Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Targeting strategies: having segmented the market, the firm now has to choose its marketing strategies. There are three strategies to choose from:
1. Standardization: in this strategy, the firm offers the same product to the different market segments. It uses the same communication pricing and distribution strategies. The classical example is of soft drink firms like coke and Pepsi, who retain the same flavour, advertising, packaging etc. across segments in the different geographical areas. The obvious advantage is the economics of scale which a firm gets in mass production and the marketing. Differentiation: this is just the opposite of the above mentioned strategy. Here the firm differentiates its products to suit the different segments needs and expansions. Typically, one has the example of an airline that differentiates its products in the three classes - the first class, business class and economy class. Each of these classes is targeted at a specific segment whose needs are different from the other.
2. Focus: this is a combination of standardization and the differentiation. Here the core strategy remains the same but differentiation is made to take into the account specific customer group requirements. For the example, the Maruti 800 to 1000 has some basis features and offers specific benefits to its buyers. However, a buyer who is looking for more features like safety belts, air conditioning, power steering and music systems can get the same at an additional price. In this way Maruti is able to focus its entire strategy on both economy and premium segments. This strategy helps the firm enjoy the economics of sales as well as higher market penetration, and consequently a higher market share. Therefore, the marketer has to choose the appropriate strategy in order to achieve higher market penetration in each of his market segments.
Defining Marketing Communications There is no universal definition of marketing communications and there are many interpretations of the subject. Table below represents some o
Q : Regress widget sales on time and add the (a) line, (b) linear equation and (c) R 2 (variance explained) to the graph you created in Q3. Please explain the meaning of each.
1. Issued 200,000 shares of $1 par value common stock for $10 per share. 2. Issued a $1,000,000 face value zero-coupon bond with a five-year maturity for $747,260 that is conver
(a) How can a firm's security policies contribute and relate to the six main business objectives? Give examples. (b) Define and discuss the use of cross-functional business pr
what are thepproaches used by FMCG companies in test marketing?
What are the different types of advertisement? Nature of Advertisement: Various types of advertisement are given below: a) Informative advertisement b) Persuasive a
Marketing Information System To perform their marketing responsibilities, marketing managers need excellent deal of information. "Information is power" is a legal statement. I
1. What is test marketing? Explain the various approaches that are followed by FMCG companies in test marketing.
This assignment requires you to choose: a product and find a market to promote your product, or a market and analyse its needs and find a product to satisfy the
Responsibility of marketing communications manager Tasks are undertaken in a context within which there may be many episodes or only a few. Note that more than one message is o
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd