what do you understand by the B2B marketing concept of Service Dominant Logic (SDL)? (3 marks) Give two examples of B2B companies that embrace SDL logic in their business operations. (3 marks)
2: In your response, what is the importance of market sensing for the B2B marketer? (3 marks) What is the potential impact of a mistake in market sensing? (3 marks)
3: In your response, discuss the challenges faced by business marketers in gaining new and retaining existing customers. (3 marks). With regard to lead to revenue management what are the challenges faced by the B2B marketer? (3 marks)
4: In your response, explain what the “business market management process” is and what advantages a company can gain by embracing value as the cornerstone of its operation. (2 marks). Illustrate your answer by giving an example of one company that has focused on value in business marketing, and what changes were achieved through adopting these business market management process improvements. (4 marks)
5: In your response, define what a “Digital platform is? (1 marks) What are the three various strategies for developing a digital platform strategy? (2 marks) Give an example of B2B Digital platform and describe its value proposition. (3 marks)
6: In your response, define what a modified rebuy is? (2 marks) Explain why would a company engage in a modified rebuy for a product that was performing satisfactory. (4 marks)
Section B: Case study – 14 marks
Word limit: 600 words
Case study: Vscan – G E Healthcares’s Pocket- Sized Imaging Device
“This could be the stethoscope of the 21st century, “ observed GE’s CEO Jeffrey Immelt, as he demonstrated the device at a San Francisco technology conference. Roughly the size of a smartphone , GE Healthcare’s Vscan device incorporates powerful ultrasound technology to provide physicians with imaging capabilities at the point-of-care. The device may be used by primary care doctors to more quickly diagnose ailments such as gallstones, by critical-care workers to quickly confirm symptoms such as fluid on the heart, and by cardiologists trying to determine how well a heart is pumping. Vscan is portable and can be easily taken form room to room, facilitating its use in many clinical, hospital, emergency medicine, or primary care settings.
The innovative product was developed by GE Healthcare engineers from around the world, led by a new product development team in Norway. Vscan represents one of the first innovations to issue from a major strategic initiative at GE Healthcare termed “healthymagination.” Under this vision, GE plans to invest $10 billion by 2025 in the development of innovations focused on reducing costs, increasing access, and improving the quality and efficiency of health care around the world.
The $8000 Vscan device, which offers image quality equivalent to that of a far more expensive midrange ultrasound console also produced by GE, has received approval from the U.S Food and Drug Administration and from regulator bodies in Australia and Europe.
Answer the following questions:
- Does the Vscan represent a breakthrough innovation? Will it cannibalise sales of GE Healthcare’s more advanced and much bigger-priced imaging equipment? (4 marks)
- What marketing strategies should GE Healthcare follow to speed the adoption of Vscan in the United States and around the world? (6 marks)
- Develop a value proposition for the Vscan.(4 marks)
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