bentley

International market segmentation is the dividing of market into segments, this allow marketers to effectively determine whether business can thrive in a particular area. Segmentation is based on four factor namely geographical, psychographic, demographic and lastly behavioral segmentation. Geographical segmentation refers to grouping markets geographically such as nations, states or cities. Psychographic segmentation is the dividing of buyers into groups based on lifestyle or social class/status. Demographic segmentation uses factors like age, gender, occupation and etc to separate markets into groups. Last but not least, behavioral segmentation, this kind of segmentation divides buyer into groups by their knowledge about particular goods, their usage towards the goods such as if they are regular user or one-time user and their responses towards the product. To efficiently segment a market, market segmentation is based on five criteria which are substantial, measurable, accessible, differentiable and actionable. Substantial meaning that is the importance, size and worth of the market considerable, will there be enough demand or needs from the market to sustain the business in the area. Measurable obviously giving us a catch that things or factor must be able to measure such as purchasing power, segmented size and characteristic. Accessible ensures that goods, product or services can access that particular area to be segmented, for example, if a company decided to advertise a certain product in the area but the area there has no stable internet connection, thus inaccessible. Differentiable ensures that segmented area must be differentiable, different product must react differently in different segments. Lastly, actionable, areas that are segmented by actionable must result in actions, such as customer must have buying behavior that results in any action. This poses a challenge to Bentley as the company experienced a sudden huge decrease of sales in 2008, mainly