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A European Perspective
Overview
Global Market Segmentation
criteria: geographic, demographic, psychographic, behaviour, and benefit segmentation
Global Targeting Selecting a Global Target Market Strategy Global Product Positioning
High-Tech or High-Touch Positioning
Summary
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Learning Objectives
To understand the objectives and usefulness of global market segmentation To know the approaches to global market segmentation using different segmentation criteria to define target groups To learn different ways of positioning products in global markets
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Demographic segmentation
eg age, gender, income, occupation
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Psychographic Segmentation
... is based on attitudes, values and lifestyle ... is measured through extensive item batteries which cover activities, interests and opinions (AIO-studies) lifestyle surveys, eg by
the Research Institute of Social Change (RISC) the Centre de Communication Avanc (CCA) and the Values and Life Styles (VALS) by SRI International
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Description
Driven and ambitious; care about power and control; expect to be noticed Old money; a careven an expensive oneis just a car, not an extension of ones personality Ownership is what counts; a car is a trophy, a reward for working hard; being noticed doesnt matter
Fantasists
9%
Source: ALEX III Taylor, Porsche Slices up its Buyers, Fortune, 16 January 1995, p. 24
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5 global psychographic segments represent 95% of the adult populations in the countries surveyed.
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Europanels Eurostyles
Source: adapted from Josef Mazanec, Exporting Eurostyles to the USA, International Journal of Contemporary Hospitality Management, 5,4 (1993): p.4
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Benefit segmentation
Today, consumers basic needs are fulfilled. Therefore, consumers seek additional value from purchase decisions; eg cars: in addition to movement buyers seek personal safety, image, superior engine power (speed) etc.
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Global Targeting
After markets have been segmented, targeting aims at evaluating and comparing the indentified segments in order to select one or more as prospect(s) with the highest potential.
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Source: adapted from James H. Myers, Segmentation and Positioning for Strategic Marketing Decisions (American Marketing Association, Chicago, 1996), S. 187
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High-Tech Positioning
Positioning stragtegy for products which are purchased on concrete product features; buyers typically already possess or wish to acquire considerable technical information Suitable for
technical products, such as computers or chemicals, special-interest products, such as sporting goods, products that can be demonstrated easily.; eg polaroid cameras
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High-Touch Positioning
The emphasis lies more on the products image; specialised information appears of minor relevance Suitable for
products that solve a common problem; e.g., soft drinks global village products, such as cosmetics or fashion products that use universal themes; e.g. heroism in Levis ads (jeans)
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Summary
Before a company expands to foreign markets it must analyse the global environment. Global market segmentation aims at identifying similarities and differences of potential customers. Global targeting: The market segments are evaluated and compared and an appropriate targeting strategy is developed. To reach the targeted market segment(s) a positioning strategy must be chosen; in a global context high-tech or high-touch positioning are promising.
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