1. Market Targeting
The act of developing measures of segment and
selecting one or more of the market segments to enter. -
Kotler
2. Evaluating Market Segments
Current segment size and growth potential.
Segment attractiveness.
Company objectives and resources.
3. Selecting Marketing Strategy
Undifferentiated marketing- aim products at most
sections of the market.
Differentiated marketing- different products are
targeted to different groups people.
Concentrated marketing- focuses on certain section
of a market.
Micro Marketing.
4. Undifferentiated Marketing
Also called mass marketing.
Target the whole market with one offer (product).
Design marketing techniques that appeal to the
largest number of buyers like using the media
coverage.
Not made especially for one consumer group or
segment.
6. Differentiated Marketing
Also called segmented marketing.
A firm decides to target several market segments and
designs separate offers for each.
Develop several brands to meet the need of each
consumer segments.
10. Micro Marketing
The practice of tailoring products and marketing
programmes to suit the tastes of specific, individuals and
locations.
Example:
Local marketing- Marketers tailor brands and promotions to
needs and wants of local customer groups- cities,
neighborhood and specific stores. Grocers, restaurants.
Individual marketing- Tailoring products and marketing
programmes to the needs and preferences of individual
customers. Marketing message is crafted more personally to a
buyer. Ex: Kerepek