S .N.AreasIndustrial MarketConsumer Market1Market CharacteristicsGeographically concentratedRelatively fewer buyer buyersGeographically disbursedMass market2Product CharacteristicsTechnical complexityCustomisedStandardized3Service CharacteristicsService, timely delivered & availability very importantService, timely delivered & availability somewhat important4Buyer BehaviourInvolvement of various functional areas in both buyer & supplier firmsPurchase decisions are mainly made on rational/performance basisTechnical expertiseStable interpersonal relationship between buyers & sellersInvolvement of family membersPurchase decisions are mostly made on physiological/social/ physiological needsLess technical expertiseNon-personal relationship5Channel CharacteristicsMore directFewer intermediaries/middlemenIndirectMultiple layers of intermediaries6Promotional CharacteristicsEmphasis on personal sellingEmphasis on Advertising7Price CharacteristicsCompetitive bidding & negotiated pricesList prices for standard products List prices or maximum retail price (MRP)