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industrial marketingthe MARKETING of goods and services to INDUSTRIAL BUYERS. The major characteristics of industrial marketing are that:
- industrial buyers tend to be fewer and possess greater bargaining power than final consumers;
- DISTRIBUTION CHANNELS tend to be more complex, with more intermediate steps in production, wholesaling and retailing than for consumer goods;
- the sales force in most cases needs to have a detailed technical knowledge of the products/services in which they are dealing because of the generally greater complexity of industrial products;
- PERSONAL SELLING plays a greater role in marketing industrial products and sales representatives have to make more pricing decisions on discounts and spend more time demonstrating products and dealing with technical queries;
- the PROMOTIONAL MIX for industrial goods tends to be different from that for consumer goods, with little use of MASS ADVERTISING MEDIA and greater emphasis on PERSONAL SELLING and on targeted advertising through trade/professional journals, industrial directories, direct mail, and samples and brochures. See BUYER BEHAVIOUR.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson