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Industrial Business Relationships And Networks" Essay

3273 words - 13 pages

"Industrial Business Relationships and Networks"-The well sounded name of this course.But what does it mean at all? What was the purpose of the course and what kind of knowledge could we collect during the class?In times of Globalization and a world without borders it is rather important for every company (companies on the domestic market as well as companies which are dealing on the global market) to provide an international network as well as to knowBut how is that to manage? What are the managerial implications for network decisions, how important is the human factor in such network connections and what means that for the companies marketing? Only a couple of several questions I will try to answer.First of all I want to write some words about the class of that course and second, I try to give you a short overview about the made literature experience we made.I. CLASS - OVERVIEWThe purpose of the course was to summarize the key messages of the Industrial Business Relationships and Networks (Incl. Relationship Marketing from a Strategic Perspective)During the class we dealt the following topics.-Marketing, Business Models & Value CreationDefinition of a business model:A business model is a kind of architecture for the selling product as well it indicates information flows and includes a description of various business actors and their roles. Furthermore it is a description of potential benefits for these various actors, and a description of the sources of revenue.But how can you estimate/understand the value of a company or value creation at all?There are different types of values, for instance, it is important to understand the customer's value creation process before to estimate its own company value. Both are linked together and dependent on each others company value as well. Therefore the idea of Integrated Value Creation Process, that means that both parties should adapt their process to each other so that value is created for both. Interactive communication between both parties deepest know how and absolute customer satisfaction are assumptions for that model.-Marketing on the Network EconomyIf we take a look on the linking points of Relationship Marketing and the Network Economy considering that new technology and aspects are making radical changes in internal and external corporate mechanisms and priorities. Marketing has been dominated by the marketing mix ("4 Ps") management paradigm for more than 40 years; today this paradigm is beginning to lose its position. Globalisation, network-based communication and information systems have resulted in changing the focus of partner and consumer management.Changes happen at and across different levels of analysis in the economy. Nowadays it happens permanently in the global economic system as a whole, in industries, networks, relationships as well as in firms and other organizations. Therefore there is an increased need to identify and follow changes at the relevant levels of analysis. Today,...

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