(noun)
Products that are sold to other businesses as opposed to end consumers, and used to produce other products.
Examples of business products in the following topics:
Categories of Business Products
B2B transactions involve many classifications of business products, including the following:
Agriculture and mining businesses are concerned with the production of raw materials, such as plants or minerals.
Equipment: Equipment includes products used in production activities and operational activities.
Processed Materials: These products are created from raw materials and are used in the production of another product.
Supplies: These products facilitate both production and operations, but are not part of the final product.
Business products are sold to other businesses, as opposed to convenience, shopping, and specialty products, which are sold to consumers.
Business products can be as diverse as crude oil, wood, machinery, photocopiers, and paper.
Business products represent a very important product category, and in the case of some manufacturers, they are the only product sold.
These are goods that are sold to other businesses, and used to produce other goods.
Business services include maintenance, repairs, and advisory.
Business products are goods or services that are sold to other businesses rather than to end-consumers.
Although consumer products are more familiar to most individuals, business and industrial goods represent very important product categories as well.
In the case of some manufacturers, business products are their entire focus.
Business services include maintenance (e,g., office cleaning), repairs (e.g., plumbing), and advisory (e.g., legal).
Quarries are examples of business that provide extractive products for other businesses.
Business marketing includes all activities involved in communicating the value of a business's products and services to another business.
Business marketing is the practice of individuals or organizations (i.e., commercial businesses, governments, and institutions) promoting and selling products and/or services to other organizations.
Companies that act as suppliers or manufacturers may also integrate other business products into their own product offering to improve performance and functionality.
Like business-to-consumer (B2C) marketing, business-to-business (B2B) marketing, or business marketing, relies on product, price, placement, and promotion to competitively position the product offerings, promote the brand, and efficiently use company resources.
Similar to consumer marketers, business marketers must create an integrated marketing communications strategy to ensure products and promotional methods complement and support each other.
Consumer goods marketing and business-to-business (industrial) marketing
Consumer goods marketers sell to individuals who consume the finished product.
Business-to-business marketers sell to other businesses or institutions that consume the product in turn as part of operating the business, or use the product in the assembly of the final product they sell to consumers.
Business-to-marketers engage in more personal selling rather than mass advertising and are willing to make extensive adjustments in factors such as the selling price, product features, terms of delivery, and so forth.
In addition, consumer goods marketers might employ emotional appeals and are faced with the constant battle of getting their product into retail outlets.
Business marketing is the practice of organizations facilitating the sale of their products or services to other companies or organizations.
Business marketing is the practice of individuals or organizations—including commercial businesses—facilitating the sale of their products or services to other companies or organizations that in turn resell them, use them as components in products or services they offer, or use them to support their operations.
Business-to-business (B2B) markets differ from business-to-consumer (B2C) markets in many ways.
For one, the number of products sold in business markets dwarfs the number sold in consumer markets.
Business products can be very complex.
Because of the vast quantities of materials and energy that many products and services require, not to mention the huge amounts of waste they produce while they're being manufactured, making products and services more efficient (and more efficiently) is crucial to reducing the costs of running a sustainable business.
To be sure, redesigning products and the methods used to make them is time-consuming and arduous; however, many practitioners attest that it is also one of the most financially rewarding.
What products will be offered (i.e., the breadth and depth of the product line)?
How will the products reach those (i.e., the distribution channel and are there viable possibilities that create a solid business model)?
The product mix of a company is generally defined as the complete set of all products a business offers to a market.
The product mix (sometimes called "product assortment") is made up of both product lines and individual products.
An individual product is a particular product within a product line.
Usually B2B transactions involve purchasing items that will make up the final product.
This person can help the purchaser plan for, set up, and use the B2B product.
A trade show provides a platform for many different companies in the same general industry to display their products for other businesses to buy.
A business will often purchase products at a trade show for use in their own products, making trade shows an important component of Business-to-Business transactions.
Typically, a B2C customer will purchase a product or service and, once the transaction has been complete, will have limited continued interaction with the company with regards to that product.
In the emerging global economy, e-business has become an increasingly necessary component of business strategy.
The term electronic business (commonly referred to as E-business or e-business) is sometimes used interchangeably with e-commerce.
Specifically, the use of ICT in business has enhanced productivity, encouraged greater customer participation, and enabled mass customization.
Production processes including procurement, ordering and replenishment of stocks; processing of payments; electronic access to suppliers; and production control processes
Electronic applications enhance information flow between production and sales forces to improve sales-force productivity.