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Cheaper 5: MARKETING SEGMETATION, MARKETING TARGETING AND POSITIONING -…

- - - - decides to target several market segments and designs separate offers for each.
    - - goes after a large share of one or a few segments or niches.
    - - decides to ignore market segment differences and go after the whole market with one offer.
    - - Local marketing
        
        Tailoring brands and promotions to the needs and wants of local customer
      - Individual marketing
        
        Tailoring products and marketing programs to the needs and preferences of individual customers - also called one-to-one marketing, customized marketing, and markets-of-one marketing.
  - - - => Therefore, the firm now has to evaluate the various segments and decide how many and which segments it can serve best.
- - - - Countries might be grouped by population income levels or by their overall level of economic development.
    - - Cultural factors can also be used, grouping markets according to common languages, religions, values and attitudes, customs, and behavioral patterns.
    - - Companies can segment by geographic location, grouping countries by region: Western, Europe, the Pacific Rim, the Middle East, or Africa
    - - Countries can also be segmented by political and legal factors such as the type and stability of government, receptivity to foreign firms, monetary regulations, and amount of bureaucracy.
  - - - Dividing the market into segments based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality.
    - - Dividing a market into different segments based on social class, lifestyle, or personality characteristics.
    - - Dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods.
    - - Dividing a market into segments based on consumer knowledge, attitudes, uses, or responses to a product.