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Unit 4 Assignment – AB202Assignment: Segmentation Criteria for a B2B product.The following Course Outcome is assessed in this Assignment:AB202-2: Describe the five segment criteria for a B2B product.The business market according to Lamb, Hair and McDaniel (2018), “consists of four broad [categories]: producers (businesses or individuals that purchase product to produce final products and services for profit), resellers (retailers and wholesalers), government, and institutions (i.e., schools, churches, hospitals, clubs, foundations, and nonprofits)” (p. 152). Businesses sell their products and services to these four categories of business. ReferenceLamb, C. W., Hair, J. F., & McDaniel, C. (2018). MKTG12: Principles of marketing (12th ed.). Boston, MA: Cengage. Segmentation of a B2B (business to business product) is done in a similar fashion as consumer market segmentation. There are five segmentation criteria for a B2B product just as there are for consumer markets. These 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 P’s 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.
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