Industrial (business-to-business) marketing requires close attention to the exact needs of customers. Basic differences across various markets are less than for consumer goods, but the motives behind purchases differ enough to require a special approach. Global competition has risen to the point that industrial goods marketers must pay close attention to the level of economic and technological development of each market to determine the buyer's assessment of quality. Companies that adapt their products to these needs are the ones that should be the most effective in the marketplace.
The demand for products and services in business-to-business markets is by nature more volatile than in most consumer markets. The demand also varies by level of economic development and the quality of educational systems across countries. Ultimately, product or service quality is defined by customers, but global quality standards such as ISO 9000 are being developed that provide information about companies' attention to matters of quality. After-sale services are a hugely important aspect of industrial sales. The demand for other kinds of business services (e.g., banking, legal services, advertising) is burgeoning around the world. Trade shows are an especially important promotional medium in business-to-business marketing.
