Quick Links

 

Login



Other Articles by Authors

Ioan Enescu



Authors and WSEAS

Ioan Enescu


WSEAS Transactions on Business and Economics


Print ISSN: 1109-9526
E-ISSN: 2224-2899

Volume 16, 2019

Notice: As of 2014 and for the forthcoming years, the publication frequency/periodicity of WSEAS Journals is adapted to the 'continuously updated' model. What this means is that instead of being separated into issues, new papers will be added on a continuous basis, allowing a more regular flow and shorter publication times. The papers will appear in reverse order, therefore the most recent one will be on top.

Volume 16, 2019


Ways to Target on Basis of Buying Strategy

AUTHORS: Ioan Enescu

Download as PDF

ABSTRACT: The heart of future segmentation system for industrial markets lies in the ability to distinguish between buying strategies in customer and prospect firms. The author’s observation that customers’ markets and marketing strategies provide a surrogate for buying approaches gives us the foundation for a usable system. Not one that applies to every industrial sales situation but one that will apply where demand is derived from demand for the customer’s products. Since this represents the majority of industrial sales situation we are able to segment with more effect that with the limited tools available up till now. We can observe how marketing channel strategies and promotions differ across these market types. And, since marketing strategy relates closely to buying, we can segment accordingly. Looking to the future development of industrial segmentation strategies we might add other information of value in targeting. These include: financial information and creditworthiness, ownership information, sector growth and regional growth. The paper provides us with the mean to target on basis of buying strategy as well as firm demographics. Much remains to be done and the authors note limitations to their research, but here is a method for segmentation that will improve industrial marketing planning and targeting.

KEYWORDS: strategic segmentation, industrial marketing.

REFERENCES:

[1] Cardozo, R., N., Segmenting the industrial markets, King R. L. Ed., AMA Fall Conference Proceedings, American Marketing Association, Chicago, IL.

[2] Griffith, R., L., Pol, L., A., Segmenting industrial markets, Industrial Marketing Management, vol. 23, 1994

[3] Lehmann, D., R., O’Shaughnessy, J., Difference in attribute importance for different industrial products, Journal of Marketing, Chicago, IL, April 1974

[4] Sudharshan, D.,Winter,F., Strategic segmentation of industrial markets, Journal of Business & Industrial Marketing, vol. 13, New York, 1998

[5] Wilson, D. T. Industrial buyers’ decision making styles, Journal of Marketing Research, Chicago, IL November1971

[6] Webster, F., E., Industrial marketing strategy, John Wiley & Sons Publishing, New York, 1979

WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 16, 2019, Art. #38, pp. 337-344


Copyright Β© 2018 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution License 4.0