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Describe how companies identify their markets?

Updated: 9/25/2023
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Shredderman22504

Lvl 1
9y ago

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Every company or business in North America is tagged with an SIC (Standard Industrial Classification) code as well as a NAICS (North American Industrial Classification System) code. This allows the government as well as other businesses categorize their customers or competitors. Depending on what market or service you provide, you can look up your customer's SIC or NAICS code and then find other companies similar to the one you looked up. By doing this exercise, you will be able to segment your customer and prospect databases and target market to them.

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