A new approach to industrial market segmentation

Abstract

Market segmentation strategies are often used successfully in consumer markets.A procedure is presented here which segments industrial markets on the basis of the purchasing process in buying organizations.A measure- ment tool, called a decision matrix, is developed and used in a segmenta- tion procedure based on cluster analysis.The procedure is applied to a study of industrial air conditioning, leading to results which have direct impact on the development of marketing and communications strategies.Methods of applying the approach to other areas are reviewed.^55^4^

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