Market Targeting Strategies
This type of strategy is characterized by mass marketing and focuses on common needs rather than what's different. Example: Kleenex
Undifferentiated
This positioning strategy involves the most quality/upscale product with more features, and the company will charge a higher price.
More for More
This type of differentiation is characterized by speedy, and positive customer interactions. The best example of this is Chick-Fil-A.
Service
This type of segmentation is characterized by nations, regions, states, counties, cities, or even neighborhoods.
Geographic
This requirement for effective segmentation means a market can be reached and served.
Accessible
This type of strategy is characterized by fully customizable options for the consumer and specialized products for certain areas. Example: Customizable Baseball Glove
Micromarketing/Local/Personal
This positioning strategy involves more features while the company will charge the same price as competitors/average price in the industry.
More for the Same
This type of differentiation is characterized by hiring/training the best workers and working with top end celebrities to endorse their brand.
People
This type of segmentation is characterized by lifestyles, social class, and personality characteristics.
Psychographic
This requirement for effective segmentation means a market can be measured by its size, purchasing power, etc.
Measurable
This type of strategy is characterized by limited company resources, knowledge of the market, and the production of more efficient/effective products. Example: Harry's
Concentrated/Niche
This positioning strategy involves offering less value and a much lower cost for consumers. Family Dollar and Dollar General could be examples of this.
Less for Much Less
This type of differentiation is characterized by symbols, characters, logo, etc. A great example of this is Disney with Mickey Mouse.
Image
This type of segmentation is characterized by consumer knowledge, attitudes, uses of a product, or responses to a product.
Behavioral
This requirement for effective segmentation means a market will be distinguishable and respond differently to different marketing mix elements and programs.
Differentiable
What do companies need to think about when choosing a market targeting strategy? Provide at least 2.
Company Resources, Product Variability, Product Life-cycle, Market Variability, Competitor's Marketing Strategies
This positioning strategy involves more benefits/value from their product/service compared to the average at a lower price compared to the average. This is typically done in the short-run.
More for Less
This type of differentiation is characterized by features, performance, style, and design. This differentiation creates features other companies can't.
Product
This type of segmentation is characterized by age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.
Demographic
This requirement for effective segmentation means programs will be designed to be effective in attracting and serving their target market.
Actionable
This type of strategy is characterized by higher sales/stronger position and is more expensive than undifferentiated marketing. Example: Marriott Hotels
Differentiated Marketing
This positioning strategy involves a company that provides the same value as competitors/the industry average at a lower price.
The Same for Less
This type of differentiation is characterized by a smooth-functioning relationship between the company/companies and the consumer. It has exceptional coverage, expertise, and performance. A great brand example is Amazon.
Channel
This type of segmentation is used to identify smaller, better-defined target groups.
Multiple Segmentation
This requirement for effective segmentation means a market will be large and profitable enough to serve.
Substantial