Geographic Segmentation Base Advantages Considers cultural differences of different regions Good for firms with limited geographic reach needing to select a specific target market Great when there is significant socio-economic diversity and significant consumer behavioral differences across regions Geographic Segmentation Base Limitations Assumes that consumers in a geographic area are similar, which is generally unlikely

Quick Study Notes for Market segmentation Definition of market segmentation The process of splitting a market into smaller groups with similar product needs or identifiable characteristics, for the purpose of selecting appropriate target markets. What are segmentation bases? A definable characteristic, identity or behavior of an individual consumer that can be utilized to classify consumers