Industrial market segmentation is a scheme for categorizing industrial and business customers to guide strategic and tactical decision-making, especially in sales and marketing. While government agencies and industry associations use standardized segmentation schemes for statistical surveys, most businesses create their own segmentation scheme to meet their particular needs. While similar to consumer market segmentation, segmenting […]
Industrial Market Segmentation| Business Marketing
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Strategic Planning Process for Industrial Marketing
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In this article we will discuss about the strategic planning process for industrial marketing. Stage-1 – Defining the Organization’s Mission: A company’s mission reflects the business domain or framework within which the firm will operate. The business domain of the organisation consists of the customer groups that will be served, basic products that will be […]
Pricing over Product Life Cycle | Business Marketing
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A Product’s Life Cycle (PLC) can be divided into several stages characterized by the revenue generated by the product. The life cycle concept may apply to a brand or to a category of product. Its duration may be as short as a few months for a fad item or a century or more for product […]