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Approaches of Market Targeting

The document discusses four approaches to market targeting: 1) Undifferentiated marketing targets all customers with one product and single marketing mix. Examples include toothpaste and furniture. 2) Differentiated marketing produces multiple products with different marketing mixes designed for smaller segments. Airlines offer business and economy classes. 3) Concentrated/niche marketing focuses on a subset of the market like a specific product type, price range or demographics. Cartoon Network is an example. 4) Micro marketing is the narrowest approach targeting individual potential customers personally, suitable for small businesses. Uber is provided as an example.

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317 views6 pages

Approaches of Market Targeting

The document discusses four approaches to market targeting: 1) Undifferentiated marketing targets all customers with one product and single marketing mix. Examples include toothpaste and furniture. 2) Differentiated marketing produces multiple products with different marketing mixes designed for smaller segments. Airlines offer business and economy classes. 3) Concentrated/niche marketing focuses on a subset of the market like a specific product type, price range or demographics. Cartoon Network is an example. 4) Micro marketing is the narrowest approach targeting individual potential customers personally, suitable for small businesses. Uber is provided as an example.

Uploaded by

anishjohna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd

APPROACHES OF MARKET

TARGETING
UNDIFFERENTIATED MARKETING

 Undifferentiated marketing refers to an approach when a firm produces only one


product or product line and targets all of its customers with a single marketing
mix. 
 this marketing approach attempts to sell through persuading a wide audience.
 Examples of mass marketing products are toothpastes, which are not made
especially for one consumer group or segment and are sold in huge quantities.
Other examples are furniture, artwork, automobiles, residential communities, cola
drinks and personal computers.
DIFFERENTIATED MARKETING
The differentiated marketing refers to the approach of the firms, which produce numerous
products with different marketing mixes. These products are designed to satisfy the smaller
segments. In this approach, instead of marketing one product with a single marketing program the
firm approaches the different consumer groups with products customized for each group.

EXAMPLES

AIRLINE COMPANIES OFFERING


BUSINESS CLASS,ECONOMY CLASS
CONCENTRATED MARKETING

 The popular term for concentrated marketing is niche marketing. Another term for
the same is “Focused Market”. A niche market is a subset of the market on which
a specific product is focusing. Each niche market essentially defines specific
product features such as product design, price range, production quality and the
demographics that is intended to impact. 
 This approach is most suitable to smaller firms, which have lesser resources.
 EXAMPLE:CARTOON NETWORK CHANNEL
MICRO MARKETING

 This is the narrowest approach of targeting. It is most effective technique for


small business users to sustain, build and grow their own brand. It targets the
potential customer at the very basic and personal level.

 EXAMPLE: UBER

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