Marketing factors markets can often be segmented into

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Marketing factors: Markets can often be segmented into groups responsive to different marketing factors such as price deals, product quality, and service. This information can help the company in allocating its marketing resources. The marketing variables are usually proxies for particular benefits sought by buyers. A company that specializes in a certain marketing factor will build up hard-core loyals seeking that factor or benefit. BASES FOR SEGMENTING INDUSTRIAL MARKETS Industrial markets can be segmented using many of the variables employed in consumer market segmentation. Demographic variables are the most important basis for market segmentation. They are followed by operating variables and personal characteristics. The following factors should be borne in mind to segment industrial market. Demographic Factors: The type of industries to which the goods sold, the size of the companies and geographical area shall be the demographic factors to which attention should be paid. For example, a rubber tyre company’s buyers may be car manufacturers, aircraft manufacturers, heavy vehicle manufacturers etc. Annamalai University
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