Global Segmentation, Positioning, and Marketing Strategies” Please respond to the following:
- Companies utilize market segmentation to meet the needs of various consumer preferences. It is difficult, if not impossible, for one company to meet the needs or wants of every customer. Describe three (3) ways that the global marketing approach to segmentation differs from the domestic marketing approach to segmentation (possible classifications: geography, culture, language, political, wealth, population, age, macro, micro, etc.). Next, determine the main advantages or disadvantages that a regional marketing strategy has compared to a global marketing strategy.