Industrial marketing is a kind of marketing that is characterized by the type of market and product to which the basic principles of marketing are applied, since its field is the industrial sector, market strategies must be oriented to highlight the benefits techniques of the product in relation to its price of sale.
This kind of marketing arises as a consequence of globalization, where market specialization is an increasingly evident trend throughout the world. The complexity of technologies and scientific development has created an industrial sector that is increasingly segmented and specialized, which is why industrial marketing was born in response to the needs of the market for specialized industrial products.
Here are some of the characteristics that differentiate industrial marketing from consumer marketing:
Its small number of clients means that industrial products are destined for a very small sector, if we compare it with the consumer sector.
Greater importance is given to the client, it refers to the fact that as the market is so limited and consumers are specialized professionals, they tend to be a little more demanding; they are generally people with economic power and a high negotiating command.
Intermediate products, means that industrial products are intermediate goods, that is, they are in the middle of the value chain.
Marketing of industrial products is a kind of communication marketing, whose function is to provide detailed information about the product, in this way, the strategies applied by marketing managers are the following: publication of technical product catalogs, participation in fairs sectorial, sending advertising propaganda about the news of the product. Invitations to events (technical conferences, fairs where the company participates, etc.)
When offering and selling industrial products, the persons in charge must have all the necessary technical documentation (manuals, operational brochures, etc.), in addition to having a technical vocabulary of all the terms and procedures, so that the client has a broader view of the product. The four Ps (price, product, place, promotion) should always be kept in mind even if they are used differently in consumer marketing.
