The procedure of development of International market segmentation strategy

Abstract

Introduction. Increase of intensity of international economic activity under the process of internationalization of commodity markets lead to the necessity of search of attractive international markets and segments.

Aim of the article is the development of procedure of international market segmentation strategy and determination of peculiarities of international market segmentation in comparison with segmentation of domestic markets, considering the necessity of evaluation of factors of choice of attractive markets, considering the influence of cultural environment on entrepreneurial activity.

Method (Methodology). Application of methods of scientific generalization, analysis and synthesis gave an opportunity to distinguish elements, that characterize segmentation of international markets; to systemize the factors of international market environment, that influence international market segmentation process, define customers’ characteristics, that influence their purchasing decisions; to distinguish stages of international market segmentation; to describe features and marketing tasks of each stage.

Results. Segmentation of international markets has to be viewed as the systematized process of division of international markets on the groups of countries and groups of individual customers on the basis of their cultural values and motivations concerning their decision making process, that gives an opportunity to satisfy their specific needs and strengthen international competitive positions. The factors that influence international segmentation process are macrofactors: geographic, structural-demographic, legal, economic, scientific, socio-cultural; and microfactors: common market factors (market demand, competitive factors, factors of quality characteristics of the product) and customer-based factors (psychological, behavioral, individual characteristics of customers). The stages of the procedure of developing of international segmentation strategy are: market attractiveness evaluation; competitive analysis; demand evaluation; cultural environment analysis; macrosegmentation of markets; microsegmentation of markets; implementation of strategy and control. The proposed strategy of international segmentation strategy requires forming of the detailed marketing plan to a certain market segment and constant monitoring of its realization in accordance with changes in market environment and motivations of customers.