Business Market Segmentation - Explained
How do we Segment Business Markets?
Written by Jason Gordon
Updated at September 28th, 2021
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
- Courses
What is Business Market Segmentation?
When the target market is a business (rather than an individual consumer), there are different techniques for segmenting the customer market. Some business segments might include:
- Product Use (How the product is used by the customer)
- How frequently they purchase (Ex. Single purchase, Recurring)
- Consumer Type (Retailer, Manufacturer, Gov., Etc.)
- Industries (Technology, Logistics, Financial, Etc.)
- Geography (Location of the Customer)
- Purchase Process (The process by which the sale is carried out).
All of these make for meaningful and useful business market segments.
Related Topics
- What is a Market?
- What is Target Marketing?
- What is Market Segmentation?
- How Many Segments to Target?
- How Do We Segment Consumer Markets?
- Benefit Segmentation
- How Do We Segment Business Markets?
- Using Data for Market Segmentation
- Buying Power Index
- What is Customer Relationship Management?
- What is Behavioral Targeting?
- What is Positioning?
- What is a Positioning Statement?
- What is a Perceptual Map?
- Cultural Factors Affecting Marketing
- International Marketing is Challenging
