Date Added: Aug 2010
Industrial products had a bit different problem, since many of the suppliers and the customers were somewhat more interdependent. Still, some very large companies with big global purchasing power are known for their tough, competitive purchasing style. As industrial customers consolidated and grew into "Mega-customers" they also grew a "Get the lowest cost" mentality. Function is important in all products. Performance is important in all services. Knowing what the critical decision criteria can be the key factor in deciding how to differentiate innovative new offerings. Price is always important, but many times, it is not the sole or even the primary decision factor.