3.5 - Consumer & Industrial Marketing
The classification of consumer products
Consumer products consist of goods and services made for sale to individuals and households for personal use.
Types of consumer products
- Convenience products - Items bought regularly and often on impulse, aimed at a broad audience. Examples include sweets and soft drinks.
- Shopping products - Goods that involve careful consideration and comparison before buying, as they are not purchased often. Examples include washing machines.
- Speciality products - High-value items acquired rarely, where customers show strong attachment to particular brands. Examples include designer jewellery and premium sound systems.
The classification of industrial products
Industrial products include goods and services created for use in business operations rather than for personal consumption.
Types of industrial products
- Materials and components - Essential items used in manufacturing processes. Examples include steel and electronic parts for assembling machinery.
- Capital items - Long-term assets like tools, equipment, and structures that aid production. Examples include assembly lines, computer servers, and warehouses.
- Services and supplies - Supportive resources such as professional advice and essential utilities. Examples include energy provision and IT maintenance contracts.
Key differences between consumer (B2C) and industrial (B2B) marketing
Consumer marketing, also known as business-to-consumer (B2C) marketing, targets individuals and families, while industrial marketing, or business-to-business (B2B) marketing, focuses on selling to other organisations.
Main distinctions in marketing practices
| Aspect | Consumer marketing (B2C) | Industrial marketing (B2B) |
|---|---|---|
| Product complexity | Products are generally straightforward and easy to use. | Products are often technically advanced, needing expert sales teams and after-sales support. |
| Buyer sophistication | Buyers have limited bargaining power and market knowledge. | Buyers are knowledgeable professionals with significant influence, requiring skilled sales interactions. |
| Purchase decision process | Decisions can be quick or impulsive, with less analysis. | Decisions involve detailed evaluation of options, avoiding spontaneous choices. |
| Marketing approaches | Relies on widespread advertising through TV, social media, and other mass channels. | Emphasises personal relationships, industry events like exhibitions, and direct buyer engagement over broad advertising. |
| Market strategy | Uses mass marketing to reach many customers, with standardised products. | Targets a smaller number of buyers, often customising products to fit specific business requirements. |
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