What you should learn from chapter 14: The importance of derived demand in industrial markets, how demand is affected by technology levels, characteristics of an industrial product, the importance of ISO 9000 certification, the growth of business services and nuances of their marketing, the importance of trade shows in promoting industrial goods, the importance of relationship marketing for industrial products and services. | Products and Services for Businesses Chapter 14 Learning Objectives LO1 The importance of derived demand in industrial markets LO2 How demand is affected by technology levels LO3 Characteristics of an industrial product LO4 The importance of ISO 9000 certification LO5 The growth of business services and nuances of their marketing LO6 The importance of trade shows in promoting industrial goods LO7 The importance of relationship marketing for industrial products and services 2 Industrial products (business-to-business) constitute a large part of global marketing The issues of standardization versus adaptation have less relevance to marketing industrial goods than consumer goods because there are more similarities in marketing products and services to businesses across country markets than there are differences. The motives and behaviors among businesses as customers are different from B2C consumers Along with industrial goods, business services are a highly competitive growth market seeking quality and value B2B Products in International Markets 3 14-4 4 Three factors seem to affect the demand in international industrial markets differently than in consumer markets. demand in industrial markets is by nature more volatile stages of industrial and economic development affect demand for industrial products the level of technology of products and services makes their sale more appropriate for some countries than others Demand in Global B2B Markets Firms producing products and services for industrial markets have an additional crucial reason for venturing abroad: lessening the natural volatility of industrial markets Industrial products inherently experience cyclical swings in demand Two factors exacerbate both the ups and downs in industrial demand: Professional buyers tend to act in concert and Derived demand accelerates changes in markets. The Volatility of Industrial Demand 6 14-7 Stages of Economic Development 8 Technology and Market Demand An important approach to | Products and Services for Businesses Chapter 14 Learning Objectives LO1 The importance of derived demand in industrial markets LO2 How demand is affected by technology levels LO3 Characteristics of an industrial product LO4 The importance of ISO 9000 certification LO5 The growth of business services and nuances of their marketing LO6 The importance of trade shows in promoting industrial goods LO7 The importance of relationship marketing for industrial products and services 2 Industrial products (business-to-business) constitute a large part of global marketing The issues of standardization versus adaptation have less relevance to marketing industrial goods than consumer goods because there are more similarities in marketing products and services to businesses across country markets than there are differences. The motives and behaviors among businesses as customers are different from B2C consumers Along with industrial goods, business services are a highly competitive growth market .
