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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 The term industrial marketing has largely been replaced by the term business-to-business marketing (B2B).
Products require different marketing, financing, manufacturing, purchasing, and human resource strategies in each life cycle stage. Once the product is designed and put into the market, the offering should be managed efficiently for the buyers to get value from it.
A marketing mix is a foundational tool used to guide decision making in marketing. The marketing mix represents the basic tools that marketers can use to bring their products or services to the market. They are the foundation of managerial marketing and the marketing plan typically devotes a section to the marketing mix.
The standard educational requirement to become a product manager is a marketing or business degree. This can include a Bachelor of Business Administration (BBA), Master of Business Administration (MBA), Master of Arts (M.A.) or Master of Science (M.S.) in Marketing, and Master of Arts (M.A.) or Master of Science (M.S.) in Industrial ...
More broadly, marketing managers work to design and improve the effectiveness of core marketing processes, such as new product development, brand management, marketing communications, and pricing. Marketers may employ the tools of business process re-engineering to ensure these processes are properly designed, and use a variety of process ...
The marketing plan also helps layout the necessary budget and resources needed to achieve the goals stated in the marketing plan. It is able to show what the company is intended to accomplish within the budget and also makes it possible for company executives to assess potential return on the investment of marketing dollars.
Industrial Marketing Management is a peer-reviewed academic journal covering the field of marketing, business-to-business, and industrial marketing. It is published by Elsevier and the editors-in-chief are Adam Lindgreen (Copenhagen Business School) and Anthony Di Benedetto (Temple University). The journal was established in 1971 with R. Derek ...
A Master of Science in Management (abbreviated as MS Management or MSM) is a professional degree with a focus on management. [1]In terms of content, it is similar to the Master of Business Administration (MBA) degree as it contains identical management courses but is open to prospective postgraduate candidates at any level in their career unlike MBA programs that have longer course credit ...