Americans abroad have a lot to cope with. As if language barriers and cultural differences don't make your international travels difficult enough, there's also the fact that a lot of your favorite products look different in other countries, too. If you're on vacation in France, for example, and would like to get a pack of 'Sour Patch Kids', you have to look for 'Very Bad Kids' instead. And you won't find 'Rice Krispies' in New Zealand -- they're called 'Rice Bubbles' there. To help you make sense of these (little) nuances, here's a list of alternate versions of familiar products you've left in the United States.
Ideally, companies would only have to come up with a great product and a convincing marketing program and they would have a worldwide winner. But despite the obvious advantages they could gain, many fear that global marketing, as popularly defined, is too extreme to be practical. Mainly due to the fact that customers and competitive conditions differ across countries or because powerful local managers will not stand for centralized decision making.
Certain Food Items Must Show Their Excess Of Unhealthy Ingredients On The Packaging In Mexico
So they choose market segmentation. It's the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or in our case, locations.
Geographic segmentation is actually one of the most common and straightforward types of market segmentation.