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Industrial market :
Industrial market Consists of all the individuals and
organizations acquiring goods and services that enter into the production of other products and services that are sold, rented, or supplied to others
Consumer Markets
Widely dispersed Global Consumer Mass Consumption Non Technical Standardised
Market Characteristics
Service Characetristics
Consumer Markets
Involves mainly the end user or the family members Need based. Physiological, Social, Psychological basis. Very less Non personal relationship
Buyer Behaviour
Consumer Markets
Indirect ie through a well appointed Channel partners. Multiple levels Depot CFA Stockist Retailer Emphasis on Advertising Free sampling. Offers.
Channel Characteristics
Fewer Channels at the max Promotional Characeristics Emphasis on personal selling Advt in trade journals, business magazines, Direct mailers, brochures Trade shows, technical seminars
Consumer Markets
MRP Seasonal discounts.
Price Characertistics
Big Process
Short process.
-Study of the different types of customers is important because these groups have different purchasing orientions and Purchasing Practices
Commercial Enterprises
Original Equipment Manufacturers
Users Industrial distributors / dealers : Purchase goods and
resell them in the same form to other industrial customers such as other commercial enterprises, government supply or institutional customers Middle men of the industrial markets.
Government Customers
Government Undertakings - Indian Railways, Banks
Institutional Customers
Public Institutions
determine product needs and describe product specifications search for suppliers assess and select suppliers evaluate overall performance
External factors : Factors affecting industrial buying behaviour: External factors Level of demand economic outlook budget constraints supply conditions political/legal and competitive environmental changes rate of technological change
final consumption. Instead, they make purchases to be used directly or indirectly in meeting the needs of final consumers. Consumer market For direct consumption Buying motive: Differences between consumer market and industrial market
Tend to be smaller Size of purchase: Differences between consumer market and industrial market
More frequent Differences between consumer market and industrial market Frequency of purchase:
with seller Consumer market Businesses that produce products for sale to final consumers often have little contact with customers Buyer-seller relationship: Differences between consumer market and industrial market
support is critical. Consumer market Less complex, standardized; product support is important Product: Differences between consumer market and industrial market