Industrial Marketing: Business-to-Business Introduction

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Define marketing and its purpose according to the text.

Marketing can be defined as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Explain the difference between consumer markets and business markets as described in the text.

Consumer markets refer to markets whereby businesses or producers sell their products or services directly to the final consumers (B2C), while business markets refer to organizations, businesses, or entities that acquire products and services for use in the production of other services and products (B2B).

Provide examples of business market customers as outlined in the text.

Business market customers can be broadly classified into three categories: commercial enterprises (businesses), institutions (e.g., universities), and government.

What types of organizations are included in B2B marketing, according to the text?

<p>B2B marketing includes organizations such as hospitals, charities, and government departments, as well as businesses and entities that acquire products and services for production purposes.</p> Signup and view all the answers

What is the primary purpose of businesses buying goods in the context of B2B marketing?

<p>Businesses buy goods to use in producing other goods and also buy goods which they use up, but which do not form part of their own outputs.</p> Signup and view all the answers