In CRM Apps, when will you use Markets & Segments, Categories, Industries, and Territories?

Markets & Segments

Markets & Segments allow you to classify your customers based on how you view your market. To know more about segmentation, follow the link given below.

http://en.wikipedia.org/wiki/Market_segmentation

As noted in the post, there are many ways in which you can approach segmentation and depend on what you choose, your approach may overlap with other features.

For example, if you do geographic segmentation, it may be pretty close to the territories. The factor to consider is how your customers identify themselves with that segment.

Categories

Categories would represent how you may want to categorize your customers. For example, you can have a categorization based on their potential lifetime value and have your categories as High Potential, Medium, and Low. There are also other categorization schemes. We've got many requests for multiple categorization schemes and are in the process of introducing "tags" in V5.

Industries

Industries are pretty straight forward. At this point, there is no functionality associated with this. So this is another classification mechanism.

Territories

Finally, Territories allow you to manage your sales teams better. This is typically needed for large sales organizations.