Vol: 3, Issue: 1 2013

Page: 093-098

Study of Industrial and Consumer Marketing

Badwaik Kavita Namdeo

The basic concepts of marketing (in terms of exchange processes between buyers and sellers) remain the same for both the consumer marketing and industrial (or business) 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 customers better and faster than their competitors, in order to achieve the corporate objectives. Industrial or business marketing is a dynamic and challenging area that presents opportunities for the application of marketing concepts and principles. To market effectively in an industrial market, we must understand the nature of industrial marketing which functions differently, in many respects, from consumer marketing. It is therefore necessary to study industrial marketing for those who are planning a career in industrial marketing.