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Segmentation In International Marketing Essay

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Exporting is a strategy in which an organisation, without any marketing or production organisation overseas, exports a product from its home base. Often, the exported product is fundamentally the same as the one marketed in the home market. The main advantage of an exporting strategy is the ease in implementing the strategy. Risks are minimal because the organisation simply exports its excess production capacity when it receives orders from abroad. There are certain rules of successful exporting. For the success of export and import business, an organisation should follow these rules. Selection of Market: Identification of the market is very crucial. Find the demand and supply of a particular good in the target market. Study the consumption …show more content…

As the segments are fairly homogeneous in their requirements and attitudes, they may respond in a similar manner to a given marketing strategy. They are likely to have similar marketing mix comprised of a given product or service, at a given price, promoted and distributed in a certain way. Markets can be divided based on a number of general criteria, such as public versus private sector. Small market segments can be niche markets or specialty markets. The market segment broadly falls into either consumer or industrial markets. Having similar objectives and it may overlap with consumer markets in many ways. However, the process of industrial market segmentation is quite different. The process of segmentation is different from targeting (choosing which segments to address) and positioning (designing an appropriate marketing mix for each segment). The organisation should identify groups of like-minded and prospective customers; prioritise the groups based on the requirements and understand their behaviour. Based on the observation, the organisation should respond with appropriate marketing strategies in order to cater to the taste and preferences of the segment leading to marketing

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