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    Economics of Industrial Demand

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    ALEXANDREA GUILLERMO
    1. There are three types of demands in industrial marketing: derived demand, joint demand, and cross elasticity of demand. Derived demand arises from demand for another related good or service. Joint demand refers to commodities needed together to satisfy a want. Cross elasticity of demand evaluates how demand changes when prices of substitutes or complements change. 2. Industrial marketing involves selling goods and services between businesses. It targets a diverse set of industrial customers including distributors, government agencies, commercial enterprises, and original equipment manufacturers. 3. Understanding the diversity of industrial markets and products purchased is important for determining an effective marketing strategy.

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    Economics of Industrial Demand

    Uploaded by

    ALEXANDREA GUILLERMO
    425 views9 pages
    1. There are three types of demands in industrial marketing: derived demand, joint demand, and cross elasticity of demand. Derived demand arises from demand for another related good or service. Joint demand refers to commodities needed together to satisfy a want. Cross elasticity of demand evaluates how demand changes when prices of substitutes or complements change. 2. Industrial marketing involves selling goods and services between businesses. It targets a diverse set of industrial customers including distributors, government agencies, commercial enterprises, and original equipment manufacturers. 3. Understanding the diversity of industrial markets and products purchased is important for determining an effective marketing strategy.

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    Economics of Industrial demand

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    1. There are three types of demands in industrial marketing: derived demand, joint demand, and cross elasticity of demand. Derived demand arises from demand for another related good or service. Joint demand refers to commodities needed together to satisfy a want. Cross elasticity of demand evaluates how demand changes when prices of substitutes or complements change. 2. Industrial marketing involves selling goods and services between businesses. It targets a diverse set of industrial customers including distributors, government agencies, commercial enterprises, and original equipment manufacturers. 3. Understanding the diversity of industrial markets and products purchased is important for determining an effective marketing strategy.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    425 views9 pages

    Economics of Industrial Demand

    Uploaded by

    ALEXANDREA GUILLERMO
    1. There are three types of demands in industrial marketing: derived demand, joint demand, and cross elasticity of demand. Derived demand arises from demand for another related good or service. Joint demand refers to commodities needed together to satisfy a want. Cross elasticity of demand evaluates how demand changes when prices of substitutes or complements change. 2. Industrial marketing involves selling goods and services between businesses. It targets a diverse set of industrial customers including distributors, government agencies, commercial enterprises, and original equipment manufacturers. 3. Understanding the diversity of industrial markets and products purchased is important for determining an effective marketing strategy.

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    ECONOMICS

    ECONOMICSOF
    OF
    INDUSTRIAL
    INDUSTRIALDEMAND
    DEMAND
    Demands in Industrial
    1 Marketing

    earn in g
    L es
    2
    Understanding Industrial

    tiv
    c t i
    Markets

    Obje
    Diversity of Industrial Markets
    3 & Products purchased
    Three types of demands in Derived Demand.
    industrial Derived Demand is demand for a

    marketing. good or service that arises as a


    result of demand for another
    related good or service.

    Cross Elasticity of
    Joint Demand. Demand.
    Joint or complementary
    Cross elasticity of demand evaluates the
    demand: This refers to the
    relationship between two products when
    demand for commodities that
    the price in one of them changes. It
    are needed together to satisfy shows the relative change in demand for
    a want. one product as the price of the other
    rises or falls.
    Derived Demand.

    DERIVED DIRECT
    DEMAND DEMAND
    JOINT Demand.

    GASOLINE
    CROSS
    ELASTICITY
    OF DEMAND
    Determinants of Demand

    Price Percentage change in quantity demand


    of a good
    Cross elasticity
    Percentage change in the price of its
    Taste of demand substitutes or complements

    Incomes
    Understanding Industrial Markets
    Industrial marketing is the marketing of goods and services
    from one business to another. Industrial goods are those an
    industry uses to produce an end product from one or more
    raw material.

    Companies that sell steel, glass, wood, or


    other raw materials offer their products for
    other businesses to use for manufacturing
    their own new products. Other industrial
    market companies might include businesses
    that sell machinery or vehicles for other
    companies to use
    The diversity of industrial customers and the
    types of products and services they
    purchase.
    The
    objective of The type of customer being served and the
    Industrial product or service being marketed influence
    marketing strategy.
    Markets

    The unique characteristics of organizational


    purchasing.
    The Diversity of Industrial Markets and
    Product Purchased
    Industrial Distributors

    Profit/Non-profit Government Commercial


    institutions Agencies Enterprises

    Original Equipment
    Users
    Manufacturer
    Products: Airplanes,
    Products: Surgical Appliances
    typewriters, desks, guns,
    & Supplies, soap and window
    paints, pencils and legal Products: steel, Products: Lubricants,
    cleaning services
    service cement, generators, coal, hand tools,
    motors, batteries, brooms, paper, and
    plastic farm products, management consulting
    raw materials

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