Business Communication of an Engineering Company on a Global Market
International marketing is a very huge area that relates to planning, promotion, distribution and pricing of goods, ideas and services. B2B marketing, which has a set of significant differences from the B2C sphere, has a special role to play on the global stage.
In comparison with B2C, B2B marketing has specific structure and demands, such decision-making process based on organizational needs and rational criteria and closer relations between the customer and the supplier. Moreover, the pricing policy is different from the B2C market, especially in the machinery and engineering area, and includes a cost plus method, when a certain profit margin is added to the product costs in order to determine the product price. All of this creates the need for building closer and more flexible communication, aimed to resolve possible disputable issues, initiate dialog and achieve agreement about prices and conditions.
The central role in B2B marketing belongs to business negotiations that are key element of marketing success. But because of different backgrounds, cultures, and aims, the process of negotiations can be a real challenge for both sides and to make it effective, to achieve desired results, a negotiator should have a complex set of skills and techniques.
My research focuses on the most important elements of negotiations, personal skills of a negotiator and their influence on the process.
I have decided to do small-scale research in real life environment of a Russian manufacturing engineering company. My investigation consists of interviews, a survey and analysis of its results. I have invited heads of four departments to participate in my survey: technical, sales, research and development, and procurement. Also there are top and middle sales managers, representatives of our suppliers from China and Italy.
My aim is to understand what strategies and tactics are common and more effective and what personal and professional skills can help a negotiator achieve the highest result during negotiations.