Strategic Marketing Planning for a B2B High-Tech Manufacturer

Abstract

Manufacturing companies in the B2B high-tech sector are facing challenges in adapting to changes in the international and increasingly competitive market environment of today. Strategic marketing management has an important role in creating and delivering value to customers. B2B companies that adopt strategic marketing practices are winning the race for market share. The aim of this study is to create a marketing strategy for Company X, in order to secure its leading position and to increase its market share in Sector X in the Finnish market. The literature review, consisting of strategy and marketing theories, provides a theoretical background for this study. Several other non-academic sources of information by field experts, related to strategy process, strategic marketing, brand management and B2B buyer behavior, are used for providing a more recent point of view to this study. They also yield crucial information which cannot be covered by academic theory alone, such as future scenarios of the Finnish market. The research context consists of a customer survey, and interviews with employees of Company X. Their results are used in analyzing the market, competitors and customers of Company X. The findings based on both the theoretical framework and the research are then used in visualizing the external and internal, as well as the micro and macro environment affecting Company X, in form of strategy tools. Furthermore, the key success factors and key weaknesses of Company X are identified. By using the methods of segmentation, targeting and positioning, they lead the formulation of a Marketing Mix for Company X. Finally, the summary and conclusions are drawn on the results, and findings of the study are discussed further. As a conclusion, the study provides an outline for a marketing strategy for Company X in Finland and emphasizes the importance of strategic marketing management in a B2B high-tech company, as an integral part in the success of the corporate strategy.