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Industrial marketing, which some marketing experts have described as a 'sleeping giant', has been the subject of very little research. And this despite the fact that it generates higher volumes of sales than consumer marketing. This book is an attempt to create in the reader an interest in this challenging yet not much talked about subject. Several developments have transformed industrial marketing in the last few years:
The nature of competition has undergone a sea change in the industrial marketplace. Industrial marketing has reached a stage where we can say, "The Business Network is the Business Strategy." Today, competition is between value-chain partnerships rather than between industrial firms.
From the 1990s, the Government of India has been supporting liberalization by taking various positive measures, including the permitting of foreign direct investments in capital intensive industries. In addition to setting up joint ventures and subsidiaries, many firms have adopted the outsourcing route. India's progress on both the domestic and export fronts has resulted in a growing demand for professionals to market industrial products, services, and solutions to a wide range of industries.