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Lesson#34
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Segmenting International Markets
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INTERNATIONAL MARKET SEGMENTATION
Segmenting International Markets
Segmenting international markets:
Like domestic markets, international markets can also be
segmented on the following criteria;
• geographic
location
• economic factors
• political & legal
factors
• cultural factors
• intermarket
segmentation (segment consumers
with similar profile but different countries)
Basis for country segmentation:
Country markets can be segmented on the basis of their economic
status or socio-economic variables;
Economic Status Grouping:
Based on GNP per capita & level of industrialization / market
sophistication.
- First World:
include advanced industrialized nations of Western Europe, North
America, Japan & Australia, New
Zealand.
- Second World:
High income oil exporter and newly industrialized countries.
- Third World:
Group of countries that need time & technology rather than
massive foreign aid to build modern
developed economics.
- Fourth World:
Centrally planned communist run nations.
- Fifth World:
Countries with few presently known resources – people living in
massive poverty.
Socio – economic variables:
Stages of economics development
- Traditional Societies
Countries in this group are in endless quagmire of enormous
poverty, low productivity
& high illiteracy
- Pre-conditions for take-off
Advances in sciences & technology enter the agriculture sectors.
First steps are taken
to develop infrastructure.
Page
102
- The take-off
Infrastructure is mainly in place spurring city centered
industries.
- The drive to maturity
Countries at this stage are able to produce a wide variety of
products. Service sector
gains prominence.
- High Mass – Consumption
Sizeable middle class with significant discretionary incomes
have highly developed
services sector.
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