Segmenting Business Market

Segmenting Business Market

Segmenting Business Market

Many firms will have business target markets in addition to consumer target markets. For example, consider a bank or an airline. As well as targeting individual consumers, a key part of their marketing efforts (and their profitability) will be obtained from Segmenting Business Market. There are some organizations that only pursue business markets (such as consulting firms), but generally, most firms will at least consider targeting both individual consumers and businesses.
Some of the bases for segmenting the consumer market are also useful for segmenting the business market, for example, geographic basis, business demographics like size, etc., Segmenting Business Market generally can be segmented by:
Type of customer
Size of the customer
Type of buying situation

segmenting business market

Type of Factor

Consumer Markets

Industrial / Organisational Markets

Characteristic of people/or organisation
Age, sex, race
Income
Family size
Life cycle stage
Location
Lifestyle
Industry
Location
Size
Technology
Profitably
Management
Purchase/use situation
Size of purchase
Brand loyalty
Purpose of use
Purchasing behaviour
Importance of purchase
Choice criteria
Application
Importance of purchase
Volume
Frequency of purchase
Purchasing procedure
Choice criteria
Distribution channel
Users’ needs and preferences for product characteristics
Product similarity
Price preference
Brand preferences
Desired features
Quality
Performance requirements
Assistance from suppliers
Brand preferences
Desired features
Quality
Service requirements

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