MKT 100 Lecture 7: Week 7 Theory & Metrics Notes

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Polina Buchan

Document Summary

Companies can choose to market their products to everyone but this is a bad strategy because too many varieties of customers in wants/needs etc. Mass or undi erentiated strategy means product/service provides same bene ts to everybody and value is perceived unanimously. Niche strategy company focuses resources on single segment > meeting needs of one de ned identi able customers. One product, many segments > avoids production costs but incurs promotion cost bc strategies change based on market in store/online products > same products, di erent methods i. e. purchase preferences. Many segments multiple products allows diversi cation and larger market share multiple products for multiple segments mean expensive for di erent marketing mixes/promotions. Micromarketing/one-to-one marketing/customization custom products for a single customer > nikeid. Too small = no upside to pursuing because not pro table. Less competition = more attractive segment, but may be reason for no competitors. Cost cost of reaching segment i. e. distance, not large enough.