MKT 100 Lecture Notes - Lecture 8: Deodorant, Future Shop, Target Market

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4 Aug 2016
Department
Course
Professor
Week 8
Targeting
Companies have a choice in whom they target their product to
Targeting Strategies
Mass marketing; the product or service provides the same benefits to everyone and everyone perceives
them to have the same value
Rarely an effective strategy
Too many differences among consumers in terms of their wants, needs, desires, likes and dislikes
Niche or Concentrated
One product
One segment
Often choice of small startups that don’t have resources to do well in multiple segments
Products that have a limited appeal thus can realistically only target one segment i.e., hearing aids
One to Many
One product
Many segments
Company avoids extra production costs but does incur extra promotion costs
Retailers; offer products in store and online i.e. future shop
Many to Many
Many products
Many segments
Allows company to obtain large market share
Can be expensive due to development and promotion
Large consumer packaged goods companies i.e. P&G
One to One: technology allows companies to custom design products for one consumer at a cost that is
reasonable enough for customers to be interested in purchasing and for the company to still make a profit
One custom product
One customer
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