IMKT400 - International Business Marketing: Segmentation, Targeting, and Positioning

These flashcards cover key concepts related to market segmentation, targeting, and positioning as outlined in the lecture notes for IMKT400.

Global Market Segmentation

The process of identifying specific segments of potential customers with similar attributes who are likely to exhibit similar responses to a company’s marketing mix.

Demographic Segmentation

Segmenting markets based on measurable characteristics of populations such as income, age distribution, gender, education, and occupation.

Psychographic Segmentation

Grouping people according to attitudes, values, and lifestyles to better understand consumer behavior.

Behavior Segmentation

Categorizing consumers based on their buying behavior, including usage rates and user status.

Benefit Segmentation

Focusing on the benefits consumers seek from a product, regardless of geography, often expressed as value = benefits/price.

Segment Simultaneity

The phenomenon where new segments appear in multiple national markets simultaneously, allowing marketers to target global consumer trends.

Global Elite

Affluent consumers who are well-traveled and typically buy prestigious products associated with exclusivity.

Market Potential Assessment

The process of evaluating the attractiveness of identified market segments by analyzing current size, competition, and feasibility.

80/20 Rule

A principle suggesting that 80% of a company’s profits are derived from 20% of its customers or products.

Cultural Diversity

The existence of various cultural groups within a population, often influenced by immigration.