CLASSIFICATION OF INDUSTRIAL PRODUCTS & INDUSTRIAL Organizational Customer Based on Type of products purchased; Organizations and individuals purchase industrial products so that they can further ultimate in the business operation. The main purpose of. is an industrial product. There are three categories of industrial products, materials and parts, capital items, and supplies and services. Materials and parts are.
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Industrial Products MBA Marketing Notes
Examples; natural and farm products from http: They end up as part of the finished goods. They complete in different manufacturing unit but they can be used whenever they are part types of industrial products the finished good. You can also learn more about the types of industrial products types of industrial products checking out the post at http: Such buyers are also found in certain regions.
For example, most of the buyers of machines needed for making cotton cloth are found in and around Coimbatore in Tamilnadu.
Inelastic demand The demand for industrial goods is relatively inelastic, i. Buying is always a group process Purchase of consumer or agricultural goods can be undertaken by an individual.
But in the case of industrial goods, types of industrial products group or a team is generally involved in the purchase.
Industrial Product: 3 Groups of Industrial Goods and Services
The team may consist of engineers, financial experts and others. Higher purchase value of Industrial goods As industrial goods are very highly priced, each purchase involves a very high amount.
This is in contrast to consumer and agricultural goods where the amount types of industrial products in each purchase is much less. After-sale service of Industrial goods This is something which is always important in the marketing of industrial goods.
Industrial Goods | Meaning | Characteristics | Types of Buyers
The seller must ensure regular repair and maintenance service to the buyer. Need large commitment to buy Top management involve to purchase Technical Nature Training needed to use it.
Accessory Equipment The accessory equipments are types of industrial products industrial products, which are bought by the organization or individual to support the real business operations, they may be revenue nature, or capital nature.
They normally identify, evaluate and select suppliers who provide greatest value. When the purchase is being done for the first time, ideally all organisations have to go through the procurement process which could take any form.
The procurement process flow is shown in flow sheet at Fig. One of them is listed below: The purchasing company does not have types of industrial products strictly follow these steps.
It acts as a guideline and will help the Industrial marketer to formulate his strategy and plan of action. The purchasing process begins when someone in the company recognise a problem or need that can be met by acquiring a types of industrial products or service.
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Once need is recognised, the buyer proceeds to determine the needed items general characteristics and quantity needed. After general needs are identified the buying organisation must develop the items technical specification.
Once the products have been specified the buyer tries types of industrial products identify the most appropriate suppliers.
Types of industrial products suppliers task to get listed in major directories, develop a strong advertising and promotion program and build a good reputation in the market place. The buyer next will invite qualified suppliers to submit proposals.