What Are the Different Types of International Markets?

International market segmentation is developed on the basis of market segmentation. It is the application of market segmentation concept in international marketing. Compared with the domestic market, the international market has more buyers and a wider distribution range. As an enterprise, due to its own strength constraints, it is often more difficult to meet the needs of customers worldwide. To this end, the international market needs to be divided according to some criteria.

International market segmentation

International market segmentation is developed on the basis of market segmentation. It is the application of market segmentation concept in international marketing. Compared with the domestic market, the international market has more buyers and a wider distribution range. As an enterprise, due to its own strength constraints, it is often more difficult to meet the needs of customers worldwide. To this end, the international market needs to be divided according to some criteria.

Chinese name

International market segmentation

Foreign name

International market segmentation

Features

Subdivision

Object

international market

From

The so-called international market segmentation means that an enterprise divides the entire international market into several segments in accordance with certain segmentation standards.

Combinatorial segmentation

Subdivision

The combination method of dividing the world market has the following advantages:

The method considers three aspects and more comprehensively reflects the multinational environment;

Each dimension is closely related to marketing;

(3) Taking risk as a dimension alone is more in line with the actual situation, because although many countries have great potential and attractiveness, they also have different degrees of risk;

Each dimension is composed of several factors, so each aspect is a comprehensive measurement of multiple factors. For example whether

There are many countries in the world. Which market (or markets) is the most advantageous for enterprises to enter? This requires dividing the entire market into several sub-markets according to certain criteria (such as economy, culture, geography, etc.). The same marketing environment. Enterprises can choose a certain group or several countries as the target market. The international market segmentation with this meaning is called macro segmentation. Macro-segmentation is the basis of micro-segmentation, because companies first determine which country or countries to enter, and then they can further subdivide within a country within a country. The criteria for macro segmentation of the international market are geographic standards,

The macro segmentation process of the international market can be divided into the following steps:

(1) determine the method of dividing the world market (that is, determine the criteria for segmentation);

Macro-level segmentation of peer markets can use different criteria. For example, a company can

Lifestyle is closely influenced by culture, so segmenting international markets by culture is very useful for marketing decisions. One of the important influences of culture on international marketing decisions is that cultural factors (language, education, religion, aesthetics, values, social groups, etc.) can constitute the criteria for segmenting the international market. However, since there are many types of cultures in the world, it is necessary to classify the cultural types of all the different countries in the world. It is very difficult to develop a strategy for each culture type. An alternative approach is to reclassify the many different cultural types in the world according to the following cultural elements. These five cultural elements are:

material culture (technology, economy);

Social institutions (social institutions, education,

After a company enters a foreign market, because the customer needs in that country are also very different, it is impossible for the company to meet the needs of all customers in the country, and it can only be divided into several submarkets to meet the needs of one or more submarkets The international market segmentation in this sense is called micro segmentation. The fine segmentation is similar to the domestic market segmentation, that is, when a company decides to enter an overseas market, it will find that the customer demand in the local market is still different, and it needs to be further subdivided into several markets in order to choose one or several submarkets as Targeted market. This subdivision standard within a country is the domestic market segmentation standard. For example, the consumer product market has four major standards: geographic environment, population status, consumer psychology, and purchase status. The industrial product market has geographical environment, user status, demand characteristics, and Four criteria for buying behavior.

The micro-segmentation method of the international market is the same as the micro-segmentation method in the domestic market, and the criteria for subsegmentation are basically the same.

For the highly competitive international market, it is one-sided to think that as long as the international market segmentation can be achieved, marketing success can be achieved. Because although international market segmentation is an effective means of identifying and discovering opportunities, not all international market segmentation is effective. Excessive segmentation may affect the sales of the company; improper segmentation may also cause marketing failure. Therefore:-Effective inter-market segmentation must meet the following conditions:

That is, companies can effectively attract and serve inches: the feasibility of submarkets. For example, Jiaju Computer Co., Ltd. divides customers into several sub-markets according to the different use and service requirements of computers by customers in a certain country, but the company has limited resources and lacks the necessary technical and marketing capabilities. Marketing strategy, so the company s market segmentation is meaningless.