The Thompson Spring Company has developed a separate marketing strategy for each of the industries that uses its products. These industries include makers of machine tools, bicycles, surgical devices, telephones, and missile systems. This provides an illustration of segmentation on the basis of:

Question

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The Thompson Spring Company is segmenting its market based on the different applications or uses of its products in various industries, which is an example of segmentation by product application.

The Thompson Spring Company Has Developed a Separate Marketing Strategy