Anything that can be offered to a market for attention, acquisition, use, or consumption that

might satisfy a want or need.

CONCEPTUAL PRODUCT

P

Potential product

Final consumption by consumer.

INDUSTRIAL PRODUCTS

Not used by consumers directly Used for the production of consumer products For further reselling of a product

INDUSTRIAL PRODUCTS

DURABILITY

CAPITAL

INSTALATION ACCESSORY

EXPENSE

MATERIAL AND PARTS

RAW MATERIAL

FARM PRODUCTSNATURAL

PRODUCTS

MANUFACTURED MATERIAL

COMPONENT PARTS

COMPONENT MATERIAL

SUPPLIES and services

maintainance and repair

operating supplies

Installations :- used directly in the production of goods. Examples: conveyor systems, robotics

equipment, and machine tools, are designed and built for specialized situations.

Accessory equipment:- less expensive and have shorter lives. Examples include hand tools, computers,

desk calculators, and forklifts

Raw material-

Examples are iron ore, crude oil, diamonds, copper, timber, wheat, and leather. Some (e.g., wheat) may be converted directly into another consumer product (cereal).

Manufactured product

component materials & parts-motors, tyres, spark plugs etc.

Maintenance & repair- paints, nails

Operating supplies- lubricant, coal ,paper,pencil(usually sold by giving adds in paper andpersonal selling in case of large contracts)

Business services- legal managementconsulting, advertising(usually supplied undercontract)

Industrial vs consumer products

CONSUMER PRODUCT

Heavy promotion is required for Convenience and Unsought products.

Careful targeted promotion by producer as well as by resellers for shopping and specialty products.

INDUSTRIAL PRODUCT

Small players need advertisements and personal selling in order to mark their presence.

Big player give lessimportance toadvertisement insteadstress is on personalnegotiation and deals.

CONSUMER PRODUCT

Frequent purchase, customerinvolvement ,little planningand price comparison inconvenience product.

More planning, customerinvolvement and comparisonof brands in shoppingproducts.

Strong brand preference ,lowprice sensitivity in specialtyproduct.

Little product awareness oreven negative interest inunsought product.

INDUSTRIAL PRODUCT

Mostly demand dependentpurchase and planning in caseof material and parts andsupplies and services. quitelow in case of capital items.

More planning and brandpreference in case of somecapital items and services.

Main preference is given totimely delivery, quantity ,supply and after sale services.

CONSUMER PRODUCT

Convenience –widespread distribution and convenient location

Shopping-selective distribution in fewer outlets

Specialty-widespread distribution. Unsought-varies

INDUSTRIAL PRODUCT

Mostly selective distribution as Personal selling is largely involved.

Brand building ,which was not given much importance earlier has become very important for industrial products.

Like Schneidar electric and Areva.

a shift is there from print media to social media for branding.

LOCATING PROSPECTIVE CUSTOMER.

For example ELECRAMA,anexibition held once every two years.many govt owned companies,privatecompanies and multinationals display their products and it opens an interesting opportunity for companies to locate prospective customers.

CONVINCING PROSPECTIVE CUSTOMERS ON SPECIFICATIONS AND QUALITY

It includes inviting customers to visit plants, display of processing and service capacity,technicaldiscussion(backed by displaying test certificates etc)

OBTAINING TRIAL/INITIAL ORDERS

At this stage industrial producers have to satisfy quality, packaging,transportand storage requirement of customers.

Pricing has to be globally competitive.

On time delivery, inventory management and flexible credit for customers is must.

CONVERSION INTO REGULAR CUSTOMER

Quality, cost ,delivery and service are keys that industrial producer has to keep in mind in order to convert trial customers into regular one.

Along with this customers are also looking for environment friendly operations.

Pankaj Ravi Abhay Manish prateek