ABSTRACT
Segmentation, targeting, and positioning (STP) are some of the most fundamental concepts in marketing strategy and practice today. In global markets, the STP process is more complex because it includes both the selection of target countries (macro-segmentation, prioritization, and targeting of countries with the highest strategic value) and the identification of target consumers within the countries (micro-segmentation and targeting of micro-segments). The continuous fragmentation of both audiences and marketing channels in global markets creates a number of additional challenges for marketers. In global markets, where segments, especially in developing countries, may shift with each social, political, or economic change, the task of identifying the right segments is even harder. Globalization and global markets have had a polarizing effect on segmentation. Through market segmentation, the similarities and differences of potential buying customers can be identified and grouped. Micro-segmentation is carried out after the macro-segmentation and the identification of countries with the highest opportunities (prioritization).
