Targeting
01May09
Targeting - identifying which market segments offer the best market-product fit.
4 Targeting Strategies:
- Undifferentiated (Mass marketing) – one product targeted at all segments.
- Concentrated (Niche Marketing) – one product targeted at one segment.
- Differentitated – Multiple products targeted at multiple segments
- Customized (1-to-1 Marketing) – customized product for each customer.
Criteria to use in choosing target segments:
- market size,
- expected growth,
- competitive position,
- cost of reaching the segment,
- compatibility with the organization’s objectives and resources.
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