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Two Major Classifications of Stages of Economic Development Helpful to Global

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two major classifications of stages of economic development helpful to global marketers are


Definitions:

Market-Based Groupings

Classification of customers or products based on market-related factors such as geographic location, customer type, or product usage, allowing for targeted marketing strategies.

Customer Segments

Groups of potential customers categorized based on similar needs, characteristics, or behaviors, targeted in marketing.

Functional Groupings

Functional groupings refer to the organization of business activities or employees within a company based on tasks, roles, or expertise to enhance efficiency.

Product Line

A range of related products offered by a business designed to appeal to a particular market segment.

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