Is there a trillion dollar family business market?

https://doi.org/10.1016/0019-8501(94)00081-7Get rights and content

Abstract

Should it matter to industrial marketers that most businesses in the United States are family businesses? It doesn't matter if “family business” status is a distinction without a difference, and it does if family businesses engage in buyer behavior that is significantly different than that of other firms in purchasing at least some classes of goods and services. There is a mounting body of evidence which indicates that the family business market meets segment adequacy criterion of measurability, substantability, accessibility, and actionability. New research reported here demonstrates that the family business market is significant for providers of professional and financial services, and certain other categories of products. This review of the growing family business literature provides implications for managers whose markets include a high proportion of family businesses.

References (23)

  • Richard Beckhard et al.

    Managing Continuity in the Family-Owned Business

    Organizational Dynamics

    (1983)
  • Ivan S. Landsberg et al.

    Family Business as an Emerging Field

    Family Business Review

    (1988)
  • M.H. Stern

    Inside the Family-Held Business

    (1986)
  • Forbes 400

    Forbes Magazine

    (1993)
  • Farnham, A. The Windfall Awaiting the New Inheritors, Fortune May 7,...
  • Russ Alan Prince

    Banking on Affuent Businesses

    (1990)
  • Nancy Bowman-Upton

    Family Business Succession

    Baylor Business Review

    (1988)
  • W. McWhinney

    Entrepreneurs, Owners and Stewards: The Conduct of a Family Business

    New Management

    (1988)
  • Joseph Astrachan

    The Family Business Market: A Conversation with Laura Yanes

    Family Business Review

    (1992)
  • Karen M. File et al.

    Marketing to the Family Firm: A New Consideration for Business Marketers

    Journal of Business & Industrial Marketing

    (1994)
  • Dirk R. Dreux et al.

    Marketing Private Banking Services to Family Businesses

    International Journal of Bank Marketing

    (1994)
  • Cited by (0)

    View full text