Chapter 4

4 Pages
68 Views
Unlock Document

Department
Management (MGM)
Course
MGMA01H3
Professor
Ingrid L.Stefanovic
Semester
Winter

Description
INTRODUCTION Selecting an appropriate strategy depends on a variety of internal and external variables facing the firm ALTERNATIVE MARKET MATCHING STRATEGIES The very core of the firms strategy is to match product offerings with the needs of particular market segments. Following factors are taken into consideration o Company Resources Must be adequate to cover product development and other marketing costs o Differentiability of products Some products can be easily differentiated from others. Some can be produced in versions designed specially for individual segments o Stage in the product cycle As a product matures, different marketing emphases are required to fit market needs o Competitors strategies Strategies and product offerings must be continually adjusted in order to be competitive o Size of segment The potential segment must be large enough to make it worthwhile to develop Single-offer strategy is the attempt to satisfy a large or a small market with one product and a single marketing program o If its focused on one segment it is often called concentrated marketing o aimed at mass markets is often called indifferentiated or mass marketing multi-offer strategy is the attempt to satisfy several segments of the market very well with specialized products and unique marketing programs aimed at each segment o when its aimed at a large market is called differentiated marketing a successful match of products to segments through developing a marketing program with the appropriate product design, pricing strategy, distribution strategy, and communication strategy is vital to the market success of the firm in order for a multi-offer approach in a small market to be successful, the marketer must identify a high value niche in which customers can afford to pay for small production runs or, in some instances, customized products The company with a multi-offer marketing strategy should produce more sales by providing higher satisfaction for each of several target markets than would be possible with only a single-offer strategy o Whether a firm chooses either strategy depends on the managements goals, resources and profits www.notesolution.com
More Less

Related notes for MGMA01H3

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit