Industrial marketing or b2b marketing in English is called Industrial marketing or business-to-business (B2B) marketing.
Industrial marketing is marketing activities aimed at selling goods/services to businesses or organizations for direct or indirect use in their activities.
The role of marketing for businesses
Marketing helps businesses understand customers
Conduct market research in different forms to identify customer needs, thereby serving as the basis for other marketing activities such as product development, pricing, product promotion, and branding. , and distribution. To collect market information, businesses can conduct regular information collection through the sales team or point of sale, as well as conduct formal research to collect market information. New technologies such as social networks, AI, and Big Data make it easier to collect large-scale information with millions of customers.
Marketing helps businesses build brands
Branding is an extremely important activity of a business. Branding helps businesses sell products and services at a higher price with greater customer trust. Big brands like Apple and Coca-Cola are worth hundreds of billions of dollars. Industrial marketing helps businesses come up with brand core ideas, define brand personality, build brand identity as well as carry out communication activities to bring information about the brand to customers.
Marketing helps convey information about brands and products to customers
Communication activities are activities that account for a very large proportion in marketing, including advertising activities (outdoors, newspapers, indoors, as well as online advertising tools such as Google Ads, Facebook Ads,...); PR activities, promotional activities to stimulate revenue or website optimization (SEO) activities to appear the company's website on the front page of Google Search... With the development of technology, activities Marketing communication activities are increasingly rich and diverse, breaking down traditional barriers such as geographical and national boundaries.
Marketing helps increase sales
A prerequisite in industrial marketing is to create profitable value for individuals and businesses. Marketing not only meets the needs of customers, but also expands the reach, helping more people know about the products of the business. Thereby contributing to increasing the opportunity to bring their products to more consumers. A good marketing strategy will help increase sales and bring high profits for businesses.
Build and maintain relationships between businesses and customers
Industrial marketing strategies contribute to increasing the presence of businesses in the minds of customers, helping them to understand clearly and accurately about the information and products that the business provides.
Trend-following analysis in human personality, the better you understand the subject, the more trust you will develop. And when customers have put their trust in your brand, they will more easily choose to use your products and services. With marketing, the image of the business will be more popular in the hearts of customers, contributing to building and maintaining long-term relationships. Tools like CRM help businesses manage and exploit customer information better, even provide better information to customers, and thereby build better long-term relationships with customers.
Marketing helps grow your business
Under the development and fierce competition of the market, marketing is like a "support" pillar for the whole business. It plays an important role in determining the growth of that business. No business can survive in the market for a long time without an effective marketing strategy. In particular, marketing also helps to balance the competitive advantages between small and medium enterprises with large enterprises.
Facilitate interaction and search for potential customers
Industrial marketing along with the development of technology and social networking sites make it easier for businesses to interact with customers. In particular, this interaction also shows the influence and value of the business's name, and evaluates whether the marketing strategy is effective or not. In addition, businesses can send information about products and services to customers in the fastest way, reaching more potential customers.
Functionally, today the marketing function has become one of the most important functions of almost every business. Depending on the size and need to promote marketing activities of the business, the business can have 1 marketing department or separate it into a number of functional departments such as marketing, customer care... Doing well marketing will bring great benefits. give the company a huge advantage over its competitors.
The role of marketing in business activities
The volume of money in circulation and goods sold to businesses is larger than is the case with consumers.
In order to produce and sell a pair of shoes, the rawhide sellers have to sell the hides to the tanners, then the tanners have to sell the leather to the shoemakers, the shoemakers sell the shoes to the wholesaler, The wholesaler then sells the shoes to the retailer, who will eventually sell to the consumer.
In addition, each participant in this distribution chain has to buy many other goods and services, so that the business purchases are more than the consumer purchases.
In short, it can be said that all businesses that want to sell goods and services to a business or organization must apply industrial marketing.
Types of industrial marketing
– Mass marketing: customers are small in size and large in number
Continuous marketing: characterized by an ongoing relationship between suppliers and customers
Project marketing: characterized by an intermittent relationship between suppliers and customers
Difference between industrial marketing and consumer marketing
Table: Comparison of industrial and consumer marketing
| Content
| Consumer Marketing
| Industrial Marketing
| |
| Client
| – Individuals, consumers – The number of customers is large, but the number of purchases is small – Customers are distributed over a wide geographical area
| – Organizations, companies – Small number of customers, but buy in much larger quantities. Customers are more geographically focused.
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| Purchase target
| – Buy for personal or household consumption
| Buy to produce other goods and services
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| Demand
| – Direct bridge – Demand is very elastic with price
| Secondary demand originates from demand in the consumer market – Demand is inelastic with prices in the short run
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| Factors influencing buying decision
| - Simple Fewer people participate in the buying decision process
| - Many complicating factors – Many people participate in the buying decision
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| How to purchase
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| Relationship between customer and supplier
| – Loose relationship – Customers often buy through intermediaries
| - Very close relationship – Usually buy and sell directly, customers often buy repeatedly, buy often
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| The role of marketing tools
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| – Important product, personal selling, important physical distribution. |
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