StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

International Market Segmentation - Assignment Example

Cite this document
Summary
In the paper “International Market Segmentation” the author looks at luxury products, especially high-end by-order designs, which have usually enjoyed a distant and lofty place on wealth and power oracle. Change is in, however. This is especially true for traditional high-end markets…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.8% of users find it useful
International Market Segmentation
Read Text Preview

Extract of sample "International Market Segmentation"

Download file to see previous pages

Handbags - a long-standing feminine companion, a stamped LV projected for all eyes to see - have given way to shoes. In response to the current crisis, major brands are working out marketing strategies stressing less on "new" and more on loyalty to existent classic offerings. Wall Street Journal Magazine qualifies the current economic crisis as "Fact": Evidence suggests that after a long shopping hiatus last winter and spring, consumers have been tiptoeing back into stores to buy shoes, handbags and sunglasses, selectively [emphasis added]. (Bannon) "Selectively" is, in fact, telling.

Indulgent consumers, losing huge financial assets, are psychologically speaking no longer interested in luxury per se but to keep up an image damaged hard in elite circles. In response, industry giants are adjusting to perceived shifts. Thus, a Prada bootie priced at $800+ during shopping splurge heydays now costs $495. Yet, bags are a standalone symbol for femininity - hence industry's, led by Louis Vuitton's, marketing strategy to enhance the brand image of classic models. Saks Fifth Avenue and Chlo are following suit.

Interestingly, an industry traditionally geared up to high-end, well-off, older consumers are currently turning to 18-to-25-year-olds stamped -by luxury industry - as "bunkie". Coach's Poppy - featuring sequins, jewels, bright colors, logos, and metallics - is a clear example. Notwithstanding Coach's turn to, well, "bunkies" Poppy's features still retain an industry's hold [Insert Your Last Name] 2on luxury values. Thus, in a mix of new market segmentation and pricing strategies, accessories industry eyes unlikely (untapped) markets during business-as-usual days.

Yet, some big brands (e.g. Bottega Veneta) still refuse, at all costs, to compromise on price and stress more on quality and value. Consistently, Italian manufacturers show reluctance to offshore - an indication of still entrenched Italian all-in-the-family business culture. Major retail stores in major markets such as the U.S. have, however, responded more briskly catering to more diverse global consumer segments. Indeed, one great opportunity current economic crisis offers to accessories industry leaders is including broader global market segments formerly inadequately served.

Historically, market segments for the accessories industry have taken as central to global marketing strategy North America, Western Europe, Australia, and Russia. As part of the global marketing strategy, global brands such as mentioned above have enjoyed constant featuring in major fashion weeks in Paris, London, Milan, and New York. Comparatively, little attention has been directed to emerging fashion weeks in the Middle East (e.g. Dubai Fashion Week) and Indian Sub-Continent. In the current global economic situation rethinking global marketing strategies becomes a mandate not only for expansion and growth but even for survival as global tastes.

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(International Market Segmentation Assignment Example | Topics and Well Written Essays - 750 words, n.d.)
International Market Segmentation Assignment Example | Topics and Well Written Essays - 750 words. Retrieved from https://studentshare.org/marketing/1525550-mkt-assignment-02
(International Market Segmentation Assignment Example | Topics and Well Written Essays - 750 Words)
International Market Segmentation Assignment Example | Topics and Well Written Essays - 750 Words. https://studentshare.org/marketing/1525550-mkt-assignment-02.
“International Market Segmentation Assignment Example | Topics and Well Written Essays - 750 Words”. https://studentshare.org/marketing/1525550-mkt-assignment-02.
  • Cited: 0 times

CHECK THESE SAMPLES OF International Market Segmentation

Physical Global Marketing Environment

This topic teaches us the merits and demerits of globalizing the business along with the bright side and dark side of advertisement in the international market.... It found difficult to advertise the product in the global market because it needs to understand and analyze the environments of different countries, but this topic by lecturer helps us at a great extent in understanding global marketing and advertising.... Consumers are now getting aware with the changing trends so marketer needs to be very active in understanding the changing trends of the market and importantly the changing taste and preferences of consumers....
4 Pages (1000 words) Assignment

Marketing Segmentation

This process of grouping buyers in terms of several common determinants is known as market segmentation (Wind and Douglas, 1972).... market segmentation It is believed by many scholars that market segmentation is an alternative of product differentiation.... In today's world, market segmentation plays a vital role for formulating all marketing strategies adopted by a firm.... This paper will implicitly explain the concept of market segmentation based on demographics (McDonald, 2012)....
3 Pages (750 words) Essay

Millennium Pest Control Service

The main aim of market research is to carry out an investigation of the market in order to find out what others who are in business are offering in your industry.... For this case, marketing research will be crucial in order to know what businesses in pest control services are offering to the market.... By carrying out market research, Millennium Pest Control Services will be in a position of understanding the behaviours, preferences and whims of wheat farmers in the market....
5 Pages (1250 words) Research Paper

Advantages and Disadvantages to Kraft Foods

In addition, the company will need to spend on advertising and promotion strategies in order to introduce the new versions into the market.... This paper tells that Kraft Foods will benefit from producing lower calorie versions of the existing chocolate bars.... The move will exhibit the company's commitment to addressing issues related to obesity by promoting healthy eating habits....
4 Pages (1000 words) Case Study

Market Segmentation Is Essential to Achieve the Optimum Marketing Mix

From the paper "market segmentation Is Essential to Achieve the Optimum Marketing Mix" it is clear that segmentation differs across industries, across countries and is again based on other factors also.... market segmentation is one of the most important essentials in marketing today to maximize benefits.... market segmentation is one of the most fundamental concepts and has been considered a powerful strategic management tool that assists in the decision-making process....
8 Pages (2000 words) Coursework

Will Globalization Lead to a Global Culture

he skincare giant NIVEA attempted to do transnational segmentation for its marketing strategy but they found significant differences in demographic characteristics, brand assessments, and behavioral characteristics (Bastian, 2006).... hellip; The major drivers of globalization according to Singer (2004) include social-demographic (regional, cultural), technological, which includes telecommunications, internet, and transportation, economic factors like foreign direct investment, profit motives, and market share....
3 Pages (750 words) Essay

Marketing: National Alcohol Campaign

The "Marketing: National Alcohol Campaign" paper discusses the rationale for using segmentation as a basis for the National Alcohol Campaign, identifies the basis the campaign could have been segmented, and segmentation strategy was used for this campaign and was it effective.... nbsp;  For non-profit organizations that are involved in raising funds or providing service and remedial treatment for social ills, segmentation helps them to be more effective (Beane, 1987)....
6 Pages (1500 words) Assignment

McDonald Going to Russia

nbsp; market segmentation, on the other hand, refers to the act of dividing the market into various groups, also known as segments, in order to provide the marketers with an easy way of defining the particular requirements of the various market segments so that they can be easy to provide them with the right products, at the right time, in the right quantities and price using the most effective marketing strategies.... In order to carry out market segmentation, there are key tasks that need to be considered and include tasks like analyzing the demands of consumers, targeting the market, and developing the marketing strategy (Udel, 2014)....
6 Pages (1500 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us