Market Segmentation Strategy and Excellent Global Brand Positioning

Firms operating in industrial or business markets have employed self-organizing maps and supplier segmentation or have attempted to customize their offerings to target key trade partners. The concepts of market segmentation and brand positioning and the role of creativity in the segmentation process, as well as the factors global marketers consider when making product design decisions are examined. The paper highlighted some of the creative ways to segment markets, including the creativity to be applied in the selection of segmentation bases. The bases highlighted in the paper include, geographic segmentation, psychographic segmentation (or lifestyle segmentation) and behavioural segmentation. It identified reasons why an excellent global positioning is a major asset of a brand. Some of the reasons include the creation of a strong and consistent brand culture and the creation of a customer-focused value proposition. The paper also documented factors that global marketers should consider when making product design decisions, including whether to pursue a standardisation or adaptation strategy as well as whether or not to pay attention to culture. Lastly, it identifies several global brands, analysing and further commenting on some of the reasons for the global success of the three chosen top valued brands