What Is A Geographic Market Area?

What companies use geographic segmentation?

Geographic Segmentation Example McDonalds McDonalds divides its market into geographic segments, for example, different countries, states, regions and cities.

McDonalds sells burgers and target local markets and with customized menus..

What is a geographic variable?

Geographical variables are defined as variables that provide information about the characteristics of a place, instead of just the location of that place. One example would be a rural-urban identifier, which may have a number of classes, from the most urban metropolitan centres to the most remote rural areas.

What market area means?

A market area is a geographic zone containing the people who are likely to purchase a firm’s goods or services.

What is a geographic target market?

Geographic segmentation is a common strategy when you serve customers in a particular area, or when your broad target audience has different preferences based on where they are located. It involves grouping potential customers by country, state, region, city or even neighborhood.

What are the 7 market segmentation characteristics?

Market Segmentation: 7 Bases for Market Segmentation | Marketing ManagementGeographic Segmentation: … Demographic Segmentation: … Psychographic Segmentation: … Behavioristic Segmentation: … Volume Segmentation: … Product-space Segmentation: … Benefit Segmentation:

What is a geographic location example?

Geographic location refers to a position on the Earth. … These two coordinates can be used to give specific locations independent of an outside reference point. Relative location, on the other hand, defines a location in terms of another. For example, Lille is north of Paris.

What is the definition of geographic?

1 : of or relating to geography. 2 : belonging to or characteristic of a particular region the geographic features of Ohio.

What is market segmentation and why is it important?

Segmentation helps marketers to be more efficient in terms of time, money and other resources. Market segmentation allows companies to learn about their customers. They gain a better understanding of customer’s needs and wants and therefore can tailor campaigns to customer segments most likely to purchase products.

What are the benefits of market segmentation?

Market segmentation allows you to target your content to the right people in the right way, rather than targeting your entire audience with a generic message. This helps you increase the chances of people engaging with your ad or content, resulting in more efficient campaigns and improved return on investment (ROI).

What are examples of geographics?

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 the 4 types of market segmentation?

Types of Market SegmentationGeographic Segmentation. While typically a subset of demographics, geographic segmentation is typically the easiest. … Demographic Segmentation. … Firmographic Segmentation. … Behavioural Segmentation. … Psychographic Segmentation.

What is primary market area?

Revised Primary Market Area Definition: The primary market area is the geographic area that a proposed or existing housing community serves. … The subject property’s target market can include households who live, work, or have ties to the market area.

What are the 5 market segments?

A business market may be segmented by large customers and small customers or by geographic area. The five basic forms of consumer market segmentation are demographic, geographic, psychographic, benefit, and volume.

What is market segmentation with example?

Market segments are known to respond somewhat predictably to a marketing strategy, plan, or promotion. … For example, common characteristics of a market segment include interests, lifestyle, age, gender, etc. Common examples of market segmentation include geographic, demographic, psychographic, and behavioral.

What are the 3 target market strategies?

The three activities of a successful targeting strategy that allows you to accomplish this are segmentation, targeting and positioning, typically referred to as STP.

What is a geographic area mean?

Noun. 1. geographic area – a demarcated area of the Earth. geographic region, geographical area, geographical region. territory, soil – the geographical area under the jurisdiction of a sovereign state; “American troops were stationed on Japanese soil”

What is another word for geographic area?

What is another word for geographical location?geographylocationsitelocusvenuelocalewhereaboutsbearingslocalityplacement156 more rows

What is another word for Geographic?

What is another word for geographic?earthlyenvironmentalgeographicalphysicalterrestrialtopographicalgeological