Marketing: the types of market | tutor2u Business
Study notes

Marketing: the types of market

  • Levels: GCSE, AS, A Level
  • Exam boards: AQA, Edexcel, OCR, IB

Before delving too deep into the study of marketing, it is worth pausing to consider the different types of market that exist. Markets can be analysed via the product itself, or end-consumer, or both. The most common distinction is between consumer and industrial markets; let's take a look at these types of market in more detail.

Consumer Markets

Consumer markets are the markets for products and services bought by individuals for their own or family use. Goods bought in consumer markets can be categorised in several ways:

Fast-moving consumer goods (“FMCG's”)

– These are high volume, low unit value, fast repurchase
– Examples include: Ready meals; Baked Beans; Newspapers

Consumer durables

– These have low volume but high unit value. Consumer durables are often further divided into:
White goods (e.g. fridge-freezers; cookers; dishwashers; microwaves)
Brown goods (e.g. DVD players; games consoles; personal computers)

Soft goods
– Soft goods are similar to consumer durables, except that they wear out more quickly and therefore have a shorter replacement cycle
– Examples include clothes, shoes

Services (e.g. hairdressing, dentists, childcare)

Industrial Markets

Industrial markets involve the sale of goods between businesses. These are goods that are not aimed directly at consumers. Industrial markets include

• Selling finished goods
– Examples include office furniture, computer systems

• Selling raw materials or components
– Examples include steel, coal, gas, timber

• Selling services to businesses
– Examples include waste disposal, security, accounting & legal services

Industrial markets often require a slightly different marketing strategy and mix. In particular, a business may have to focus on a relatively small number of potential buyers (e.g. the IT Director responsible for ordering computer equipment in a multinational group). Whereas consumer marketing tends to be aimed at the mass market (in some cases, many millions of potential customers), industrial marketing tends to be focused.

Subscribe to email updates from tutor2u Business

Join 1000s of fellow Business teachers and students all getting the tutor2u Business team's latest resources and support delivered fresh in their inbox every morning.

You can also follow @tutor2uBusiness on Twitter, subscribe to our YouTube channel, or join our popular Facebook Groups.

Job board

Curriculum Leader for Business Studies

Warden Park Secondary Academy, Haywards Heath, West Sussex

Teaching Vacancies

Recruitment

Advertise your vacancies with tutor2u

Much cheaper & more effective than TES or the Guardian. Reach the audience you really want to apply for your teaching vacancy by posting directly to our website and related social media audiences.

Find our more ›

Advertise your teaching jobs with tutor2u

A New Home for tutor2u Resources

We've just flicked the switch on moving all our digital resources to instant digital download - via our new subject stores.

For every subject you can now access each digital resource as soon as it is ordered. This will always be the latest edition of each resource too (and we'll update you automatically if there is an upgraded version to use).

Simply add the required resources to your cart, checkout using the usual options and your resources will be available to access immediately via your mytutor2u account.