Technical knowledge as value added in business markets: implications for procurement and marketing

Article Abstract:

For many businesses, competitiveness is highly dependent on the technical knowledge of its operating personnel. This article presents the view that vendors able to to offer cutting-edge technological expertise relevant to customers' operations as part of their overall "bundled" offering add more value for customers than competitors emphasizing product supply alone. Concurrently, it is suggested that purchasing and materials management should view technical knowledge as a strategic resource and adopt procurement strategies that encourage knowledge acquisition. An exploratory study was undertaken to determine the degree to which technical knowledge is linked to more desirable decision-making styles and outcomes using a sample of key buying center members (operating/manufacturing managers). The results of a mail survey indicate that higher levels of technical knowledge are linked to more desirable decision styles and decision outcomes, suggesting that managers' technical knowledge is an important asset for firms with manufacturing or process operations. Implications for procurement and marketing are discussed. (Reprinted by permission of the publisher.)

Research, Purchasing, Marketing management, Business-to-business market, Business to business market, Value added, Technical communication, Communication of technical information

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Implementing Relationship Strategy

Article Abstract:

Managers responsible for implementing a successful relationship strategy are confronted with skepticism from an organization's functional managers. This adversarial approach to doing business needs to be replaced with new methods built on trust and commitment.

Methods, Management

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