What is industrial market segmentation? How is it different from consumer market segmentation?

What is industrial market segmentation? How is it different from consumer market segmentation?

In Industrial market segmentation, the market is segmented according to the industrial and business customers to provide them the necessary guidance for framing certain strategies and policies. Government agencies and industrial associations may follow certain standardised schemes. However private entrepreneurs frame their own independent schemes for their organisations. As compared to consumer market segmentation, industrial market segmentation is is different and more carries with it more challenges being much more complex as in the process of purchasing, on what basis to purchase ,the large scale operations of its business,aspects of financing and contracting and also the complexity of its products and services.