The Requirements for Effective Market Segmentation in a Domestic Marketing

question 74

Essay

The requirements for effective market segmentation in a domestic marketing context also apply in international market segmentation.List and briefly describe the properties that these segments should ideally possess.

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Definitions:

Minority Group

A category of people who experience relative disadvantage as compared to members of a dominant social group.

U.S. Census Bureau

A principal agency of the U.S. Federal Statistical System responsible for producing data about the American people and economy through censuses and surveys.

New Venture Creation

The process of designing, launching, and running a new business or enterprise.

Economic Mobility

The ability of an individual, family, or some other group to improve (or lower) their economic status—usually measured in income.