4 POWERFUL STRATEGIES FOR SEGMENTING AND TARGETING
Marketers have defined five basic strategies for segmenting and targeting market identification: undifferentiated marketing or mass marketing, differentiated marketing, concentrated marketing (niche marketing), and micro marketing (hyper-segmentation). Different strategies for segmenting and targeting Mass marketing (undifferentiated marketing) Undifferentiated marketing/mass marketing is a method of reaching out to as many people as possible in order to […]
MARKET POSITIONING
Market positioning, as opposed to brand awareness, refers to the place that a brand occupies in the minds of customers and how it differs from competitors’ products. Companies may highlight their brand’s unique characteristics (what is it, what does it do, how does it do it, etc.) to market products or brands; or they may […]
TARGET MARKET (MARKET TARGETING)
A target market is a segment of customers in a company’s serviceable market toward whom the company devotes marketing efforts and financial resources. A target market is a subset of the overall market for a product or service. The firm would often customize the marketing mix (4 Ps) with the needs and expectations of the […]