MARK 201 Chapter Notes - Chapter final: Personal Organizer, Mass Customization, Micromarketing
15 May 2017
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Undifferentiated marketing targets the whole market with one offer: mass marketing, fo(cid:272)uses o(cid:374) (cid:272)o(cid:373)(cid:373)o(cid:374) (cid:374)eeds rather tha(cid:374) what"s differe(cid:374)t. Differentiated marketing targets several different market segments and designs separate offers for each: goal is to achieve higher sales and a stronger position, more expensive than undifferentiated marketing. Concentrated marketing (niche marketing) targets a large share of one or a few smaller segments or niches: limited company resources, knowledge of the market, more effective and efficient. Micromarketing is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations. It includes: local marketing: involves tailoring brands and promotion to the needs and wants of local customer groups. Examples are cities, neighborhoods and stores: individual marketing: involves tailoring products and marketing programs to the needs and preferences of individual customers. Core customer value: is the most basic level and addresses the question (cid:862)what is the buyer really buying? (cid:863)
