Definition of Industrial Marketing

Industrial marketing is also referred to as business to ‘business marketing ‘, or’ business marketing ‘,or’ organisational marketing’. Industrial marketing (or business marketing) is the marketing of products and services to business organizations. Business (or industrial) organizations include manufacturing companies, government undertakings, private sector organizations, educational institusions, hospitals, distributors, and dealers. Business organizations buy products and services to satisfy many objectives like production of other goods and services, making profits, reducing cost, and so on. In contrast, consumer marketing is the marketing of products and services to individuals, families and household. The consumers buy products and services for their own consumption.

The companies that sell, machine tools, computers, courier services, and other goods and services to business firms need to understand the buyers needs, resources, politics, and buying procedures. The important point in business marketing is to create value for the buying organizations with products and services that focus on buying organizational needs and objectives. For example, a company manufacturing and marketing precision steel tubes to bicycle manufacturers is doing business marketing. Industrial marketer of the precision steel tube company, must understand the needs of bicycle manufacturers such as Hero Cycle and Atlas Cycle, in terms of their quality requierements, applications of tubes, availability or delivery on daily or weekly basis, and so on.

Similarly, a small and proprietary firm, giving technical advice to paint-manufacturers is also doing business marketing.