Business Market Segmentation - Explained
How do we Segment Business Markets?
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Table of ContentsWhat is Business Market Segmentation?
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.