Category Archives: Industrial Supplies

Marketing Industrial Goods

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Industrial marketing or business to business marketing of goods and services seeks to provide industrial goods and services to other businesses rather than to customers. Industrial goods are used by an industry to produce the final products. The B2B marketing is much more professional and delicate than the B2C (Business to Consumer) marketing which is more short term and needs things on a much less scale like attractive packaging. It is not a matter of two parties and one or two products but a number of individuals and thousands of products. Marketing the industrial products is thus a complex and tedious task.

The first step in marketing industrial goods is the same as marketing any other product- identify the customer. This is an important aspect of a business. A business needs to understand the type of businesses that will be willing and able to buy the products from it. This is the fundamental of the rest of your plan. Now, you need to introduce yourself to the potential customers or business clients. You can contact them by fixing a meeting where you can interact with them face to face. However, it is equally important to be present online. Your clients will always research about your company and its reputation before signing a deal. You thus need to have a proper website up to date with all the requisite information which is what comes under Web marketing and is an important factor in determining the sales of a business.

If a customer seems interested, the producer should focus on building relationship with the client. They might not be ready to sign a contract right away. Communicate with them through email, phone and in person to improve the bond. The producer might send samples with personalized notes to lure businesses. Once the client agrees to discuss the details of a contract, the marketing phase for selling your products is almost done. However, a new kind of marketing known as relationship marketing has begun. The producer now needs to maintain the reputation it has created in the mind of the buyer. There is now a need to gradually change your way of communication with them because they are no longer clients.

Relationship marketing is about forming long term relationships with the customers. You can organize regular polls to get feedback from the customers. Learn to accept the shortcomings of the company and work upon it. Thank your customers for providing their feedback’s. Also use social media sites to connect with your clients so that you don’t miss out on anything. Have a detailed strategy to manage customer relationships. There are several options that the client has. A producer should be updated on the latest technologies and trends in the market so that the customer doesn’t get a reason to shift. Conduct regular training sessions for all the members of your staff. Relationship marketing is more delicate and thus requires a lot of professionalism which is what makes a brand a brand and others, just sellers.

Don’t forget to comply with the above mentioned factors determined by mayifind.com. Otherwise, you can chat with service experts through Mayifind mobile app and have a life-time experience in your favourite destination.

  • Contributed by Ishaan Shrivastava

 

What are industrial goods?

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Industrial goods as defined by Investopedia are made up of machinery, manufacturing plants and materials, and any other good or component used by other industries or firms. These goods depend on the demand of those goods which are manufactured with the help of these goods. They are also called industrial supplies and are broadly classified as production goods or support goods. Production goods help in the production of a final consumer good or product whereas the support goods are used in the production process of consumer goods, such as machinery and equipment. Industrial goods differ from the consumer goods in the way that consumer goods are directly used for consumption and satisfaction of human needs and have no role in the production of goods while the industrial goods are needed in the production.

 Types of Industrial Supplies

The various examples of industrial supplies are coated abrasives, end mills, gages, grinding wheel products, industrial abrasives, industrial adhesives, industrial coolants, industrial drills, indexable drills, industrial lubricants, machine taps, MRO supplies, PPE equipment, reamers, precision instruments, saw blades, welding machine, surface conditioning, etc. Let us look at the different categories of industrial goods-

  1. Installations — Example: Machinery
  2. Accessories — Example: Power Generator
  3. Raw materials — Example: Cotton, timber, etc.
  4. Manufactured parts — Example: Radiator, battery, etc., needed by a car manufacturer.
  5. Supplies or Consumables — Example: Lubricants, oils, etc.

Different industries require different types of supplies. They also need different sizes and quantities of these products depending upon their final good.

Types of buyers of Industrial goods

The following categories mainly make up the different kinds of buyers:-

  1.  Those who buy components– Several manufacturers buy small components for the products they cook up. For example- battery or radiator are the components of the car that a car manufacturing company needs. Components are crucial industrial supplies as they make up the final product. The companies can’t manufacture its good without having all the components.
  2.  Those who buy and install machines– The same car manufacturer may install a machinery to check the wheel alignment. Here, the machine is purchased for service purposes. The companies also need to do quality and safety checks for their products which they do using different kinds of machines which the industries supply to them.
  3. Those who buy for resale-They are the distributors of industrial goods. For example, there are distributors for car radiators, car batteries and so on. Several industries sell their products through distributors who sell it further to the company’s manufacturing consumer goods.

 Characteristics of Industrial goods

Industrial goods have a derived demand that is to say; their demand is determined by the goods they help to manufacture. The production of the industrial goods requires weighty investments which the industries manage through shares or through financial institutions. Industrial goods have a complex backdrop. It is not possible for anyone to assess their quality without technical knowledge. The market for these goods is throttled because they are of no use to the consumers. Sometimes, their market is highly concentrated. For Example- the machines required for making cotton are needed more in Coimbatore. One advantage of these goods is that they have an inelastic demand meaning price has no effect on their demand. Reputation, as in any other field matters a lot while selling industrial goods. The companies buying these goods are also careful about the products they buy. They don’t compromise with the quality of these goods in any situation and are aware of the alternative models and their prices and the prices of other competing models. Compared to the market of consumer goods, this market is more professional and deliberate.

Don’t forget to comply with the above mentioned factors determined by mayifind.com. Otherwise, you can chat with service experts through Mayifind mobile app and have a life-time experience in your favourite destination.

  • Contributed by Ishaan Shrivastava

Industrial Supplies

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The most important component required to keep the success rate of a company at its higher level are the industrial supplies of that company. If you are in charge of your company’s industrial supplies then you need to take special care while choosing your supplies provider. Because if you think every company provides equal quality industrial products than you need to explore to understand that it’s simply not the case. This is commonly the case that most of the people believe any supply company is good to purchase from.

Why to explore?

This is a common question arising in every purchaser’s mind. Why to explore when we know where to purchase from and why to waste our time? Time is important, so is money. The biggest disadvantage of not exploring is that you don’t that you might get more for your money and not only in the case of supplies but also in the case of customer service that you receive from the company. You may find yourself lucky when you receive a magnanimous discount offers that may save a lot of money. Companies are always in a race to attract more and more customers and to keep them in the race they often come up with new strategies to attract customers. These strategies, in turn, may prove beneficial for you and your companies industrial supplies need.

How to choose a perfect Industrial supplier?

Now, once decided to explore, the next question pops up in mind is how exactly to find and approach an industrial supplier that would prove beneficial to your company? This question is obvious as there are hundreds of suppliers and each of them claims to provide the best than any of their fellow competitors. The best way to find a supplier perfect for you is to identify the companies having a strong reputation in the market. The other factor is to find someone who has been in the business for a long time. And the most important factor is to choose a supplier that specializes in the products and services that you need, rather than the one who offers everything for every company.

Where to start?

In this internet era you can sit in a small cabin and find everything and all the information that you need just on a few clicks. Just type in the products you need for your company and the internet will give numerous searches. But there are few websites who have made this task simpler and take you directly to the supplier of your choice. For example, mayifind.com offers you a platform where you can find the supplier according to your needs. The best feature this website offers is that you get all the relevant information required to contact the supplier like the address, contact number and the company’s website.

Choosing an industrial supplier can be a tough task but exploring the market can prove all the energy you spent worthwhile. Besides, we here at mayifind.com ensure that you don’t have to spend a lot of time and energy searching for the best supplier you require.

  • Contributed by Harshal Pawar