Market segmentation in occupancy analytics and space management business-to-business marketing

Abstract

ABSTRACT: Customers tend to purchase products and services that offer superior value for money. In order to meet customer needs and offer competitive value, segmentation is very important to be considered in an inventive way for successful and sustainable business. Segmentation plays a key role in business-to-business and business-to-consumer markets.

This research analyses two success case companies on their occupancy analytics and space management offerings from the perspective of market segmentation and business-to-business marketing by the use of secondary data.

The study covers Buyer Behavior, Market Segmentation and Information Technology (IT) network development in Business to Business (B2B). The focus is on analyzing potential customer purchasing decisions in B2B to form sales strategies to meet respective segment needs. It also classifies precise industry within a market for customized marketing, sales and services according to the needs. The study findings are presented after data analysis with the model derived from literature together with the key theories.

The empirical section of the study is analyzing two success case companies. The secondary data of the case companies was used then qualitative deductive content analysis was carried out. To reach its conclusions, the study utilized the traditional research whereby data was analyzed to find what it reveals about research questions and linking it to the known theories.

The success case companies offer occupancy analytics solutions to different kinds of organizations including hospitals, office spaces and warehouses. Among other things, they make different sensors with emphasis of wired technology by one company (XY Sense) and wireless technology by the other (Haltian). The companies demonstrate application of B2B principles including effective segmentation of their customers based on needs, technology, characteristics and decision making power. Moreover, they have used different ways to make their products and more appealing to their customers by personalizing the products, use unique technology and partnering with others including competitors for a win-win situation. They have also prioritized privacy and security of their customers which has been an area of concern for many users.

The findings from this study emphasize the importance of market segmentation, value positioning, privacy & security consideration in this era of advancing technology and dynamics in occupancy analytics and space management.

KEYWORDS: Market Research, Domestic Market, Business to Business Marketing, IT Network Services, Customer Attraction and Retention