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Issue:

Business

 

Written by:

Kathleen P

 

Date added:

March 19, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

12 / 3202

 

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6313 times

 

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However, it is not a wise decision to target the world market as a whole since the consumers may differ in their wants, resources, locations, buying attitudes, and buying practices. Through market segmentation, companies divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively with products and services that meet their unique needs...
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Seabolt (2006), on the other hand, defined cross-border segmentation, which segments customers on consumer preferences independent of geography. The above verifications indicate that marketers are advised to target the customers that share the relatively homogenous characteristics and geographical borders are no longer relevant...
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