LECTURE ON CHAPTER 7SEGMENTATION, TARGETING, AND POSITIONINGWe already know the importance of market segmentation in marketing strategy. Segmenting global markets allows us to pursue specific market segments on a much broader scale than we considered in Marketing and Society. You recall, however, how difficult it was to decide on the variables that you would use to segment the market place. It is for this reason that companies buy “canned” segmentation systems such as VALS2 and PRIZM when they want to target domestic market segments. This chapter provides a lot of information not only on how to segment global markets, but some of the segmentation systems that have been used to understand global market segments.The global environment must be analyzed before a company pursues expansion into new geographic markets. Through global market segmentation, a company can identify and group customers or countries according to common needs and wants.
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psychographic segmentation, Global Market Segmentation, Psychographic segmentation groups