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MKT 4550: International Marketing: Market Segments and Demand

Market Segments

Working definition: Market segments are specific parts of a larger industry or product class. For example, foreign and domestic brews are different segments of the beer market. Segments of the eat-in restaurant market could be defined by type of cuisine (Italian versus Mexican) or by atmosphere and pricing (El Zarape versus Quiznos).  

Both GMID and Mintel as well as the library-funded sites that cover newspapers and journals have information about foreign consumers and markets. There tends to be more in-depth coverage of developed countries than emerging economies. But if it's a "hot" market, you'll find information. Click here to go to the list of Business databases our library funds.

   Passport GMID(Global Market Information Database)

  • Do a simple text search for a consumer product like wine and country like Brazil. You'll usually get  both reports and statistics.  

   (US and International data):

Offers market research reports , company reports, and news items.

  •  Each market research report combines data & analysis of the competitive landscape, market-share analysis and consumer profiles, including in some cases examples of video or print commercials. Complex demographic issues are broken into easy-to-understand sections, explaining consumer behavior and documenting the competitive structure of the market.
  •    Click here for a screenshot of access through Mintel to countries covered in the Asia Pacific Retail Handbook . Hint, search for the handbook content like this:  You'll see population projections by region, a list of major retailers, and more.
  • If retailing in Europe, you could click here for a screen shot of a report on the 19 largest home shopping markets in Europe. Note the highlighted countries.
  • To find a report for your overseas country, enter your country name into the search box.Then choose the most recent and the most specific report pertinent to your product or market segment. Many individual product reports issued for the following:  UK, France, Germany, Italy, Spain

Demand

Forecasting demand is essentially the process of 1) identifying historical consumption statistics and trends for your product class or one close to it (in the early days, if you couldn't find all-electric cars, then you might have extrapolated from facts and data about hybrids) and then 2) factoring in several more kinds of information:

  • How many potential consumers are in your target market (age, sex, family status, geographic location, etc.)?
  • How of those might be both interested in the benefits of your product and in possession of sufficient disposable income to purchase it?
  • How many of them are spenders rather than savers in a down economy? A recovering or prosperous economy? 

It pays to think too about the competitive environment and to qualify your forecast with comments such as the following:

  • Based on your research, how far would you think the established, strong competitors could penetrate into your target market? 
  • Is it a mature, tapped out (saturated) market or is there still opportunity for a company entering this foreign market?

   Passport GMID (Global Market Information Database)

Select a Lifestyle Report if there is one for your country. This is a treasure trove of demographic and consumption information.  If you see a good Market Research Report, be sure to click on the right side links as shown here to get reports on local competitors.

 

  Lexis-Nexis Academic : Contains articles, as well as company information &  legal information.

Power Search Mode:   Click on the Power Search link (left side of landing page). Enter product term (battery or batteries) and country name. Next select Industry News Publications or Company Information from drop down menu on Sources search box.

 

   (US and International data): If there is a report about your market segment and/or specific target market, check out the charts and tables (click on the View Tables link as in this screenshot) to glean what you can about how big the demand has been over time and see predictions about how much growth there should be. Here's a table showing trends for ethnic dine-in restaurants and ethnic take-out food in the U.K.