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Chapter Code: IMC18
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A set of two or more connected business relationships is referred to as a business network. Firms in a business network have direct (primary) relationships with their customers, suppliers, partners, etc. They also have indirect relationships with other members. A change at one end of the business network can have repercussions on firms at the other end of the network. |
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Technology plays an important role in the success of a business network. Industrial firms make use of product technology, process technology, and market technology. The development, adaptation, existence, use, and commercial exploitation of any technology are all embedded in the context of the business network.
This embeddedness leads to a few issues in technology management that are relevant to network relationships. The issues are – management of knowledge, extent of control, impact of change, and need for bundling. Technological development also affects the existing relationships among network members.
Industrial marketing has undergone tremendous changes thanks to developments in technology. Information technology has led to the e-marketing of industrial products and services. The e-marketing initiatives like online marketing and e-marketplaces have benefited both industrial marketers and their customers.
Innovations such as reverse auctions have given industrial customers a wide choice in the selection of suppliers and also reduced the cost of procurement. The Internet and extranet have enhanced e-collaborations by which enterprises and their units can share information, work together, and effectively coordinate the utilization of resources. On the whole, technology has a profound impact on industrial marketing and the development, growth, and efficient functioning of business networks.
Business Networks in Industrial Marketing
Industrial Network Model
Relationships in Business Networks
Economic and Social Dimensions of a Relationship
Development of Interactions and Relationships
Technology and Business Networks
Technology Management in Business Networks
Information Technology in Industrial Marketing
Online Marketing
Electronic Marketplaces
E-collaborations
