2. What is Marketing
• Marketing is the science and art of
identifying, creating, and delivering value
to satisfy the needs of a target market at a
profit. Marketing identifies unfulfilled
needs and desires. It pinpoints which
segments the company is capable of
serving best and it designs and promotes
the appropriate products and services
3. What is Marketing
• Marketing is often performed by a
department within the organization. This is
both good and bad. It’s good because it
unites a group of trained people who focus
on the marketing task. It’s bad because
marketing activities should not be carried
out in a single department but they should
be manifest in all the activities of the
organization.
4. What is Marketing
Marketing is the social process by which
individuals and groups obtain what they need
and want through creating and exchanging
products and value with others.
Kotler
Marketing is the management process that
identifies, anticipates and satisfies customer
requirements profitably
The Chartered Institute of Marketing
(CIM)
5. What is Marketing
The right product, in the right place, at the
right time, at the right price
Adcock.
6. Industrial marketing
• The basic concept of marketing remain the
same for both the consumer marketing
and industrial marketing. However there
are differences between consumer
markets and industrial markets. These
differences must be understood well by
industrial marketers, who want to reach
and satisfy the customer batter and faster
then their competitors in order to achieve
the corporate objective.
7. What is Industrial Marketing
• Industrial marketing is also referred to as
business to business (B2B) marketing or
business marketing or organizational
marketing. Industrial marketing is the
marketing of products and services to
business organizations. Business
organizations include manufacturing
companies, educational institutions,
hospital, distributors and dealers.
8. Difference between Industrial Consumer Marketing
Sr. Areas Industrial Consumer market
No Marketing
1 Market Geographically Geographically
Characteristics concentrated disbursed
Relatively fewer Mass market
buyer buyers
2 Product Technical complexity Standardized
Characteristics
Customized
3 Service Service, timely Service, timely delivered
Characteristics delivered & & availability somewhat
availability very important
important
9. Difference between Industrial Consumer
Marketing
Sr. Areas Industrial Marketing Consumer market
No
4 Buyer Behaviour Involvement of various Involvement of family
functional areas in both members
buyer & supplier firms
Purchase decisions are
Purchase decisions are mostly made on
mainly made on physiological/social/
rational/performance physiological needs
basis
Less technical expertise
Technical expertise
Non-personal relationship
10. Difference between Industrial Consumer
Marketing
Sr. Areas Industrial Consumer market
No Marketing
5 Channel More direct Indirect
Characteristics
Fewer Multiple layers of
intermediaries/middle intermediaries
men
6 Promotional Emphasis on Emphasis on
Characteristics personal Advertising
selling
7 Price Characteristics Competitive bidding & List prices or
negotiated prices maximum retail price
(MRP)
List prices for
standard products
