In contrast to consumer markets, in industrial markets number of customers are relatively less and they tend to purchase in large volumes. Hence, industrial customers go into the nitty-gritty of product details and take ultimate purchase decisions in a group. (more…)
Useful Notes on the Characteristics of Industrial Market Segmentation
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Useful Notes on the Segmentation of Consumer Markets by Characteristics
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As market segmentation is more appropriate for consumer markets, here we have indicated the basis based on consumer markets only. Consumer markets can be segmented based on following characteristics: 1. Geographic Segmentation: Geographic segmentation is a way of clustering of markets based on geographical variables. Such variables encompass following areas: (more…)
6 Common Services that are Provided by the Banks
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Banks and financial institutions are an internal part of the world of business. Given their primacy, it is inconceivable for any business organization to do business without a bank account or a banking transaction. (more…)