MarketingLesson 1 of 3 in the course Market Segmentation, Targeting, and Positioning

International Market Segmentation: Geographic, Economic, Political, and Cultural Factors

5 flashcards · 5 quiz questions · 5 match pairs · 5 fill-in sentences · English

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Summary

International market segmentation helps companies understand and serve customers across countries with different needs and circumstances. This lesson introduces the challenges that make international segmentation complex and the benefits marketers can gain from doing it well.

Customers differ in their needs, wants, and demands, so companies generally cannot serve everyone effectively with one offer. This is true in international markets just as it is in consumer and business-to-business markets. However, international segmentation adds complexity because countries can differ in their cultural, economic, and political environments.

All flashcards

Infrastructure in international market assessment
Physical systems such as roads, electricity, and communications that support daily life and commerce.
Tariff
A tax imposed on imported goods.
Economic segmentation
Grouping markets by economic factors such as development, income, and industrialization.
Cultural segmentation
Using shared characteristics such as language, religion, values, and attitudes to understand customer groups.
Think global, act local
Keep broadly suitable elements while adapting products or marketing to local cultural needs.

Quiz questions

  1. What is the primary basis of geographic segmentation?Answer: The locations of markets, such as regions or countries.
  2. Why does infrastructure matter when assessing an international market?Answer: It can affect whether firms can deliver, promote, and support products.
  3. What does an import quota do?Answer: Limits the amount of a product that may be imported.
  4. Which combination generally characterizes a developed country?Answer: High industrialization and income, with a higher standard of living.
  5. What does a local content requirement generally require?Answer: A specified share of a product or its inputs to come from the country.

Based on Principles of Marketing by Dr. Maria Gomez Albrecht, Dr. Mark Green, Linda Hoffman (OpenStax), licensed CC BY 4.0. Adapted into a summary, flashcards and quizzes.

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