MKT 510 Lecture Notes - Lecture 14: Renminbi, Russian Ruble, Backtracking
Document Summary
Chapter #14 managing brands over geographic boundaries and market segments. Regionalization: runs counter to globalization; make a brand more relevant and appeal to any one individual. The process of dividing an area into smaller segments called regions: becoming popular over mass marketing. Different battles are now being fought between brands in different regions of the country. Regionalization can affect marketing efficiency and costs may rise with regional marketing. May force local producers to become more competitive of blur a brand"s national identity. Any market segment may be a candidate for a specialized marketing and branding program. Differences in demographic dimensions or psychographic considerations can serve as the rationale for a separate branding and marketing program. Marketers are also considering how various ethnic, racial, or cultural groups may require different marketing programs. Various firms have created specialized marketing programs with different products, advertising, promotions, etc to better reach and persuade this market.
