Industrial Products - Definition, Types & Example
What is Industrial Products?
Industrial Products are the products which are not directly used by the end customers but are used by the industries. These products are used in Business to Business (B2B) scenarios mostly.
There are various characteristic and features which are not required by the normal customers in day to day life but only are required by the industries. So products are designed keeping in mind the industrial requirement and specific to them. Industrial products are one of the two categories of products, the other being consumer products.
Types of Industrial products
1. Raw Materials
2. Machinery
3. Parts
4. Tools & Supplies
The types above can be classified as industrial products as they are more suited to an industrial and B2B setup. There are certain scenarios in which the same product might be used by both industrial and consumer groups. A computer may be used by a consumer as well as industry but the uses of it might be very different. Similarly cold storage can be used by both the groups but then the performance and power requirement might be very different.
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Example of Industrial Products
Products like glue having high adhesive strength are not required by people in day to day to life but are key requirement for various industries like automobile, leather etc. Similarly products like heavy machinery and robotics might be used by car manufacturers but not by end users or customers.
Hence, this concludes the definition of Industrial Products along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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