more efficient process of transfer and commercialization of innovation, companies
should actively use new information technologies. Sales professionals can engage the
customer even before it’s need for a new technology. Using social and professional
media channels, they can initiate a further transfer process, providing the customer
with key information about the new technology. For example, using different social
networks, sales managers can identify potential people interested in the technology,
establish business contacts with them, track the activities of the companies of interest,
conduct promotional activities, inform about future conferences and seminars, etc.
One of the distinguishing features of B2B markets is the importance of partnership
and trust.
Perhaps the main problem faced by many companies in the high-tech sector is the
fact that the products they create should replace existing analogues that their potential
customers have already invested in. For example, a few owners of buildings built less
than ten years ago, would agree to invest in a new heating system, air conditioning and
water treatment. At the same time, many developing countries, especially China, are
experiencing a construction and industrial boom today. At once, faced with serious
environmental problems, developing countries are becoming more and more interested
in the implementation of clean technologies. So instead of focusing on existing
markets, companies can create new markets for innovative technologies in developing
countries.
One of the most effective ways to market access in developing countries is the
creation of a joint venture with a local partner. Doing business in developing countries
often requires the adoption of existing rules and traditions. In some countries, personal
relationships may be more important than contracts. In others, the local legal system
may not provide the same protection business, both in the developed countries. In
addition, from a technical point of view, the created product in its original form may
not be suitable for a specific market. For example, it may be too expensive, or not meet
local standards and requirements. Therefore, independent access to the markets of
developing countries can take a long time and require huge resources. At the same time,
the establishment of a joint venture with a local partner can allow a foreign company
to gain access to existing sales channels, increase production capacity, and improve the
technical characteristics of the product.
For example, the New Zealand biotech company LanzaTech signed an agreement
to establish a joint venture with one of the oldest enterprises in China - the Shougang
Group. This agreement provides for the joint construction of a steel mill Shougang
Group processing plant industrial waste in low-carbon fuels. In this case, this project
is fully funded by China.
No buyer of the industrial market wants to risk the reputation in the case of buying
unreliable technology. Moreover, the number of customers in B2B markets is
- 113 -