Question

What is industrial marketing and consumer marketing?

Answer 1

The basic difference is Industrial market (Factor Market) is the market which produces goods and services, with inputs like labour, land, and machinery and these goods are consumed by Consumers in Consumer Market (Product Market). Market : The place where you find buyers and sellers.

Answer 2

While consumer marketing deals with product markets (think finished goods that are largely bought by individuals, like shoes, clothing, books, etc.) industrial marketing deals with factor markets, or highly specialized products and services for select consumers (think labor, machinery or unfinished products