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e. Industrial marketing or business-to-business marketing is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw material. The term, industrial marketing has largely been replaced by the term B2B marketing (i.e. business to business marketing).
Industrial market segmentation is a scheme for categorizing industrial and business customers to guide strategic and tactical decision-making. Government agencies and industry associations use standardized segmentation schemes for statistical surveys. Most businesses create their own segmentation scheme to meet their particular needs.
Marketing mix. The marketing mix is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible. These variables are often grouped into four key components, often referred to as the "Four Ps of Marketing." These four P's are :
Next-best-action marketing. Next-best-action marketing (also known as best next action or next best activity or recommended action ), as a special case of next-best-action decision-making, is a customer-centric marketing paradigm that considers the different actions that can be taken for a specific customer and decides on the ‘best’ one. [1]
The Industrial Marketing and Purchasing Group or International Marketing and Purchasing Group (abbreviated IMP Group) is a European research initiative in the field of Industrial marketing established in 1976 by researchers from different countries and universities in Europe. [1] [2] It has evolved into an "informal international group of ...
While marketing, in the sense of firm's micro marketing activities, can be the same across contexts, cultures, and nations, a marketing system is a unique market structure pertaining to a specific context (e.g. agricultural marketing systems in Africa). Marketing system is a differentiated subset of social system.
Macromarketing. Macromarketing is an interdisciplinary field that studies marketing as a provisioning technology of society. It focuses on marketing-society interactions including such topics as marketing systems, aggregate consumer behavior, market regulation, social responsibility, justice and ethics in markets, and sustainable marketing.
The contemporary definition of 'marketing' as a process of moving goods from producer to consumer with an emphasis on sales and advertising first appeared in dictionaries in 1897. [8] The term, marketing, is a derivation of the Latin word, mercatus meaning market-place or merchant. [9]