MKT 100 Final: Chapter 7 MKT Final

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fathima Saleem

Document Summary

Explain how a irm decides what type of segmentaion strategy to use: undifereniated, difereniated, concentrated or micromarkeing. Most irms use some form of segmentaion strategy. An undifereniated strategy is really no segmentaion at all and only works for products or services that most consumers consider to be commodiies. The diference between a difereniated strategy and concentrated strategy is that the difereniated approach targets muliple segments, whereas; smaller irms or those with a limited product/service ofering oten use concentrated strategy . Firms that employ a micro-markeing or one-to-one markeing strategy tailor their product/service ofering to each customer-that is, it is custom made. In the past, micromarkeing was reserved primarily for arisans, tailors or other cratspeople who would make items exactly as the customer wanted. Recently, however, larger manufacturers and retailers have begun experimening with custom-made merchandise as well. Service providers, in contrast, are largely familiar with customizing their ofering. Hair salons could not lourish if every customer got the same cut.