What is Target Market and Target Marketing Strategies?

By -

Target Market


A set of buyers sharing common needs or characteristics that the company decides to serve





 

Target Marketing Strategies


Undifferentiated (mass) Marketing
Differentiated (segmented) marketing
Concentrated (niche) Marketing
Micromarketing (local or individual) Marketing

Undifferentiated (mass) Marketing

A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one after









Differentiated (segmented) Marketing

A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each






 
 Concentrated (niche) Marketing

A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches






Micromarketing

The practice of tailoring products and marketing programs to the needs and wants of specific individuals and local customer groups—includes local marketing and individual marketing







Popular posts from this blog

BUSINESS USE OF THE INTERNET

By -
BUSINESS USE OF THE INTERNET This should give you a good idea of how versatile the internet is as an information technology platform on which to base a variety of business strategies. You could group the ways that companies are using the internet for business into a few major application categories. 1. Interactive marketing Because of the internet, marketing a company and its products and services has become an interactive process. The internet and the web enable companies to create a dialog with customers through online discussion groups, bulletin board, electronic questionnaires, and mailing lists and E-mail exchanges. Thus customers can be interactively involved in the development marketing, sales and support of products and services, along with a company’s market researchers, product designers, marketing and sales staff, and support specialists. 2. E-Commerce The internet, the World Wide Web, and internet-based technologies such...
Read more

Call center technology

By -
Call center technology A very large collections call center in Lake land, Florida. Call center technology is subject to improvements and innovations. Some of these technologies include speech recognition and speech synthesis software to allow computers to handle first level of customer support, text mining and natural language processing to allow better customer handling, agent training by automatic mining of best practices from past interactions, support automation and many other technologies to improve agent productivity and customer satisfaction.Automatic lead selection or lead steering is also intended to improve efficiencies, both for inbound and outbound campaigns, whereby inbound calls are intended to quickly land with the appropriate agent to handle the task, whilst minimizing wait times and long lists of irrelevant options for people calling in, as well as for outbound calls, where lead selection allows management to designate what type of leads go to which agen...
Read more