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DEFINITION

The word Industrial Marketing is also treated as Business-to-Business Marketing, or Business Marketing, or
Organizational Marketing. Industrial marketing/business marketing is to market the products and services to business
organizations: manufacturing companies, government undertakings, private sector organisations, educational
institutions, hospitals, distributors, and dealers. The business organizations, buy products and services to satisfy many
objectives like production of goods and services, making profits, reducing costs, and, so on. Further, industrial
marketing consists of all activities involved in the marketing of products and services to organizations that use
products and services in the production of consumer or industrial goods and services, and to facilitate the operation of
their enterprises.
OBJECTIVES OF INDUSTRIAL MARKETING
The basics of industrial marketing management:
Deciding the target markets
Finding out the needs and wants of the target markets
Developing products and services to meet the requirements of those markets
Evolving marketing programmes or strategies to reach and satisfy target customers in a better and faster way
than competitors.
making profits
reducing costs

CHARACTERISTIC OF INDUSTRIAL MARKETING
The industrial markets are geographically concentrated
the customers are relatively fewer
the distribution channels are short
the buyers (or customers) are well informed
the buying organisations are highly organised and use sophisticated purchasing techniques
The purchasing decisions are based on observable stages in industrial marketing.
Industrial marketing is more a responsibility of general management in comparison to consumer marketing
Selling activities involve long processes of prospecting, qualifying, wooing, making representations, preparing
tenders, developing strategies, and contract negotiations

SCOPE OF INDUSTRIAL MARKETING
Business organizations
Manufacturing companies
Government undertakings
Private sector organizations
Educational institutions
Hospitals
Distributors
Dealers

Relationship marketing (RM) marks a significant paradigm shift in marketing, a movement from thinking solely in terms
of competition and conflict toward thinking in terms of mutual interdependence and cooperation. It recognizes the
importance of various partiessuppliers, employees, distributors, dealers, retailerscooperating to deliver the best
value to the target customers.
Characteristics of Relationship marketing:
It focuses on partners and customers rather than on the companys products.
It puts more emphasis on customer retention and growth than on customer acquisition.
It relies on cross-functional teams rather than on departmental-level work.
It relies more on listening and learning than on talking.

RELATIONSHIP MARKETING AND THE 4 PS

Product
More products are customized to the customers preferences.
New products are developed and designed cooperatively with suppliers and distributors.
Price
The company will set a price based on the relationship with the customer and the bundle of features and
services ordered by the customer.
In business-to-business marketing, there is more negotiation because products are often designed for each
customer.
Distribution
RM favours more direct marketing to the customer, thus reducing the role of middlemen.
RM favours offering alternatives to customers to choose the way they want to order, pay for, receive, install,
and even repair the product.
Communication
RM favours more individual communication and dialogue with customers.
RM favours more integrated marketing communications to deliver the same promise and image to the
customer.
RM sets up extranets with large customers to facilitate information exchange, joint planning, ordering, and
payments.

CLASSIFICATION OF INDUSTRIAL CONSUMERS
Industrial customers are normally classified into four groups:
(i) Commercial Enterprises
(ii) Governmental Agencies
(iii) Institutions
(iv) Co-operative Societies

(1) COMMERCIAL ENTERPRISE -Commercial enterprises are private sector, profit-seeking organisations who purchase
industrial goods and/or services for purposes other than selling directly to
ultimate consumers.
Industrial distributors or dealers -Industrial distributors and dealers take title to goods; thus, they are the
industrial marketers intermediaries; acting in a similar capacity to wholesalers or even retailers. They purchase
industrial goods and resell them in the same form to other industrial customers.
Original equipment manufacturers (OEMs) -These industrial customers purchase industrial goods to
incorporate OEMs into the products they produce. For instance, a tyre manufacturer (say, MRF), who sells tyres
to a truck manufacturer (say, TELCO), would consider the truck manufacturer as an OEM. Thus, the product of
the industrial marketer (MRF) becomes a part of the customers (TELCOs) product.
Users -An industrial customer, who purchases industrial products or services, to support its manufacturing
process or to facilitate the business operations is referred as a user. For example, drilling machines, press,
winding machines, and so on are the products which support manufacturing process, whereas the products
which facilitate the operations of business like computers, fax machines, telephones, and others.

(II) Government Customers -In India, the largest purchasers of industrial products are Central and State Government
departments, undertakings, and agencies, such as railways, department of telecommunication, defense, Director
General of Supplies and Disposal (DGS&D), state transport ndertakings, state electricity boards, and so on. These
Government units purchase almost all kind of industrial products and services and they represent a huge market.

(III) Institutions - Public and private institutions such as hospitals, schools, colleges, and universities are termed as
institutional customers. Some of these institutions have rigid purchasing rules and others have more flexible rules. An
industrial marketing person needs to understand the purchasing practice of each institute so as to be effective in
marketing the products or services.

(IV) Cooperative Societies - An association of persons forms a cooperative society. It can be manufacturing units (e.g.
Cooperative Sugar Mills) or non-manufacturing organisations (e.g. Cooperative Banks, Cooperative Housing Societies).
They are also the industrial customers.

CUSTOMER RELATIONSHIP MANAGEMENT
The principles, practices, and guidelines that an organization follows when interacting with its customers. From the
organization's point of view, this entire relationship not only encompasses the direct interaction aspect, such as sales
and/or service related processes, but also in the forecasting and analysis of customer trends and behaviors, which
ultimately serve to enhance the customer's overall experience.
The essential CRM focus of any organization should be on developing core competencies, and an overall
strategy of building customer relationships. In this way, all efforts in the organization can be aligned to:
customers and the culture of exceeding of customer expectation
understanding and managing the people impact on the culture of the organization
customers being recognised and treated as partners
the value of relationship-building being valued
service being seen as a value-adding activity
reward and recognition being based on customer focus ie., 'going the extra mile'
evidence of corporate support for service activity

CHARACTERISTIC OF CRM
The following characteristics are associated with delivery of excellent CRM:
Reliability
Responsiveness
Accessibility
Safety
Courtesy
Consideration
Communication
Rcognising the customer
Competence

BENEFITS OF CRM
There are significant business benefits which accrue from an effective, integrated Customer Relationship Management
approach. These include:
reduced costs, because the right things are being done (ie., effective and efficient operation)
increased customer satisfaction, because they are getting exactly what they want (ie., exceeding expectations)
ensuring that the focus of the organization is external
growth in numbers of customers
maximisation of opportunities (eg., increased services, referrals, etc.)
increased access to a source of market and competitor information
highlighting poor operational processes
long term profitability and sustainability

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