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What is Industrial Marketing?

Industrial marketing is also recognized as a business to business marketing, i.e., B2B marketing. This is a branch of sales and marketing that provides goods & services from one business to one more business. In this type of marketing, instead of providing products and services straight to individual clients, it is supplied to the businesses. Industrial marketing involves the trade of industrial goods. These are the goods which the commercial enterprise utilizes to produce an end product from one or more raw materials.

Industrial Goods are the Product or Services Which are to be Sold for producing other supplies or Services. These Comprose:

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Why is Industrial Marketing Necessary?

• Some companies take on projects which need products on a large scale.
• The best examples of good industrial marketing are furnishing offices, construction work, etc.
• Companies produce products which are of no use to individual clients.
• The local buyers do not need machines or large scale furniture. That is when one business associate with the other for purchasing the large scale products.

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Important Steps in Industrial Marketing

Here are three crucial steps in industrial marketing which students pursuing this course of study needs to follow-

• Creating online communities in social media.
• Choosing the right search engine and the most popular social media.
• Creating very awe-inspiring, informative and short promos and newsletter for email marketing.

The Target Audience of Industrial Marketing

• Government customers – For this type of marketing, various government bodies are also prospective such as government undertakings and public sector units.
• Commercial enterprises – This kind of enterprises in connection with commerce and consists of users and intermediaries. Here the marketer tries to link up and promote a product to the intermediaries and the users.
• Co-operative societies – There are many different types of co-operative society like the manufacturing based co-operative society or the non-manufacturing based co-operative society.
• Institutional customers – For industrial marketing for many companies, the target audience for the institutions likes schools, government hospitals, colleges, etc.

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Industrial Marketing v/s Consumer Marketing

In several parameters, industrial marketing is different from consumer marketing. The major difference between the two can be the quality of products; it requires a lot of technical know-how for the industrial products that are for sale to other business.

They are usually custom-made and contingent on the level of customization; different marketing strategy would be crucial. As compared to the buyers in the consumer markets the industrial buyers are very well-informed. Advertisements can influence the buyers in the consumer market; however, it is not the same as the industrial buyers.

Essentials of Industrial Marketing

The number of buyers is less in the industrial marketing, however, the quantity of the goods and service demanded are large. A long-lasting relationship between the buyer and seller is formed. Due to the process involved and approvals needed the procedure of purchasing is complex. It requires the seller to be in continual contact during the sales procedure and after it. This type of marketing includes good selling skills and influence on the authorities.

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