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Jain (1989)Management > Global Marketing Management > Lectures > Independent Research > Jain > Target market
Target marketStandardisation in this case is situation-specific. Although many claim that industrialised countries have converging tastes (e.g. Ohmae, 1985, Fournis, 1962) argues that, owing to the affluence of these same countries, consumers are more educated and thus their tastes actually diverge. Does economic similarity mean that a standardised marketing program is beneficial? Developed countries (DC), have 8-15 times more purchasing power than LCDs. Televisions in households are recorded in over 75% of DCs, 25% in Newly Industrialised Countries (NIC), but less than 10% in LDC. In addition, more than one third of DC consumers have a decent education, compared to less than the 15% of NIC and less than that in LCD. Jain concludes that, due to the education, televisions, and buying power of the DC, they will have similar tastes to each other only, meaning standardisation may be feasible among DCs. The “Intermarket Segment Concept” by Hill and Still (1984), reports that more product adaptation is needed in rural areas of LCDs than in urban areas. This suggests that there is a certain degree of similar tastes between certain parts of LDCs.
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