BUSINESS MARKETING
Business marketing is the practice of individuals, or organizations, including commercial businesses, governments and institutions, facilitating the sale of their products or services to other companies or organizations that in turn resell them, use them as components in products or services they offer, or use them to support their operations. Business marketing is also known by another term as industrial marketing. Business marketing is also called business-to-business marketing, or B2B marketing, for short. This practice of trading of goods is quite old, in fact as old as the commerce itself. In business marketing, the essential aspect is relationship. One needs to establish good relationship and interact with the customer on a regular basis. It also involves understanding their requirement and offering solution to their problems. Since business marketing is technical in nature, it requires understanding of technical aspects such as engineering, process, functions of machines etc. While it is not mandatory to know about these, but their knowledge would help in marketing the products in a better way. It is extremely important to consider the service aspect also in business marketing. When a sale is made, many a times the customers are forgotten, after the sale is made. But in the case of business marketing, it is extremely important to maintain contacts as a reference would be very useful in the longer run, not only for getting business from the same company but also from other companies as well. The buyers are scattered over geographical areas and many a times, frequent travelling and visits are also required.
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