Assessment questions for Global Marketing Essay

Assessment questions for Global Marketing - Essay Example lection of segmentation criteria, collection of relevant information, profiling of geographical location of the consumers as per the segmentation criteria, evaluation of the appropriateness or the attractiveness of the segmentation and updating and reassigning the segment membership. Identification of the purpose of global market segmentation involves the assessment of different segmentation strategies. These segmentation strategies assist global organizations to analyze the major objectives of market segmentation. These objectives consists the identification of customer needs to offer more suitable product for them, improvement of customer profitability by analyzing pricing process, identification of new target consumer groups, improvisation of customer retention and identification of growth opportunities to gather desired market share. The proper analysis of the marketing strategy will enable organization to adequately assess the market segmentation requirement. After identifying the major purposes, it is essential to analyse the suitable segmentation criteria. There are a number of based or methods which can be utilized to segment different global marketplace. The segmentation bases can be divided according to traditional process as well as the requirement of emerging market. The traditional segmentation bases include demographic, geographic, cultural, environmental, psychographic and behavioural criteria. On the other hand, the emerging segmentation bases focuses on response elasticises and product diffusion pattern. The choice of the bases of segmentation is one of the most important factors for global market segmentation. Global organisation need to focus on the selection of the right base for their market segmentation procedure in terms of their products/ services and customers profile. The segmentation bases for global market differs due to the differences in consumers responses and product features. The selection of wrong bases of th e segmentation can