Industrial Marketing

Business markets are different from consumer markets. The orders and the customers are bigger, and the buying process/buying unit is more complex. Usually there is a need for a great deal of internal coordination, and sometimes a high level of customization and complex order fulfillment. To effectively market to businesses, companies must have continuous and intensive interaction with their customers. To manage business customers profitably over time, you need not only to understand how these factors interact but also be able to use this information effectively to make integrative marketing decisions that optimize the process of creating, extracting, and sustaining value.

Remember, a descent to price competition is the business equivalent of mutually assued destruction. You want to avoid it. Business is a shared game.

football diagram

To succeed you should understand the business customer and manage the value proposition.

Stuff you want to do:

  • Understand user needs - gathering and interpreting needs, wants, and desires
  • Identify early users - organizations and individuals and departments within those organizations
  • Translate user needs into product design, marketing communications
  • Identify new points of differentiation for existing products and product lines
  • Segment industrial markets
  • Identify drivers of demand downstream of the immediate customer, projections of demand
  • Identify customers' buying decision processes and design methods to address customer concerns
  • Establish pricing policy
  • Design distribution channels

Developing strategy

 

Good Stuff

"In order to be creative, you have to know how to prepare to be creative." Twyla Tharp

"The growth of knowledge proceeds from our problems and from our attempts to solve them.” - Karl Popper

Temperence, Silence, Order, Resolution, Frugality, Industry, Sincerity, Justice, Moderation, Cleanliness, Tranquility, Chastity, Humility

"Time spent laughing is time spent with the gods." — Japanese Proverb

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