: Describe the five segment criteria for a B2B product. According to Lamb et al.

: Describe the five segment criteria for a B2B product.
According to Lamb et al. (2018), businesses sell their products and services based on four categories of business which include [1] “producers (businesses or individuals that purchase a product to produce final products and services for profit), [2] resellers (retailers and wholesalers), [3] government, and [4] institutions (i.e., schools, churches, hospitals, clubs, foundations, and nonprofits)” (p.152).
Reference
Lamb, C. W., Hair, J. F., & McDaniel, C. (2018). MKTG12: Principles of marketing (12th ed.). Cengage.
Segmentation of a business-to-business (B2B) product is done similarly to consumer market segmentation. There are five segmentation criteria for a B2B product just as there are for consumer markets.
These criteria include:
Measurable: Have measurable information about the segment (e.g., size, discretionary income, etc.).
Substantial: The segment must be large enough to warrant separate segmentation.
Accessible: The company must be able to reach the segment.
Distinguishable: The segment must act differently and respond differently than other segments.
Actionable: The company must be able to implement the target marketing mix (see the 4 Ps learning activity).
For this assignment, you will apply these five segmentation criteria addressing the following checklist items.
Checklist:
· Choose a B2B product that you find on the Internet (examples may be business software, printers, cell phones for business usage, company cars, etc.).
· Describe the category of business and the five segmentation criteria as they apply to this B2B product.
Access the Assignment grading rubric located in the Course Resources area.
Meets all criteria:
● List the Choosen B2B product.
● Discusses the B2B product in detail.
● Describes the application of all five segmentation criteria to the chosen product in detail.
● Describes the category of business for the chosen product and gives detailed rationale.