Global Marketing Chapter 7

: An effort to identify and categorize groups of customers and countries according to common characteristics

The process of evaluating the segments and focusing marketing efforts on a country, region, or group of people that has significant potential to respond

the process of identifying specific segments, whether they be country groups or individual consumer groups, of potential customers with homogeneous attributes who are likely to exhibit similar responses to a company’s marketing mix

based on measurable characteristics of populations, such as income, population, age distribution, gender, education, and occupation.

A global segment made up of young people between the ages of 12 and 19. Their consumption behavior is rather consistent across the borders

: Affluent customers who are well traveled and have the money to spend on prestigious products with an image of exclusivity

Grouping people in terms of their attitudes, values, and lifestyles.

Focuses on whether people buy and use a product, as well as how often and how much they use or consume

Consumers can be categorized as heavy, medium, light or nonuser.

Consumers can also be segmented into users, nonusers, ex-users, regulars, first-timers, or users of competitors’ products

: The process of segmenting markets on the basis of the benefits sought by buyers

A market defined in terms of a particular product category. Ex. In the automotive industry, one market would be SUV’S and another market would be sports cars.

Key elements or factors required for a business to take root and grow in a particular country market environment

Structural market characteristics whose presence or absence can determine whether the marketing model can succeed

The conventional wisdom is that the first company to move into the market has the best chance at becoming the market leader.