Business Marketing: A Strategic Decision Making

Definition of Business Marketing: -

Business marketing or industrial marketing refers to the procedure of marketing of individuals or business organizations for selling products and services so that they can resell them further or use them as supportive resources.

Business marketing is also referred as business to business (B2B) marketing. Even though, the dynamics of organizational marketing and marketing to governments are pretty similar the later is disparate in nature.

Industrial marketing, in general, require comparatively shorter but direct approach and distribution channels, in contrast to consumer marketing, which targets larger group of audiences through mass media or retailers. Business marketing, mostly aims at generating profit for a business organization compared to an individual for customized usage (B2C). Thus, these are mostly personalized and direct in nature.

Textbooks on Business Marketing: -

Here are some valuable textbooks on business marketing:

• Business marketing management, Hutt, Michael D., and Speh, Thomas W., 1998
• Sales, marketing, business and finance, Stinson Paul, 2008.

Examples of Business Marketing Strategies: -

B2B marketing requires close alignment with the corporate brands, product as well as service brands and divisional brands. Business marketing refers to large scale sales, and thus, it requires strategic planning and market analysis.

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