The New Manager's Survival Guide by Steven Haines

Author:Steven Haines
Language: eng
Format: epub
Publisher: McGraw-Hill Education
Published: 2016-03-31T04:00:00+00:00

MARKET SEGMENTS AND CUSTOMER TYPES

In basic marketing terms, customers who are grouped together based on common needs or motivations compose a market segment. As I described earlier, a business can focus its efforts on other businesses or on consumers. However, there are segments within each of those areas. Businesses may be segmented based on geographic area, vertical industry or sector, or the size of the business. Consumers may be segmented based on geographic area, demographic profile, or even values or beliefs. Figure 7.3 visualizes this for you.

Figure 7.3 Business and Consumer Market Segments

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