Which aspect of international marketing is analyzed in the first phase of the international planning process?

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11-08-2022
Business

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Which aspect of international marketing is analyzed in the first phase of the international planning process?

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smecloudbird18 smecloudbird18 · Answer 1 · 2022-08-21T13:27:21+02:00

The first phase of the international planning process is to adapt the marketing mix to target markets. A target market is a particular demographic that a company offers its product or services to and who share certain traits. Companies employ target markets to fully comprehend their potential customers and develop marketing strategies that support them in achieving their corporate and marketing goals.

A target market is a population that has been chosen because they are the most likely to use a product given their shared attributes, such as age, planning process, income, and lifestyle. A target market is a collection of customers who have certain demographic marketing characteristics.

To learn more about planning process, click here.

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