Classification of industrial products and services
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The document classifies and defines industrial products and services. It divides them into three categories: materials and parts which go directly into production; capital items like equipment and machinery used in production; and services and supplies which support business operations. It provides examples of items that fall into each category, such as raw materials, manufactured goods, component parts, and maintenance services. Finally, it gives an example of the types of industrial products and services an automobile company may purchase.
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Classification of industrial product
Industrial products and services are classified into three broad groups: (1) materials and parts that directly enter the production process, including raw materials, manufactured items, and component parts; (2) capital items used in production, such as light equipment, installations or heavy equipment, and plant and buildings; and (3) supplies and services that support operations, like operating supplies and services for legal needs, auditing, advertising, and marketing research.
Economics of industrial demand
The document discusses the economics of demand in industrial markets. It outlines three main types of demand: derived demand, where demand for industrial goods and services comes from ultimate consumer demand; joint demand, where demand for two goods is interdependent; and cross elasticity of demand, which is the responsiveness of sales of one product to price changes in another. It provides examples to illustrate each type of demand.
Nature and scope of industrial marketing
Industrial markets present different challenges than consumer markets. Industrial markets consist of organizations that purchase goods and services to create their own offerings. Industrial marketing involves matching a supplier's capabilities with a customer's desired outcomes to create value for both organizations and their downstream customers. Industrial customers include commercial enterprises like original equipment manufacturers, government organizations, and institutions. These customers often have complex purchase processes involving multiple decision makers. Suppliers must understand the unique characteristics and needs of industrial customers in order to succeed in business-to-business marketing and sales.
Consumer Involvement 1
Consumer involvement refers to the level of importance and information processing a consumer applies to a product. The degree of involvement significantly impacts consumer behavior. High involvement occurs for expensive, important, or complex purchases and requires extensive research. Some involvement is needed for moderately important items. Low involvement is for unimportant purchases requiring minimal research. Factors like personal interests, product characteristics, and the situation influence a consumer's level of involvement.
CONSUMER BEHAVIOUR INDUSTRIAL BUYING BEHAVIOUR
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India
Product and Brand Management
This document provides an overview of product and brand management. It defines what a product is, discusses different types of products including consumer and business products. It also covers key product management concepts like the core benefit of a product, different levels of a product from the expected to the potential product, and strategies for managing a product portfolio including product line extensions and stretching a product line.
Buying decision process in rural marketing
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6. Retail Location Planning, Retail Site Location
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Retail Site Location, Trade area, Huff Gravity Model, Regression Analysis, Analog Model
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Classification of industrial product
Industrial products and services are classified into three broad groups: (1) materials and parts that directly enter the production process, including raw materials, manufactured items, and component parts; (2) capital items used in production, such as light equipment, installations or heavy equipment, and plant and buildings; and (3) supplies and services that support operations, like operating supplies and services for legal needs, auditing, advertising, and marketing research.
Economics of industrial demand
The document discusses the economics of demand in industrial markets. It outlines three main types of demand: derived demand, where demand for industrial goods and services comes from ultimate consumer demand; joint demand, where demand for two goods is interdependent; and cross elasticity of demand, which is the responsiveness of sales of one product to price changes in another. It provides examples to illustrate each type of demand.
Nature and scope of industrial marketing
Industrial markets present different challenges than consumer markets. Industrial markets consist of organizations that purchase goods and services to create their own offerings. Industrial marketing involves matching a supplier's capabilities with a customer's desired outcomes to create value for both organizations and their downstream customers. Industrial customers include commercial enterprises like original equipment manufacturers, government organizations, and institutions. These customers often have complex purchase processes involving multiple decision makers. Suppliers must understand the unique characteristics and needs of industrial customers in order to succeed in business-to-business marketing and sales.
Consumer Involvement 1
Consumer involvement refers to the level of importance and information processing a consumer applies to a product. The degree of involvement significantly impacts consumer behavior. High involvement occurs for expensive, important, or complex purchases and requires extensive research. Some involvement is needed for moderately important items. Low involvement is for unimportant purchases requiring minimal research. Factors like personal interests, product characteristics, and the situation influence a consumer's level of involvement.
CONSUMER BEHAVIOUR INDUSTRIAL BUYING BEHAVIOUR
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India
Product and Brand Management
This document provides an overview of product and brand management. It defines what a product is, discusses different types of products including consumer and business products. It also covers key product management concepts like the core benefit of a product, different levels of a product from the expected to the potential product, and strategies for managing a product portfolio including product line extensions and stretching a product line.
Buying decision process in rural marketing
The document summarizes the five stages of a consumer's buying decision process: problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. It then provides more details on each stage, including factors that influence rural consumers' decisions and sources of information. The stages are influenced by personal, environmental, and marketing factors.
6. Retail Location Planning, Retail Site Location
Retail Location Planning - types of location
Convenience Shopping, Comparative Shopping, Specialty Shopping
Cannibalization
Retail Site Location, Trade area, Huff Gravity Model, Regression Analysis, Analog Model
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Retail location
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Industrial and consumer marketing differ in their market structures, products, and buyer behaviors. Industrial markets have fewer geographically concentrated buyers engaging in oligopolistic competition, technically complex customized products purchased for business use, and professionally trained personnel making purchases based on functional task motives. Consumer markets have mass markets of geographically dispersed buyers engaging in monopolistic competition, standardized products for personal use, and purchases influenced by social and psychological motives of individuals and families.
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Consumer as an individual
This document discusses factors that influence consumer behavior, including internal factors like motivation, personality, perception, learning, values and beliefs, and external factors like personal influence, reference groups, family, social class, and culture. It provides definitions for motivation, personality, perception, learning, values, beliefs, and attitude from various sources.
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2. Materials/parts include raw materials, manufactured materials, and component parts. Capital items include heavy equipment, light equipment, and plants/buildings. Supplies/services include operational supplies and support services.
3. Industrial markets differ from consumer markets in having fewer, larger organizational buyers, more customized complex products, shorter direct distribution channels, and an emphasis on personal selling over mass promotion.
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CLASSIFICATION OF INDUSTRIAL PRODUCTS AND INDUSTRIAL MARKETING ENVIRONMENT
This document provides an overview of industrial products classification, the industrial marketing environment, and differences between industrial and consumer markets. It classifies industrial products into three broad groups: materials and parts, capital items, and supplies and services. It also describes the key elements of the industrial marketing environment, including buyers, sellers, publics, and macroeconomic factors. Finally, it outlines several key differences between industrial and consumer markets, such as fewer but larger buyers, more customized products, and an emphasis on personal selling in industrial markets versus mass promotion in consumer markets.
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Industrial customers can be classified as OEMs, users, commercial enterprises, public sector units, government customers, institutional customers, and cooperative societies. Industrial products are classified as raw materials, manufactured materials and parts, component parts, subassemblies, capital items, equipment, supplies, and services. Marketing implications depend on the product - direct sales are used for materials and parts to large customers, while distributors are used for smaller customers. Capital items use direct sales and extensive technical interactions. Supplies use distributors, while services use word-of-mouth. Business buyers follow purchasing orientations of buying, procurement, or supply chain management.
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The document discusses factors that influence consumer behavior, including cultural, social, personal, and psychological factors. Cultural factors encompass elements like culture, subcultures, and social classes that shape consumer values and preferences. Social factors include reference groups, family influences, and social roles/status. Personal factors pertain to individual characteristics like age, lifestyle, and income that affect purchasing decisions. Psychological factors are motivations, perceptions, learning, and beliefs/attitudes that drive consumer behavior at a subconscious level. Understanding these various influences is important for analyzing consumer decision-making processes.
Retail theories
This document outlines three main theories of retail development: environmental, cyclical, and conflictual. The environmental theory states that retailers must adapt to changes in their operating environment like technology, the economy, and demographics in order to survive. The cyclical theory includes the wheel of retailing and accordion theory, which propose that retailers go through different phases or change formats over time. Finally, the conflict theory suggests that new retail formats emerge through a dialectic process as different types of retailers compete with each other and eventually blend to create innovative new formats.
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Retail location
The document discusses various types of retail store locations including freestanding/isolated stores, business districts, and shopping centers. It describes factors to consider when selecting a retail location such as market size and demographics, competition, transportation access, and property costs. The document also outlines different types of shopping centers like neighborhood centers that serve local areas and regional centers that attract customers from a wider region. Key decisions for retailers include assessing the trade area, traffic patterns, and estimating whether a location can generate sufficient sales.
Influence of reference groups on consumer behaviour
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Difference between indusrial marketing & consumer marketing
Industrial and consumer marketing differ in their market structures, products, and buyer behaviors. Industrial markets have fewer geographically concentrated buyers engaging in oligopolistic competition, technically complex customized products purchased for business use, and professionally trained personnel making purchases based on functional task motives. Consumer markets have mass markets of geographically dispersed buyers engaging in monopolistic competition, standardized products for personal use, and purchases influenced by social and psychological motives of individuals and families.
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Retail store administration
Store administration involves managing various components including premises, inventory, customer service, promotions, and staff. Key aspects include setting store hours, maintaining cleanliness, managing inventory levels and displays, handling cash receipts, providing excellent customer service, running promotions, and recruiting and training employees. Proper store administration is important for operational efficiency and customer satisfaction.
Motives in consumer behaviour
This document discusses the role of motives in guiding consumer behavior. It defines motives as inner urges that prompt a person to action. Motivation is the process that initiates, guides, and maintains goal-oriented behavior. Motives serve several roles including defining basic strivings, identifying goal objects, influencing choice criteria, and deciding other influences. There are different types of buying motives such as emotional, rational, and patronage motives. Motives can be aroused through physiological, emotional, cognitive, and environmental means. Motive combinations also occur through linking and bundling. The dynamics of motivation involve needs never being fully satisfied, new needs emerging, and people setting higher goals as old ones are achieved.
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Consumer as an individual
This document discusses factors that influence consumer behavior, including internal factors like motivation, personality, perception, learning, values and beliefs, and external factors like personal influence, reference groups, family, social class, and culture. It provides definitions for motivation, personality, perception, learning, values, beliefs, and attitude from various sources.
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1. Industrial products are goods and services used directly or indirectly in production or resale. They are classified as materials/parts, capital items, and supplies/services.
2. Materials/parts include raw materials, manufactured materials, and component parts. Capital items include heavy equipment, light equipment, and plants/buildings. Supplies/services include operational supplies and support services.
3. Industrial markets differ from consumer markets in having fewer, larger organizational buyers, more customized complex products, shorter direct distribution channels, and an emphasis on personal selling over mass promotion.
Demand and Supply in service marketing
This document discusses demand and supply management for services. It defines demand as the quantity of goods customers will purchase at different prices, depicted through a downward sloping demand curve. Supply is defined as the amount producers are willing to provide at a given price, as shown in an upward sloping supply curve. Equilibrium occurs when demand and supply are equal. The document provides strategies for managing demand, such as promotions and incentives, as well as managing supply through increasing capacity utilization, renting equipment, automation, and scheduling.
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Presentation on product levels, product mix, Consumer goods classification,Br...
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This document discusses five levels of consumer goods products: core benefit, basic product, expected product, augmented product, and potential product. It also covers consumer goods classification, product mix decisions, and brand strategy decisions. Specifically, it defines the five product levels as (1) core benefits, (2) basic products that turn core benefits into goods, (3) expected products with buyer-expected attributes, (4) augmented products that exceed customer expectations, and (5) potential products that include all possible augmentations. It then provides mobile phones as an example to illustrate the five levels.Product ppt(1)
This document defines and describes different types of products. It discusses that a product can satisfy wants or needs and consists of a bundle of attributes. There are 5 levels of a product: core benefit, basic product, expected product, augmented product, and potential product. Each level adds more customer value. The document also describes consumer products like convenience products, shopping products, and specialty products. It outlines industrial products categories like materials and parts, capital items, and supplies and services.
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Classification of industrial products and services
- 1. CLASSIFICATION OF INDUSTRIAL PRODUCTS AND SERVICES SUBMITTED BY – RISHAV SARKAR SUBMITTED TO –SUNIL DHADIWAL
- 2. WHAT ARE INDUSTRIAL PRODUCTS AND SERVICES • PRODUCTS OR SERVICES PURCHASED FOR USE IN THE PRODUCTION OF OTHER GOODS OR SERVICES, IN THE OPERATION OF A BUSINESS, OR FOR RESALE TO OTHER CONSUMERS. • THESE PRODUCTS AND SERVICES ARE FROM BUSINESS TO BUSINESS AND NOT FROM BUSINESS TO CONSUMERS. • INDUSTRIAL PRODUCTS HAVE A COMPARATIVELY SMALLER DISTRIBUTION CHANNEL THAN CONSUMER PRODUCTS
- 3. CLASSIFICATION • INDUSTRIAL PRODUCTS AND SERVICES ARE BROADLY CLASSIFIED INTO - MATERIALS AND PARTS (GOODS ENTER THE PRODUCT DIRECTLY) - CAPITAL ITEMS (GOODS ARE USED IN THE PRODUCTION PROCESSES) - SERVICES AND SUPPLIES (GOODS AND SERVICES SUPPORT THE OPERATIONS)
- 4. MATERIAL AND PARTS RAW MATERIALS – BASIC PRODUCTS LIKE ORES, CRUDE OIL, FRUITS AND VEGETABLES ETC MANUFACTURED MATERIALS – FINISHED PRODUCTS LIKE STEEL, CEMENT, FUELS AND ACIDS ETC. COMPONENT PARTS – SEMI FINISHED PARTS LIKE BEARINGS, SMALL MOTORS AND SCREWS ETC SUBASSEMBLIES – SEMI FINISHED PRODUCTS LIKE GEAR BOX IN MOTORCYCLES SUPPLIES AND SERVICES SUPPLIES – OPERATING AND MAINTENANCE SUPPLIES LIKE LUBRICANTS, STATIONARIES, PACKAGING MATERIALS, PAINTS AND ELECTRICAL ITEMS SERVICES – SERVICES PROVIDED LIKE BUILDING MAINTENANCE SERVICE, AUDITING SERVICE, MARKETING RESEARCH SERVICE ETC
- 5. CAPITAL ITEMS • LIGHT EQUIPMENT OR ACCESSORIES – LIGHT EQUIPMENT AND MACHINERIES LIKE COMPUTER TERMINALS, HAND TOOLS, TYPEWRITERS ETC. • INSTALLATIONS OR HEAVY EQUIPMENTS – MAJOR AND LONG TERM INVESTMENT EQUIPMENTS LIKE GENERATORS, SPMs, GPMs , FURNACES ETC. • PLANT AND BUILDINGS – PROPERTY OF A COMPANY LIKE WAREHOUSES, OFFICES, FACTORIES ETC.
- 6. EXAMPLE • FOR AN AUTOMOBILE COMPANY THE INDUSTRIAL PRODUCTS AND SERVICES WILL BE MATERIALS AND PARTS – STEEL, ALUMINIUM, IMPORTED AUTOMIBLE PARTS, BEARINGS, SCREWS ETC. CAPITAL ITEMS – LAND, MACHINERY, WAREHOUSE ETC. SERVICES AND SUPPLIES – LUBRICANTS, ELECTRICAL ITEMS, SUBASSEMBLIES REPLACEMENT SERVICE, BUILDING MAINTENANCE SERVICE ETC.