Segmenting International markets
Geographic location
Economic factors
Political-legal factors
Cultural factors
Intermarket segmentation divides consumers into groups with similar needs and buying behaviors even though they are located in different countries
Requirements for Effective Segmentation
To be useful, market segments must be:
Measurable
Accessible
Substantial
Differentiable
Actionable
Selecting Target Market Segments
Target market consists of a set of buyers who share common needs or characteristics that the company decides to serve
Selecting Target Market Segments
Target market consists of a set of buyers who share common needs or characteristics that the company decides to serve
Target Marketing Strategies
Undifferentiated marketing targets the whole market with one offer
Mass marketing
Focuses on common needs rather than what’s different