Business Relationship Management Marketing -Myassignmenthelp.Com

Question: Discuss About The Business Relationship Management Marketing? Answer: Introducation Effective management of a network position refers to maximally utilizing the interrelationship a company or an organization has with companies in the industry. The position the company enjoys in the market should be well used or utilized by the company in order to assist in meetings its objectives. A company with good network position in the market should be able to identify its strengths and build on it as it expand or consolidate the position it enjoys in the industry. Network position can involve both local and international companies such that a an international company such as Procter and Gamble (PG) occupies a certain position in the market such that it can influence both companies in the country of origin that is the USA and other international companies within the same industry but located in different countries. (Daniels, Radebaugh Sullivan, 2011) Effective management of network position can therefore mean a company utilizing its niche in the industry to influence even the international companies. To effectively use this position companies need to make sure that timing of its products and service is appropriate not coming too early as it should or too late when the market is already saturated. For example, CFM International being the leading Turbofan airplane engine manufacture should ensure that it leads the market from the front by timely delivering the newer and improved version of the Turbofan engine to the market without coming in too early when could still enjoy the sales of the previous engine model or coming in too late when other companies have launched new versions of the same airplane engine. Thus to effectively manage network position any company with such an opportunity should pay great attention in its timing in all the major decisions it may want to undertake. (Geringer, Ball, Minor McNett, 2013) The company should also ensure that it utilizes partnerships with its peers and other companies in the industry. The company should ensure that it negotiate for favorable deals with the suppliers in the market such that the goods and services needed by the company for it to deliver its products in the market are of good quality and affordable price. The good quality will ensure that the company will deliver products to the market which are of high quality which will make more like the product. This will in turn ensure that the company continues to consolidate its position in the network even further. Affordable prices will ensure that the company gets bigger profit margin in the market thus increasing its profitability. The more the profits the company makes the better it can be able to expand to new markets and also make maximum returns to investment. The company can also utilize the loyalty customers have in its products or services by seeking to engage them more and further making them get used to company products such that it will be hard for a different company to convince them to embrace a different product more than the previous company. The best way to do this is by continually improving on the quality of the product through research and development as well as feedback from the clients on what they would like added, removed or adjusted in the product. (Dlabay Scott, 2011) A powerful relation plays a central role in effective management of a network position. Without a powerful relationship a company may not influence anything in the industry because it lacks the ability and goodwill to do so. For example, a company like Rolls-Royce the company has powerful relationship with its customers because they trust its products. Without the longstanding service and consistently producing quality products in aviation and marine energy the company wouldnt have been able to command such position in the market. (Sturdy, 2012) The power of trust it has from the customers can make the company launch a completely new product and the market would still embrace it as opposed to when the same product is launched by a new comer in the market or a company in aviation industry that has not established itself well in the market. Thus for effective management of a network position powerful relationship with stakeholders in the market or the industry must be in place. (Rugman , Collinson Narula, 2013) Powerful relationship also enables a company to influence its suppliers to deliver certain kind of products with certain specification. If a for example Rolls-Royce is leader in the market then it follows that it is one of the major buyers of materials form the suppliers in the industry. Thus since it purchases a huge number of materials from the suppliers the company has power to dictate terms and conditions to the suppliers to suit their operations and market demands. This power is drawn from the fact that the company is major market for suppliers and thus the suppliers will have no choice but abide by the consumer taste and behavior in the market. Thus without powerful relationship Rolls-Royce can not effectively manage network position. (Roberts-Phelps, 2014) A company can also influence its peers in the industry to create partnership such that these companies can leverage on the strengths of one another. To ensure that such partnerships came into fruition the company that begins the negotiation must power in such as way that it can offer the next company something that they do not have. The mutual benefit between the companies makes the relationship powerful such that both companies can be able to effectively manage network position in the industry. Without out such strengths in the relationship the two companies will not see the importance of collaborating together and thus each one of them will not be able effectively manage the their respective network position. Thus a strong relationship is always at the center of network position and how the same can be utilized in the best way possible. (Kleinaltenkamp, 2016) References Daniels, J., Radebaugh, L., Sullivan, D. (2011).International business(1st ed., pp. 5-11). Dlabay, L., Scott, J. (2011).International business. Mason, OH: South-Western Cengage Learning. Geringer, J., Ball, D., Minor, M., McNett, J. (2013).International business(1st ed., pp. 4-17). Kleinaltenkamp, M. (2016).Business relationship management and marketing. [S.l.]: Springer-Verlag Berlin An. Roberts-Phelps, G. (2014).Customer relationship management(1st ed., pp. 4-18). London: Thorogood. Rugman, A., Collinson, S., Narula, R. (2013).International business(1st ed., pp. 2-17). Sturdy, G. (2012).Customer relationship management using business intelligence. Newcastle: Cambridge Scholars.