Submarket
The sub-market is a market in which a certain product group or type of service is offered and in demand .
General
Product or service groups are the combination of different, but similar products or services in a strategic sales unit. In the clothing industry , a division into women's clothing, men's clothing and children's clothing can be made as a product group, so that each product group forms a sub-market of the entire clothing market. The mass media market is made up of the sub-markets of newspapers , magazines , books , online services , radio and televisiontogether. In the case of newspapers alone, the more specific sub-markets of daily newspaper , weekly newspaper or Sunday newspaper would be possible. In the case of services, for example, the financial market consists of the money market , capital market and foreign exchange market . The bond market and the stock market in turn form a sub-market of the capital market.
organization
The division into submarkets is accompanied by the formation of strategic business areas within the strategic management of companies . A marketing can be useful only be made if the same time a segmentation takes place.
Demarcation
While the sub-market is located at the product level, the market segment is a specific customer group with largely homogeneous needs . If you follow this dogma, the stock exchange segment is, strictly speaking, a sub-market because it is about product groups.