Determining the best business market segment is as important to business-to-business (B2B) marketing as determining the best consumer market segment is to business-to-consumer marketing. Both types of businesses need to identify and define their target markets.

I recently released an article on this topic. It covered selecting market segments by organizational characteristics. If you came here from that article, you’ll find much more information about selecting your best business market segment through this series of posts.

This post reveals how B2B businesses can select the best business market segment for their products and services by the following topics.

Business Market Segment: Product Characteristics

• Business Market Segment Based On Price Sensitivity

• Business Market Segment Based On Required Quality

• Business Market Segment Based On Desired Benefits

• Business Market Segment Based On Technical Requirements

• Business Market Segment Based On Speed Of Delivery

Business Market Segment Purchasing Characteristics

• Business Market Segment Based On Purchasing Approaches

• Business Market Segment Based On Purchasing Situation

• Business Market Segment Based On Volume and Frequency

Business Market Segment: Decision Makers’ Characteristics

• Business Market Segment Based On Purchasing Function

• Business Market Segment Based On Risk Acceptance

• Business Market Segment Based On Personal Characteristics

Overview Of Business Market Segment Article.

As a B2B business owner, you can improve your marketing by targeting a business market segment.

Organizational, financial and industrial characteristics – called firmographics – provide the easiest.

Organizational firmographics include:

• Size of the business – number of employees, number of branches, and locations;

• Age of the business,

• Geographic location of the business.

Knowing these firmographics will help you to determine the most profitable business market segment for your B2B business.

Financial firmographics include the business’ market share, its sales volume, and its amount of profit. These firmographics can help you determine how much profit to expect from a business market segment.

Industrial firmographics enable you to pick businesses in industries who need the products that you sell. These firmographics will also help you to better understand the types of customers that will be in a business market segment.

You can read the next post in this series on Business Market Segment:

Add to Onlywire

Get Your Free Target Market Report by completing the form below:

Posted 4-15-08: Business Market Segment:

Introduction

This entry was posted on Tuesday, April 15th, 2008 at 8:33 am and is filed under Business Market Segments.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.