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What is Concentration Approach for selecting target markets?
Concentration Approach:
As an organization directs its marketing efforts in the direction of a single market segment by a single marketing mix, this is using a concentration approach. This permits a company to focus all its marketing efforts onto a single segment. A main restriction of the concentration approach is that, when a company depends onto a single market segment for its entire sale and which segment’s demand for the product declines, sales and profits of the company will also decline.
Mass Marketing Mass marketing includes the mass production, distribution, and the promotion of one product for all buyers.
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"CONSUMER MIND IS A BLOCK BOX"-DISCUSS
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