Podcast
Questions and Answers
What is the primary reason marketers segment consumers when planning their strategies?
What is the primary reason marketers segment consumers when planning their strategies?
All consumers across the globe have the same consumption preferences.
All consumers across the globe have the same consumption preferences.
False
What age group is commonly referred to as 'millennials'?
What age group is commonly referred to as 'millennials'?
14-29 years old
International marketing segmentation is the categorization of segments of potential customers with common characteristics, often based on ______.
International marketing segmentation is the categorization of segments of potential customers with common characteristics, often based on ______.
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Match the following brands with their target segments:
Match the following brands with their target segments:
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Which trend is preferred by millennials according to the 2016 Youth Trends Report?
Which trend is preferred by millennials according to the 2016 Youth Trends Report?
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Engagement with influencers on social media is less valued by millennials than traditional advertising.
Engagement with influencers on social media is less valued by millennials than traditional advertising.
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Name one segmentation criterion used by marketers.
Name one segmentation criterion used by marketers.
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Study Notes
Consumer Segmentation
- Global consumer culture does not mean treating all 8 billion people as one market.
- Effective marketing strategies require knowing the specific customers.
- Offering a product unsuitable for a culture (e.g., pork in Saudi Arabia) is poor strategy.
- International market segmentation groups potential customers with similar traits.
Segmentation Characteristics
- Within a segment, consumers share consumption symbols with common meanings.
- One example is global youth culture (14-29 years old), often called Millennials.
- Their consumption patterns (music, food, sports, fashion) are replicated globally.
- Influencers on social media like Instagram, Snapchat, and YouTube have a strong impact.
- Brands like Rihanna, Lady Gaga, Sean John, iPhone, Samsung, anime/manga, Uniqlo, Zara, H&M, Nike, Netflix, Facebook and Instagram are popular among this demographic.
- They prefer instant products and services like click-and-collect.
- Urban and rural teens behave differently.
Segmentation Criteria
- Marketers use four criteria for segmenting the globe:
- Demographic (population size, structure, and distribution)
- Psychographic (consumer traits)
- Behavioral (product usage)
- Benefit sought (desired product values/benefits)
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Description
This quiz explores the dynamics of consumer segmentation and the necessity of tailoring marketing strategies to specific cultural groups. It highlights the impact of global youth culture and the factors that influence their consumption patterns across various platforms and brands. Test your understanding of these concepts and their application in international marketing.
