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International
Marketing MKT630
VU
Lesson
# 35
INTERNATIONAL
MARKET SEGMENTATION
Basis
for Country
Segmentation
Basis
for country segmentation:
Continuing
our discussion of the earlier
session other basis for
segmenting country markets are in
the
following;
Political
Conditions:
-
Political variables form another
basis for country
segmentation.
Economic
System - Free
market, mixed or centrally
planned.
-
Political
setups - Democracies,
dictatorships, communist dictatorships
& monarchies
-
Political
Risk
-
Cultural
Variables:
Cultural
traits provide another basis to
classify countries i.e., religion,
language, education, aesthetic
-
preferences
etc.
Marketers
can also rely on a well
established measurement scales for
culture-based market
-
segmentation.
-
Hofstede's
four cultural dimensions can
also be used for segmenting
country markets
-
1.
Individualism versus
collectivism
2.
Power distance
3.
Uncertainly avoidance
4.
Masculinity - feminity
-
Behavior Based
Segments
Degree
of brand / supplier
loyalty
-
Usage
rate (per capita
consumption)
-
Product
market penetration
-
Benefits
sought after (Product concept)
-
-
-
Life
Style
Attitudes
-
Opinions
-
Values
-
Geographic
Grouping
-
Grouping
on Religion
-
Inter-market
segmentation / Global segments
-
Similar
group of consumers across
countries may be combined to form a
viable
segment.
-
Requirements
for effective international
segments:
103
International
Marketing MKT630
VU
While
an international marketer may
identify many possible segments in the
target markets, these
need
to
be evaluated for viability and
business potential. Chosen
segments need to satisfy the
following four
aspects
for implementation of effective
marketing strategies and
profitability;
Potential
in segments should be
measurable
size,
purchasing power, profiles of
people
Segments
should be accessible for
marketing programs
segment
can be effectively reached and
served
Segments
should be substantial
segments
are large and profitable
enough to serve
It
should be possible to implement
marketing action programs
effective
programs can be designed for attracting
& serving the segment
104
Table of Contents:
- OVERVIEW OF INTERNATIONAL MARKETING:Domestic marketing, Multinational marketing, Globalization of markets
- INETRNATIONAL MARKETING PROCESS:Situation Analysis, Implementation and Control, Relationship
- INETRNATIONAL MARKETING PROCESS:The Product Concept, The Societal Marketing Concept
- INETRNATIONAL MARKETING PROCESS
- ENGAGING IN INETRNATIONAL MARKETS:Expansion of technology, Merchandize export and import
- INTERNATIONAL TRADE & INVESTMENT THEORIES:Theory of Comparative Advantage, Country Similarity Theory
- INTERNATIONAL TRADE & INVESTMENT THEORIES:Global Strategic Rivalry Theory,
- INTERNATIONAL MARKETING INFORMATION REQUIREMENTS:Foreign exchange info
- INTERNATIONAL MARKETING INFORMATION REQUIREMENTS:The Product
- FOREIGN NATIONAL ENVIRONMENTS:Political systems in the world, Political risks in international markets
- FOREIGN NATIONAL ENVIRONMENTS:Types of legal systems,
- FOREIGN NATIONAL ENVIRONMENTS:Conciliation, Mediation, Global relevance
- ROLE OF GOVERNMENTS IN INTERNATIONAL MARKETS:Industry-level needs, Promotion of exports by governments
- INTERNATIONAL CULTURAL AND SOCIAL ENVIRONMENTS:The concept of culture, Attitudes & beliefs,
- INTERNATIONAL CULTURAL AND SOCIAL ENVIRONMENTS:Culture is a human medium
- DETERMINING EXPORT POTENTIAL IN INTERNATIONAL MARKETS:Political Environment
- DETERMINING EXPORT POTENTIAL IN INTERNATIONAL MARKETS:Product Potential
- INTERNATIONAL MARKETING RESEARCH PROCESS:market structure, Implementing the research plan
- INTERNATIONAL MARKETING RESEARCH PROCESS:Identify alternative information sources
- INTERNATIONAL MARKETING RESEARCH PROCESS:Issues with primary global research:
- INTERNATIONAL MARKETING RESEARCH PROCESS:Problems with data, Comparative Analysis
- MODES OF ENTRY INTO INTERNATIONAL MARKETS:Export intermediaries, Export and import management
- MODES OF ENTRY INTO INTERNATIONAL MARKETS:Licensing contract, Licensing risks
- MODES OF ENTRY INTO INTERNATIONAL MARKETS:The franchiser’s balance,
- MODES OF ENTRY INTO INTERNATIONAL MARKETS:Forms of countertrade, Specialized entry modes
- MODES OF ENTRY INTO INTERNATIONAL MARKETS:Demand factors, Political factors
- MODES OF ENTRY INTO INTERNATIONAL MARKETS:Drivers behind successful joint ventures
- MODES OF ENTRY INTO INTERNATIONAL MARKETS:Distribution agreements, Critical mass & optimism traps
- INTERNATIONAL STRATEGIC ALLIANCES:Impetus for international alliances, Management of strategic alliances
- INTERNATIONAL CONSUMER MARKETS:Model of Consumer BehaviorThe Buyer Decision Process
- INTERNATIONAL BUSINESS MARKETS:Nature of buying unit, Major influences on international business buyers
- INTERNATIONAL TARGET MARKETING:Market segmentation, Market positioning
- INTERNATIONAL MARKET SEGMENTATION:Geographic, Behavioral, Situational factors
- INTERNATIONAL MARKET SEGMENTATION:Basis for country segmentation, Stages of economics development
- INTERNATIONAL MARKET SEGMENTATION:Cultural Variables,
- INTERNATIONAL MARKET SEGMENTATION:Market coverage strategy, Socio-economic variables
- INTERNATIONAL MARKETING MIX - PRODUCT POLICY:Individual product decisions, Branding
- INTERNATIONAL MARKETING MIX – PRODUCT POLICY:
- INTERNATIONAL MARKETING MIX - PRODUCT POLICY:Modular Approach
- INTERNATIONAL MARKETING MIX – PRODUCT POLICY:Issues in labeling, Pricing, Distribution
- INTRODUCING NEW PRODUCTS IN INTERNATIONAL MARKETS:The new product development process
- PRICING IN INTERNATIONAL MARKETS:Factors influencing international pricing,
- ITERNATIONAL MARKETING CHANNELS:Channel membership, Vertical marketing, Control over distribution
- PROMOTING IN INTERNATIONAL MARKETS:Advertising, Direct marketing, Public Relationing
- REVISION