Industrial marketing

Business marketing is also known as industrial marketing or business-to-business (B2B) marketing.

Indicators such as the sales tunnel give information on the expected sales in the near future, the hit rate indicates whether the sales organization is busy with promising sales leads or it is spending too much effort on projects that are eventually lost to the competition or that are abandoned by the prospect.

Due to the high costs involved with making proposals the hit rate is a very useful tool especially for companies in industrial marketing.

Industrial marketing (or business-to-business marketing) is the marketing of goods and services by one business to another.

For example, an electronic component seller may distribute its products through industrial marketing channels (see Channel (marketing)), but also support consumer sales.

A 2018 study conducted by Thomasnet.com and the research firm Strategyn revealed that the industrial buying process involves 15 distinct steps:

This is very similar to the inbound process of inbound marketing.

In solution selling, it is essential that sales staff explore the client's requirements in depth before presenting a solution.

Marketing supports solution selling through methods like account-based marketing—understanding a specific target organization's requirements as the foundation of a marketing program.

Sales force management has a critical function in industrial selling, where it assumes a greater role than other parts of the marketing mix.

In industrial marketing personal selling is still very effective because many products must be customized to suit the requirements of the individual customer.

Indicators such as the sales tunnel give information on the expected sales in the near future, the hit rate indicates whether the sales organization is busy with promising sales leads or it is spending too much effort on projects that are eventually lost to the competition or that are abandoned by the prospect.

Indicators such as the sales tunnel give information on the expected sales in the near future, the hit rate indicates whether the sales organization is busy with promising sales leads or it is spending too much effort on projects that are eventually lost to the competition or that are abandoned by the prospect.

The dot-com boom and bust of the late 90's saw significant attempts to develop online shopping.

In the late 20th century, the study of business networks emerged in the field of industrial markets.

The Industrial Marketing and Purchasing Group or International Marketing and Purchasing Group (abbreviated IMP Group) is a European research initiative in the field of Industrial marketing established in 1976 by researchers from different countries and universities in Europe.

Ingredient-branding takes a special position in marketing, as it cannot be clearly allocated to either industrial or consumer goods marketing.

Robots are widely used in manufacturing, assembly, packing and packaging, mining, transport, earth and space exploration, surgery, weaponry, laboratory research, safety, and the mass production of consumer and industrial goods.

In the 1983 article "Research on Producer Goods Distribution in Sweden" gave his view on the state of the art of on his field of research, the industrial marketing:

He is a holder of an MBA from Ohio State University, an Executive MBA in Industrial marketing from IAE Universidad Austral in Buenos Aires, Argentina and an Executive Leadership from Harvard.

In industrial markets, organizations regard the 'heavy users' as 'major accounts' to be handled by senior sales personnel and even managers; whereas the 'light users' may be handled by the general sales force or by a dealer.