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Industrial Markets

13 May, 2016 - 13:23

The industrial market consists of organizations and the people who work for them, those who buy products or services for use in their own businesses or to make other products. For example, a steel mill might purchase computer software, pencils, and flooring as part of the operation and maintenance of their business. Likewise, a refrigerator manufacturer might purchase sheets of steel, wiring, shelving, and so forth, as part of its final product.2 These purchases occur in the industrial market.

There is substantial evidence that industrial markets function differently than do con sumer markets and that the buying process in particular is different.