MKT-300 Final: Final Exam Review - Detailed explanations and overview
Document Summary
Undifferentiated targeting strategy: a marketing approach that views the market as one big market with no individual segment and thus uses a single marketing mix. Concentrated targeting strategy: a strategy used to select one segment of a market (niche) for targeting marketing efforts. Multisegment targeting strategy: a strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each. Cannibalization: a situation that occurs when sales of a new product cut into sales of a firm"s existing products: how can. Crm entails tracking interactions with customers to optimize customer satisfaction and long-term be used as a targeting tool? company profits. Crm allows marketers to target customers with extremely relevant offerings. Tend to customize the goods and services offered to customers based on data generated through interactions between carefully defined groups of customers and the company.
