Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Targeting strategies: having segmented the market, the firm now has to choose its marketing strategies. There are three strategies to choose from:
1. Standardization: in this strategy, the firm offers the same product to the different market segments. It uses the same communication pricing and distribution strategies. The classical example is of soft drink firms like coke and Pepsi, who retain the same flavour, advertising, packaging etc. across segments in the different geographical areas. The obvious advantage is the economics of scale which a firm gets in mass production and the marketing. Differentiation: this is just the opposite of the above mentioned strategy. Here the firm differentiates its products to suit the different segments needs and expansions. Typically, one has the example of an airline that differentiates its products in the three classes - the first class, business class and economy class. Each of these classes is targeted at a specific segment whose needs are different from the other.
2. Focus: this is a combination of standardization and the differentiation. Here the core strategy remains the same but differentiation is made to take into the account specific customer group requirements. For the example, the Maruti 800 to 1000 has some basis features and offers specific benefits to its buyers. However, a buyer who is looking for more features like safety belts, air conditioning, power steering and music systems can get the same at an additional price. In this way Maruti is able to focus its entire strategy on both economy and premium segments. This strategy helps the firm enjoy the economics of sales as well as higher market penetration, and consequently a higher market share. Therefore, the marketer has to choose the appropriate strategy in order to achieve higher market penetration in each of his market segments.
Write short notes on pull sales promotion strategy. A pullstrategy tries to get consumers to “ pull ” the product through the manufacturer from the marketing channel. The compa
customer mind is a black box dicuss
Meaning or definition : the term advertising is derived from the original Latin word "advertere" which means "to turn" the attention. Every price of advertising turns on the attent
U-Build-It Hardware Company is a chain of five stores selling hardware products in a Midwestern State. It offers a full range of hardware and gardening products, ranging from hand
what is market offers
What is Line Filling in Product Line? Line Filling: A product line can also be length though adding more items into present product range there are a few reasons for li
#question.Tata Motors recently introduced the nano,the world''''s least expensive car for the indian market.Can Tata succeed in targeting both the very low end of the auto market a
Disadvantages of the direct marketing: May be seen as competing with existing intermedaies: may upset marketing intermediaries as sales through the direct marketing may be ta
Influence of environment: 1. Opportunity: an event in the environment that may be favourable to a company may be suitably exploited by it for the overall benefit of the
Question 1: (i) If a local firm wishes to grow internationally, describe the alternative strategies available? (ii) What are the major advantages and disadvantages of each
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd