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 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. Aftersale
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.
