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Industrial Marketing
Industrial marketing (or business-to-business marketing) is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw material. The term, ''industrial marketing'' has largely been replaced by the term ''B2B'' marketing (i.e. business to business marketing). Origins and usage Historically, the marketing discipline made a distinction between industrial marketing and consumer goods marketing. During the 1980s, businesses shifted from industrial marketing to business marketing. Within a decade, the term business marketing had largely displaced industrial marketing. By the late 1990s, the term, ''B2B marketing,'' came into widespread use. Industrial, or business-to-business (B2B) marketing Main features of the B2B selling process are: * Marketing is one-to-one in nature. It is relatively easy for the seller to identify a prospective customer and build a face-to-face relationship. * Hi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of advertising campaigns; attendance at trade shows and public events; design of products and packaging attractive to buyers; defining the terms of sale, such as price, discounts, warranty, and return policy; product placement in media or with people believed to influence the buying habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts to create awareness of, loyalty to, and positive feelings about a brand. Marketing is typically done by the seller, typically a retailer or manufacturer. Sometimes tasks are contracted to a dedicated marketing firm or advertising agency. More rarely, a trade association or government agency (such as the Agricultural Marketing Serv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Tunnel
Sales process engineering is intended to design better ways of selling and make salespeople's efforts more productive. It has been described as "the systematic application of scientific and mathematical principles to achieve the practical goals of a particular sales process".. Paul Selden pointed out that in this context, sales referred to the output of a process involving a variety of functions across an organization, and not that of a "sales department" alone. Primary areas of application span functions including sales, marketing, and customer service. History As early as 1900–1915, advocates of scientific management, such as Frederick Winslow Taylor and Harlow Stafford Person, recognized that their ideas could be applied not only to manual labour and skilled trades but also to management, professions, and sales. Person promoted an early form of sales process engineering. At the time, postwar senses of the terms ''sales process engineering'' and ''sales engineering'' did no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business-to-business
Business-to-business (B2B or, in some countries, BtoB) is a situation where one business makes a commercial transaction with another. This typically occurs when: * A business is sourcing materials for their production process for output (e.g., a food manufacturer purchasing salt), i.e. providing raw material to the other company that will produce output. * A business needs the services of another for operational reasons (e.g., a food manufacturer employing an accountancy firm to audit their finances). * A business re-sells goods and services produced by others (e.g., a retailer buying the end product from the food manufacturer). B2B is often contrasted with business-to-consumer (B2C). In B2B commerce, it is often the case that the parties to the relationship have comparable negotiating power, and even when they do not, each party typically involves professional staff and legal counsel in the negotiation of terms, whereas B2C is shaped to a far greater degree by economic implic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of advertising campaigns; attendance at trade shows and public events; design of products and packaging attractive to buyers; defining the terms of sale, such as price, discounts, warranty, and return policy; product placement in media or with people believed to influence the buying habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts to create awareness of, loyalty to, and positive feelings about a brand. Marketing is typically done by the seller, typically a retailer or manufacturer. Sometimes tasks are contracted to a dedicated marketing firm or advertising agency. More rarely, a trade association or government agency (such as the Agricultural Marketing Serv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hit Rate
Hit rate is a metric or measure of business performance traditionally associated with sales. It is defined as the number of sales of a product divided by the number of customers who go online, planned call, or visit a company to find out about the product. Sales can be measured either as the sum of dollars pursued or the number of deals pursued. Accurate calculation requires clear definition of when a sales opportunity is firm enough to be included in the metric, as well as firm disposition of the opportunity (i.e. the deal has reached a point where it is considered won, lost or abandoned). The hit rate may be measured for the whole sales force or by sales region, sales person or product group. It may be used to benchmark the different sales periods and to benchmark the effectiveness of the own sales force with other companies of the same sector. Due to the high costs involved with making proposals, the hit rate is a very useful tool especially for companies in industrial market ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business-to-government
Business-to-government (B2G),Market Business NewsWhat is B2G or business-to-government? Definition and examples accessed 31 August 2020 also known as business-to-administration (B2A), refers to trade between the business sector as a supplier and a government body as a customer. Public-sector organizations generally post tenders in the form of requests-for-proposals, requests-for-information, requests-for-quotations, and sources-sought, to which private suppliers respond. Business-to-government networks provide a platform for businesses to bid on government opportunities that are presented as solicitations, in the form of requests-for-proposals, through a reverse auction. B2G includes the segment of business-to-business marketing known as ''public sector marketing'', which encompasses marketing products and services to various government levels— local and national—through integrated marketing communications techniques such as strategic public relations, branding, marketi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Marketing
Business marketing is a marketing practice of individuals or organizations (including commercial businesses, governments and institutions). It allows them to sell products or services to other companies or organizations that resell them, use them in their products or services or use them to support their works. It is a way to promote business and improve profit too. Business marketing is also known as industrial marketing or business-to-business (B2B) marketing. Business-to-government marketing, while still classified within the B2B discipline due to the sharing of dynamics, does differ slightly. Origins The practice of a purveyor of goods trading with another may be as old as commerce itself. In relation to marketing today, its history is more recent. Michael Morris, Leyland Pitt, and Earl Dwight Honeycutt say that for several years business marketing took "a back seat" to consumer marketing. This entailed providers of goods or services selling directly to households throug ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dot-com Bubble
The dot-com bubble (dot-com boom, tech bubble, or the Internet bubble) was a stock market bubble in the late 1990s, a period of massive growth in the use and adoption of the Internet. Between 1995 and its peak in March 2000, the Nasdaq Composite stock market index rose 400%, only to fall 78% from its peak by October 2002, giving up all its gains during the bubble. During the dot-com crash, many online shopping companies, such as Pets.com, Webvan, and Boo.com, as well as several communication companies, such as Worldcom, NorthPoint Communications, and Global Crossing, failed and shut down. Some companies that survived, such as Amazon, lost large portions of their market capitalization, with Cisco Systems alone losing 80% of its stock value. Background Historically, the dot-com boom can be seen as similar to a number of other technology-inspired booms of the past including railroads in the 1840s, automobiles in the early 20th century, radio in the 1920s, television in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Lead
In marketing, lead generation () is the initiation of consumer interest or enquiry into products or services of a business. A lead is the contact information and, in some cases, demographic information of a customer who is interested in a specific product or service. Leads may come from various sources or activities, for example, digitally via the Internet, through personal referrals, through telephone calls either by the company or telemarketers, through advertisements, and events. * In 2014, a study found that direct traffic, search engines, and web referrals were the three most popular online channels for lead generation, accounting for 93% of leads. * In 2018, Chief Marketer found that B2B marketers favored email, live events, and content marketing as their top three. * After the COVID-19 pandemic in 2020, Gartner identified increases in social and search engine optimization for B2B marketers, while B2C marketers favored digital advertising. Lead generation is often pair ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hit Rate
Hit rate is a metric or measure of business performance traditionally associated with sales. It is defined as the number of sales of a product divided by the number of customers who go online, planned call, or visit a company to find out about the product. Sales can be measured either as the sum of dollars pursued or the number of deals pursued. Accurate calculation requires clear definition of when a sales opportunity is firm enough to be included in the metric, as well as firm disposition of the opportunity (i.e. the deal has reached a point where it is considered won, lost or abandoned). The hit rate may be measured for the whole sales force or by sales region, sales person or product group. It may be used to benchmark the different sales periods and to benchmark the effectiveness of the own sales force with other companies of the same sector. Due to the high costs involved with making proposals, the hit rate is a very useful tool especially for companies in industrial market ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Selling
Personal selling occurs when a sales representative meets with a potential client for the purpose of transacting a sale. Many sales representatives rely on a sequential sales process that typically includes nine steps. Some sales representatives develop scripts for all or part of the sales process. The sales process can be used in face-to-face encounters and in telemarketing. Definition Personal selling can be defined as "the process of person-to-person communication between a salesperson and a prospective customer, in which the former learns about the customer's needs and seeks to satisfy those needs by offering the customer the opportunity to buy something of value, such as a good or service." The term may also be used to describe a situation where a company uses a sales force as one of the main ways it communicates with customers. Brief history The earliest forms of exchange involved bartering systems. However, the advent of coinage enabled exchange to occur more efficien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Channel (marketing)
Distribution (or place) is one of the four elements of the marketing mix. Distribution is the process of making a product or service available for the consumer or business user who needs it. This can be done directly by the producer or service provider or using indirect channels with distributors or intermediaries. The other three elements of the marketing mix are product, pricing, and promotion. Decisions about distribution need to be taken in line with a company's overall strategic vision and mission. Developing a coherent distribution plan is a central component of strategic planning. At the strategic level, there are three broad approaches to distribution, namely mass, selective and exclusive distribution. The number and type of intermediaries selected largely depend on the strategic approach. The overall distribution channel should add value to the consumer. Definition Distribution is fundamentally concerned with ensuring that products reach target customers in the most d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
