Mass Marketing Mass marketing, also called undifferentiated marketing, involves marketing to the entire market the same way. Mass marketing effectively ignores segmentation and instead generates a single offer and marketing mix for everyone. The market is treated as a homogeneous aggregate. Mass marketing aims to reach the largest audience possible, and exposure to the product is maximized. In theory, this would directly correlate with a larger number of sales or buy-in to the… Read More »Mass Marketing

Differentiated Marketing A differentiated marketing strategy is one in which the company decides to provide separate offerings to each different market segment that it targets. It is also called multisegment marketing. Each segment is targeted in a particular way, as the company provides unique benefits to different segments. The goal is to help the company increase sales and market share across each segment it targets. Proctor and Gamble, for example, segments some of… Read More »Differentiated Marketing

Niche Marketing Niche marketing (also called concentrated marketing) is a strategy that targets only one or a few very defined and specific segments of the consumer population. The goal is to achieve high penetration among the narrowly defined target segments. For example, the manufacturer of Rolex watches has chosen to concentrate on only the luxury segment of the watch market. An organization that adopts a niche strategy gains an advantage by focusing all efforts… Read More »Niche Marketing

Local marketing is a targeting strategy focused expressly on a small, clearly defined neighborhood or geographic area. Organizations using this technique strive to generate a strong local presence, and targets may include any person or organization within that small area. A weekly produce share from Suzie’s Farm, a CSA in California Groupon and Amazon Local are excellent examples of local marketing. Both online services partner with local businesses to promote timely offers and… Read More »Local marketing 

Targeting Strategies and the Marketing Mix LEARNING OBJECTIVES Explain how targeting influences each element of the marketing mix Using the Marketing Mix to Reach Target Segments Once target segments are identified, the marketing manager selects a targeting strategy that will be the best fit for reaching them. Targeted marketing enables the marketing and sales teams to customize their message to the targeted group(s) of consumers in a focused manner. The targeting strategy is where… Read More »Targeting Strategies and the Marketing Mix

Introduction to Targeting and the Marketing Mix What you’ll learn to do: explain how targeting influences each element of the marketing mix Segmentation helps you decide who your target customers are, while targeting helps you zero in on the best method for reaching them. Your targeting strategy helps you set priorities for making an impact on your target segments and on the market as a whole. As you’ll see in this section,… Read More »how targeting influences each element of the marketing mix

Case Study: eHarmony Targets Women LEARNING OBJECTIVES Explain the process of deciding which customer segments to target for marketing activities Segmentation Success: A Dating Web Site for Women When it was launched in 2000, eHarmony quickly made its mark as a new brand and new category in the online dating landscape: a dating site for the serious relationship seeker, particularly women. By focusing on women as its target segment, eHarmony made… Read More »Case Study: eHarmony Targets Women

Choosing a Segmentation Approach and Target Segments LEARNING OBJECTIVES Explain the process of selecting an appropriate segmentation approach Explain the process of deciding which customer segments to target for marketing activities Conducting a Market Segmentation As you have seen, there are many different ways a company can segment its market, and the optimal method varies from one product to another. Good market segmentation starts by identifying the total market for the product: all the… Read More »Choosing a Segmentation Approach and Target Segments

Introduction to Segmentation Decisions What you’ll learn to do: explain the process of selecting an appropriate segmentation approach and deciding which customer segments to target for marketing activities Now that you’ve learned about common segmentation approaches, how do you know when to apply them? When is geographic segmentation a better fit than demographic segmentation? When should you consider using both at the same time? It comes down to your marketing goals:… Read More »process of selecting an appropriate segmentation approach

Segmentation Criteria and Approaches LEARNING OBJECTIVES Describe common segmentation approaches Common Approaches to Market Segmentation Segmentation starts by identifying all the potential buyers for your product: individuals with the need and the means to buy what you offer. In most cases, this represents a large universe of people or organizations that are similar in some ways but different in many other ways. Segmentation is a process that helps marketers narrow their focus on… Read More »Segmentation Criteria and Common Approaches to Market Segmentation