Description:
Basic concepts of marketing; basic concepts of industrial marketing; industrial markets; organizations purchasing behavior, a system of purchasing decisions; strategic planning of industrial marketing and segmentation of industrial market; the product and distribution in industrial marketing; pricing and promotion in industrial marketing.
Overview:
Industrial marketing (or also known as business-to-business marketing) is the marketing of goods and services from one business to another. Industrial goods are those an industry of uses to produce an end product from one or more raw materials. The term, industrial marketing has largely been replaced by the term B2B marketing (i.e. business to business marketing).
Marketing is the process of intentionally stimulating demand for and purchases of goods and services; including the selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of advertising campaigns; attendance at trade shows and public events; design of products and packaging to be more attractive to buyers; selection of the terms of sale, such as price, discounts, warranty, and return policy; product placement in media or with people believed to influence the buying habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts to create awareness, loyalty, and positive feelings about a brand.
The marketing mix, which outlines the specifics of the product and how it will be sold, is affected by the environment surrounding the product, the results of marketing research and market research, and the characteristics of the product's target market. Once these factors are determined, marketers must then decide what methods will be used to promote the product.
It is one of the primary components of business management and commerce. Marketers can direct their product to other businesses (B2B marketing) or directly to consumers (B2C marketing). The term marketing, commonly known as attracting customers, incorporates knowledge gained by studying the management of exchange relationships and is the business process of identifying, anticipating, and satisfying customers' needs and wants.
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Topics:
CONCEPTS OF INDUSTRIAL MARKETING
1. Introduction to Industrial Marketing
a. Introduction
b. Industrial Classification
c. Industrial Demand
d. Cross-elasticity of Demand
e. Industrial Marketing vs. Consumer Marketing
2. Nature of Industrial Marketing
a. Industrial Market
b. Important Feature of the Industrial Market
c. Need for Understanding Industrial Market
d. Industrial Customers
e. Classification of Industrial Products and Services
f. Industrial Purchasing System
3. Industrial Marketing Environment
a. Introduction
b. Business Environment
c. Factors Affecting the Industrial Marketing Environment
d. Managing the Industrial Marketing Environment
4. Industrial Buying and Buying Behavior
a. Introduction
b. Purpose of Industrial Buying
c. Decision Process
d. Buying Center
e. Major Buying Decisions Taken by Business Buyers
CURRENT TRENDS RELATED TO INDUSTRIAL MARKETING
1. Industrial Market Segmentation, Targeting, and Positioning
a. Introduction
b. Market Segmentation
c. Target Market
d. Evaluation of Market Segmentation
e. Selecting the Target Segments
f. Target Market Strategies
g. Niche Marketing
h. Positioning
2. Industrial Product Decisions
a. Introduction
b. Factors for Change in Product Strategy
c. Marketing Strategies During the Different Stages of Production Life Cycle
d. New Product Development
e. Marketing of Industrial Services
f. Classification of Industrial Services
g. Marketing Strategies for Industrial Service Firms
3. Industrial Pricing and Distribution Channels
a. Characteristics of Industrial Prices
b. Factors Affecting Pricing
c. Industrial Pricing Policies
d. Factors Affecting the Nature of Industrial Channels
e. Industrial Distribution or Dealers
f. Factors Influencing Channel Design
4. Industrial Communications and E-Business
a. Communication Mix
b. Developing Industrial Communication Program
c. Role of Industrial Advertising and Sales Promotion
d. Publicity and Public Relations
e. Role of Direct Marketing
f. E-Commerce
g. Important parts of E-Commerce
h. Business to Business Forms of E-Commerce
i. Marketing Strategy for the Electronic Marketplace
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