An Assignment On

UNDERSTANDING INDUSTRIAL MARKET

NAME OF STUDENT

: Dimpal R Javiya

ROLL NO

: 22

SEM

: second

BATCH

: 2011-2013

SUBJECT

: Marketing management

YEAR

: 2010-2012

GUIDED BY

: DR Jay Badiyani

SUBMITTED TO

: DEPATEMENT OF BUSINESS ADMINISTRATION FACULTY OF MANAGEMENT, BHAVNAGAR UNIVERSITY, BHAVNAGAR

DATE SIGNATURE :

: 12/03/2012

AN ASSIGNMENT ON UNDERSTANDING INDUSTRIAL MARKET

Industrial marketing is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw materials. [1] Introduction[2] There are two important issues to consider: a. the customer decision-making process b. the influences on customers decision-making. By understanding both the processes involved in customers buying decision making and the influences on these processes, marketers can more effectively use the marketing mix to influence customers. Influences on consumer behavior[3] Factors influence consumers purchasing, since changes in these could affect demand for the marketers product. Such factors can be actively manipulated by the marketer in order to improve sales. An important aspect of this process is understanding consumer buying behaviour. A useful framework can be the dimensions of buying behaviour, consisting of the following factors: cultural social personal psychological. Cultural factors Cultural factors are one dimension of buying behaviour, because they influence a consumers choice of product. Social factors Groups comprise two or more people who interact to accomplish either individual or mutual goals Personal factors Apart from cultural and social factors, an individuals purchasing activity will be determined by their age. Psychological factors Although two people may be exactly the same in terms of education, income and occupation, their consumption may nevertheless differ because of psychological factors. Industrial Distributors: [4] These organizations act as middlemen providing the economic utilities of form, time, place and possession to manufacturers and segments of customers of these manufacturers. Business marketers often elected to use middlemen to reach customers whose purchase volumes do not

justify direct sales efforts. The creation of assortments of product from many manufacturer to closely match the needs of customer segment is a major added value of middlemen. Industrial marketing channels[5]

Value of comparisons in industrial advertising Industrial advertisers should appeal to the rational side of their customers and prospects, rather than to buyers emotions. In industrial or business to business selling, it has to be less important because those purchases must necessarily be more rational has emotional. [6] Consumer market and buyer behavior[7] Whether it is consumer or industrial markets that are being considered, there is a distinction between consumers and buyers. Whereas buyers actually make the purchase, it is consumers who use the product. Marketers need to be aware of this and to decide whom they wish to target there exist arguments for believing that the purchasing firm may seek to reduce its costs and increase its benefits by developing stable relationship. Industrial markets and organisational buying behavior[8]
Business buying is an increasingly important market. This increase in purchases from third parties has been accompanied by increasing emphasis in the marketing literature on the benefits of long-term, co-operative relationships between industrial buyers and sellers

Channel levels consist of consumer marketing channels or the industrial marketing channels. A factor common among both channel levels is that both include the producer as well as the end customer.[9]

REFERENCES: 1. Industrial marketing - Wikipedia, the free encyclopedia files 2. BUSINESS BUSINESS MARKETING ANALYSIS AND PRECTICE in a dynamic environment, THOMSON, south-western. Page no. 35 3. Business marketing management-Michael D. Hutt, Thomas W. Speh. THOMSON INDIAN EDITION, page No.418 4. Marketing Managent, Vol.13, Kotler P. 5. Marketing Managent, Vol.8, Kotler P. 6. Kotler, P. and G. Armstrong Principles of Marketing. 7. Hkansson, Hkan, 1947,International marketing and purchasing of industrial goods. 8. : http://www.marketing91.com/channel-levels-consumer-industrial-marketingchannels/[10-03-12,7:45pm] 9. http://www.slideshare.net/FNian/b2-b-industrial-mkts-presentation[11-03-12,10.00am] 10. http://www.ecreativeim.com/industrial-seo[11-03-12,10.05am] 11. http://industrialmarketingadvisers.com/[11-03-12,10.10pm] 12. http://www.scribd.com/doc/7008461/Industrial-Marketing.[11-03-12,10.30pm] 13. http://www.marketingpower.com [11-03-12,10.30pm] 14. Mitchell, A. The VALS Typology in Enis, B.M. and K.K. Cox (eds) Marketing 15. Schiffman, L.G. and L.L. Kanuk Consumer Behaviour 16. Webster F.E. and Y. Wind A General Model for Understanding Organisational Buying Behaviour in Enis, B.M. and K.K. Cox (eds) Marketing Classics