BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Multi-segment approach
|
|
|
Concentration approach
|
|
|
Total market approach
|
|
|
Differentiated market approach
|
Detailed explanation-1: -A differentiated marketing strategy is one in which the company decides to provide separate offerings to each different market segment that it targets. It is also called multisegment marketing. Each segment is targeted in a particular way, as the company provides unique benefits to different segments.
Detailed explanation-2: -Single-Market Strategy Examples Companies using a single-market strategy focus on just one segment within the market. The segment can be defined geographically or demographically. For instance, a local brewpub would be an example of a brewer targeting a single geographically defined market segment.
Detailed explanation-3: -Undifferentiated Approach (Total Market Approach) Single Marketing Mix for the entire market. All consumers have similar needs for a specific kind of product.
Detailed explanation-4: -The marketing mix in marketing strategy: Product, price, place and promotion. The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product.