Market segmentation in industrial baker?s yeast market and determination of key success factors for each of the segments

Market segmentation, in global competition, is the best way to better allocate a company?s resources and satisfy their customers in an effective way while sustaining a competitive advantage (Wilson, 1998). As earlier market segmentation studies made on consumer and industrial markets are examined, it is seen that both markets used same demographic and socioeconomic variables to segment their markets. But nowadays the situation has changed and industrial market segmentation through world is perceived to be more complex than consumer market segmentation (Griffith and Pol, 1994)The purpose of this Ph.D. thesis is to segment ?Industrial Baker?s Yeast? market and develop key success points for each segment where in reality the production capacity is nearly four times of the yearly total market size. During our study we both used qualitative and quantitative research techniques. In-depth interviews and face to face interviews were made with bakeries. Four segments were determined after our study and the data obtained after the quantitative part was subjected to cluster analysis (k-means) to define the segments and the key success factors for each segment.Keywords: Market Segmentation, Industrial Market, Baker?s Yeast