Assignment: Segmenting the Market
Describe your Target Segment in terms of geographic, demographic, psychographic and behavioural parameters. Identify 2–3 personas (typical user) in this segment and describe their reasons to buy your product or service.
B2BSphere is a B2B marketplace between global SMB buyers and Asian SME/MSME (Primarily focused on India and Indian sub continent SME). The real value we provide to buyers are
1. Quality Check Protection
2. Ontime Shipment Guarantee
3. Payment Protection
Geographic Target segment : Buyers side : SMB Buyers in North America (Covering US & Canada only currently). Moving forward, this could be extended to Middle east, Europe as well.
Demographic : First generation retailers who need to source products at attractive price points, the value based service we deliver will drive adoption of B2BSphere, there by reducing the dependency on third party brokers and saving them money on products and burden of ensuring quality checks. The end consumers who would buy from these buyers could be students aged 18–24, parents of kids who need in-expensive, but quality products, sports clubs who need attires, trophies to suit the league, tournaments etc., One segment that could be applicable are companies or stores that are smaller city chain stores, Mom & Pop Stores, Niche product buyers in bulk. Certain Categories that we offer might resonate with niche demographics as well.
Psychographic : For our handicrafts offering — we have to segment based on life stage they are in
1. Students and Bachelors
2. Couples who have recently started working
2. Settled Couples in starter homes or larger homes
Behavioural: This segment could emerge as we move forward to sort of cross sell products to additional products and services to our customers.
As you can imagine, we operate, function and execute in multiple categories giving us an opportunity to really expand to multiple segments across the world.
