Marketing strategies target consumers based on knowledge about geographic demographics and preferences.
A geographic market in the United Kingdom might be divided between England, Scotland, Wales, Northern Ireland, and the Republic of Ireland.
Geographic markets separated by country are often subdivided by development level, size, or their membership in a particular region. Geographic segmentation by population density can include splitting areas into urban, suburban, or rural areas.
Elements that businesses consider when choosing the parameters for a geographic market are transport costs, geographic competition, and demand. A geographic market with high entry barriers, for example, might be an unprofitable investment despite other favorable factors.
I know that a lot of high end retail stores and grocery stores do market segmentation demographic studies to see if a given area could support their business model. I think that businesses that have a really defined market segmentation strategy do a lot better than those that have a more general market segmentation strategy.
I wanted to add that I once worked as a manager for a retail chain that was based in Northern California.
In fact we had a whole wall dedicated to fleece which is hard to believe when you live in Miami. When I worked with some of the higher ups at the retail store I was at I realized that the store used the concept of geographic markets to divide our provinces into specific areas. Understanding how geographic markets work makes traveling really interesting if you enjoy looking at various businesses from back home to see how they are changed to suit different areas.
A very useful tool to complete your SWOT assessment is the new book "The SWOT Analysis: Using your Strength to overcome Weaknesses, Using Opportunities to overcome Threats" by Lawrence Fine. Just scroll down under "Sales and Marketing templates" and you'll see the SWOT template as a free download. Click here to get the 7-Step Marketing Toolkit, which will help you easily develop an effective marketing plan for 2016! Download our Marketing Strategy eBook - an easy 7-step marketing strategy program to drive business results. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising.

Cogent Reports’ advisor segmentation model, Cogent Advisor Segments™, debuted in 2014 and continues to offer providers the ability to go beyond the traditional advisor channel and AUM demographics to target advisors based on their unique communication preferences.
When indexed to the average advisor, the 4 proprietary segments display distinct differences that enable providers to further hone their targeted outreach, and consequently maximize their brand consideration and revenue potential.
This year, the new Advisor Touchpoints online reporting tool offers monthly updates on how and where providers are interacting with advisors across 9 critical points of inbound and outbound contact, as well as a quarterly summary ranking firms on specific touchpoints and identifying best-in-class providers.
Take a tour of the Advisor and Investor Touchpoints portals to see all of the information they provide on a continuous basis. This entry was posted in Brand and Messaging, Financial Services, Segmentation and tagged advisor touchpoints, advisors, cogent advisor segments, communication strategies, targeted outreach by Meredith Lloyd Rice. About FreshMRFreshMR is powered by Market Strategies International, a market research consultancy which designs and implements intelligent research and delivers meaningful results that help you make business decisions with complete and total confidence. Geographical segmentation seeks to identify marketing strategies accounting for variations within geographical markets in regard to language, climate, and lifestyle. Marketing by population density often splits larger geographic regions or countries into smaller subunits.
Operating over a large geographical subset often means that companies need to alter their marketing mix for various regions. High transport costs can dissuade businesses from entering into distant geographic markets.
Many barriers to entry may exist, including predatory pricing and high advertising spending by incumbent firms, making it difficult for new industries to enter the market. It appears that the buyers did not consider market segmentation variables when they ordered their assortments for the South Florida stores. This really lowered the gross margin for the buyer and probably made it harder for her to meet her numbers. Each of these areas competed with one another for prizes in regards to sales and presales of certain items. What was most interesting to me was seeing how these areas seemed to lump populations together in order to create a sort of unity for their delivery. For example, when selecting a single preferred method, Insight Enthusiasts embrace a variety of communications, the less-tenured Data Vaulters welcome support and education from external wholesalers, Digital Devotees prefer tailored information from wholesaler calls and social media, and the more-tenured Selective Oracles prefer pulling in data from emails and websites when time permits. She manages the firm’s syndicated research products focused on the financial advisor market and is the lead author of the Advisor Brandscape® report.
Size segmentation can be based on population or financial capacity; this can include marketing to countries with a certain gross domestic product.

The smaller the subset, the more precise the marketing mix can become, but the smaller the market, the higher the cost for implementing individual marketing plans. These businesses can choose to alter a product based on market segmentation or to keep a generic product.
High competition and high entry barriers can also deter organizations from pursuing a particular geographic market. Very high or absolute barriers to entry can indicate a monopoly that, depending on the location, could be subject to international anti-trust scrutiny.
Each area had a different number of stores, but the population they served was roughly the same.
They would take as many orders as possible, as quickly as possible, then you would just grab your food when your number popped up.
She has more than 15 years of experience managing research initiatives in the wealth management industry and has explored a wide range of business issues on the client and supplier side. Three geographical units that distinguish geographic markets are regions, countries, and population density; each of these units can be split into subunits. Geographic markets based on country membership may refer to continents, countries with similar systems, or with similar languages.
Both options must take geographic differences, languages, and lifestyle preferences into account.
After filling out the questionnaire, the company wanted me to try the product and give them feedback on it. Prior to joining Market Strategies, Meredith was an associate VP at Chatham Partners where she oversaw a team of researchers and managed the overall design, analysis and interpretation of large-scale studies for institutional financial services clients. Meredith earned an MBA from Thunderbird School of Global Management and a bachelor’s degree from Colgate University. I was also involved in a focus group for a retailer that wanted to expand their product lines and enhance their customer service. She is a former collegiate rower who now gets her exercise chasing after her 2-year-old daughter and Clumber Spaniel.

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