What is international market segmentation? Discuss the importance of market, segmentation in marketing decisions and explain the bases of market segmentation.

Segmentation of the international market derives several main benefits: allowing the company to generalise their marketing research conclusions, entry strategy and marketing mix across a few segments instead of every market, helping to allocate scarce resources and determining the company’s positioning strategy. This is in contrast to domestic segmentation, which also determines positioning and allows the company to address the market in sections, but is more specific as it groups together people with similar behaviours instead of countries.

In order to gain the benefits listed above, segments need to be as homogenous as possible internally but discrete from each other. Segmentation will usually occur according to behaviour in relation to the marketing mix and the market conditions. There are six key requirements for segments. They must be:

Identifiable – they can be defined and measured

Sizeable – large enough to be worth targeting

Accessible – can be separated from other groups

Responsive – will respond differently to different marketing mixes

Stable – will not change membership

Actionable – divided according to company values

International marketing research is a costly exercise, and companies with a global presence find it difficult and expensive to conduct proper research in every market. Hence if they can identify several markets which will have behaviour which is substantially similar _______ __________ __________ _________ ____ ____.
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