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Masterclass on Beyond the Contract: Crafting Profitable B2B Relationships | Bangalore | Sept 2, 2017

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MYRAMC-SudhindraSheshadri2017

MYRA School of Business

presents

MASTERCLASS

Beyond the Contract: Crafting Profitable B2B Relationships

by

Dr.Sudhindra Seshadri

Senior Associate Dean & Distinguished Professor of Marketing, MYRA School of Business

Ph.D.-Pennsylvania State University

 

Venue: Hotel Royal Orchid Hotel, #1, Golf Avenue, Adjoining KGA Golf Course, HAL Airport Road, Kodihalli, Bangalore - 560 008.

Date and Time: Saturday, September 2, 2017 | 03:00 PM to 06:00 PM

Report

MASTERCLASS on ‘Beyond the Contract: Crafting Profitable B2B Relationships’

Dr.Sudhindra Seshadri, Senior Associate Dean & Distinguished Professor of Marketing, MYRA School of Business

Ph.D.-Pennsylvania State University

Bangalore, September 2, 2017

In an amazing 3-hour Masterclass, Dr. Sudhindra Seshadri, Ph.D.-Penn State Smeal, Senior Associate Dean, MYRA School of Business, presented the shiny new research-based model on optimising the relationship spends with the B2B clients, which runs into many millions of dollars in large organizations.

While the objective of any business relationship is to “Buy low and Sell High”, Contracts are critical to mitigate the risk and to establish a mutually beneficial relationship. Dr. Seshadri explained various types of contracts and emphasised on the need to go beyond the contracts for establishing and leveraging the relationships, evaluating the benefits and costs in the B2B markets.

Dr. Seshadri explained the basic premise of the model that organizations need to look at the Marketing and Sales funnels in parallel, and not sequential as in the traditional business models.

Cross-selling and up-selling in the key accounts require a considerable amount of time, effort and money to build and leverage the relationships. That said, many organizations spend on marketing and business development more by thumb-rules and assumptions, than by any scientific correlation between revenues and spends, or the effectiveness of the spends. Hence it necessitated a model to at least create “benchmarks” for various relationship components, in order to evaluate the spends against the revenues generated.

Dr. Seshadri elaborated the work that he and his team have done, taking forward the research that he commenced in 2001, to build a 9-components model for “Relationship Continuity”, that would evaluate the correlations of spends vs revenues and profitability, using big data, and would provide a guideline for the organizations to put the right amount of money at the right places.

Finally, Dr. Seshadri brought out the relationship between Strategy and Structure in the organizations, and how the design of organizations to align transactional and relationship-driven roles would enhance effectiveness.

The program was well-received by the audience comprising of senior corporate leaders, academicians, legal, accounting, marketing and sales professionals, as well as entrepreneurs and students.

Participants’ feedback sample:

  • “Depth of knowledge and communication clarity of the Professor – outstanding”
  • “Increased my urge to explore more about this subject”
  • “Very educative”
  • “Coming from a legal background, it was interesting for me to understand the modalities involved in bringing the parties together to a contract”

Photos

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