Because institutional markets represent a wide variety of organizations, marketers do well to develop standardized solutions that meet the general needs of all.

Institutional Markets

Markets consisting of organizations like hospitals, schools, and governments that procure goods and services to fulfill their responsibilities.

Standardized Solutions

Predetermined methods or products designed to be uniformly applied across a variety of situations or industries.

Marketers

Individuals or organizations that promote, sell, and distribute products or services to satisfy customer needs.