Modern business-to-business marketing (B2B Marketing) originates from industrial marketing, defined decades ago. Industrial marketing aims to market an industrial good or service to another company, not a consumer. Philip Kotler established the basis for this definition by introducing the “4Ps of marketing”: product, price, promotion, and place. The product and promotion are two aspects of how to define a market itself. That makes the marketing definition inseparable linked to the market itself.
Industrial marketing happens on an industrial market marked by the purchasing process between two companies. Modern definitions of an industrial market use the terminology business-to-business or B2B market. The reason for putting “business” in the center of things is important. Modern marketing strategies affect the whole business, not only the classic 4Ps. In other words, the strategic foundation of a business is the marketing strategy, focusing on the customer above all others.
Center of attention of B2B Marketing is industrial goods, namely industrial products, industrial services, and digital industrial products. These goods are created throughout the whole added-value chain. From raw material till the final product. Only the last step is part of the B2C marketing: market the final product to the end consumer.
Examples of industrial marketing are activities of raw sugar producers to increase their sales volume on the global sugar industry market. Or the engineering and production of a vehicle chassis by being served by the steel and aluminum manufacturing industry.
Continue to read further details on the differences between B2B marketing and B2C marketing.