Contents
What is a geographic market?
Legal Definition of geographic market : the geographic area in which there is effective competition in the sale of products or services —used in antitrust matters.
What does geographic target market mean?
A geographic target market relies on the physical location of a consumer’s residence, place of business or site of visiting to determine whether the consumer falls within the business’s targeted group.
What are examples of geographic in the target market?
An example of geographic segmentation may be the luxury car company choosing to target customers who live in warm climates where vehicles don’t need to be equipped for snowy weather. The marketing platform might focus their marketing efforts around urban, city centers where their target customer is likely to work.
What are geographical marketing factors?
People in different parts of the world, display different characteristics. A marketing strategy created by dividing the target market into segments on the basis of factors such as economics, food habits, clothing habits, languages, traditions and many other traits is known as geographic segmentation.
What is an example of geographic?
The definition of geography is the study of the Earth. An example of geography is the study of where the states are located. An example of geography is the climate and natural resources of the land.
What is the word Geographic?
1 : of or relating to geography. 2 : belonging to or characteristic of a particular region the geographic features of Ohio.
Which is an example of geographic target marketing?
To use its marketing budget more effectively, a business can employ a targeted approach based on market research and segmentation. Geographic target marketing is one such approach that can help a business reach customers and promote itself more efficiently and at a reduced cost.
How is Geographic segmentation used to segment a market?
Geographic segmentation divides a target market by location so marketers can better serve customers in a particular area. This type of market segmentation is based on the geographic units themselves (countries, states, cities, etc.), but also on various geographic factors, such as climate,…
What is the definition of a target market?
A target market is a group of potential customers who share certain attributes and receive special attention from a business’s marketing efforts.
How does geographic location affect your marketing strategy?
Since people in different locations are bound to display different characteristics and have a variety of wants and needs, geographic location is an integral factor in determining market positioning and product sales. This is something you should take into consideration when creating your marketing strategy.