A PSYCHOGRAPHIC SEGMENTATION OF INDUSTRIAL FAMILY BUSINESSES

In publicly held firms, the personal objectives of the individual mana ger (e.g., personal gain, power, social responsibility) are discipline d by the need to deliver value to shareholders. In family firms, where the CEO is often the controlling shareholder, personal and family obj ectives can become firm objectives. As family businesses account for t he majority of all business establishments making purchases and an est imated 50% of all business purchasing,: it is important to understand the range of CEO motivations for the business, and the impact of those motivations on purchasing attitudes and behaviors. Family business CE O motivations are profiled through the technique of psychographic segm entation, and implications for organizational buyer behavior are exami ned.