What characterizes intermarket (or cross-market) segmentation?

Intermarket or cross-market segmentation is characterized by grouping consumers who have similar needs and preferences, regardless of their geographic location or the specific country they belong to. This approach allows marketers to identify commonalities among consumers from different markets, enabling them to create marketing strategies that cater to these shared needs effectively.

By focusing on consumers' behaviors and preferences rather than solely on geographic distinctions, businesses can develop products and marketing campaigns that resonate across multiple markets. This strategy capitalizes on the idea that cultural, economic, and social differences may be less significant than the underlying consumer needs that transcend borders.

The other options do not reflect the essence of intermarket segmentation. Focusing on local market needs would narrow the scope and undermine the goal of finding commonalities across markets. Ignoring demographic differences does not align with intermarket segmentation, as understanding these differences can enhance market analysis, but the primary focus remains on the similarities in consumer needs. Targeting one specific market segment contradicts the nature of cross-market segmentation, which aims to span multiple segments across various markets.