Industrial marketing, also known as business-to-business (B2B) marketing, involves the sale of goods and services between businesses. It focuses on marketing industrial goods, which are materials and components used by industries in the production of end products. Industrial marketing is characterized by one-to-one relationships between sellers and buyers, complex multi-stage buying processes that require approval from several decision makers, and long selling cycles that involve prospecting, qualifying leads, presentations, contract negotiations and more.