example can in.mylongdomainname.com target India market or can uk.mylongdomainname.com target uk market or can mylongdomainname.com/uk/ target uk market thanks
I think the best way is countrycode.domain.com as in example #1 because the PR will be easier to improve.
Targeting geographically is done with a few different methods, below is a list of them. 1. Using CC-TLDs (country-coded domain extensions) 2. Hosting Geograhically (Hosting in the country\region you want to rank in) 3. Local Language (Using the country\regional language for your content) 4. Geo-Targeting inside Google Webmasters Central 5. Building backlinks from that geographical area. Now, you don't need to do all of them, but the more the merrier.
I'd go with the simplest solution and start with a .com domain using Google Webmasters tool to target a region. Whatever you do don't start with a country specific domain extension, e.g. .co.uk, or you'll make it difficult to target other countries in the future.