karthur

What are the various patterns of target market selection?

Can some one provide the various patterns of target market selection?

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attourney

"Patterns : A) Single-segment concentration: -The marketer decides to cater to a single segment only. - Concentrated marketing; the marketer understands the needs and wants of the segment and focuses on one segment only. - Example: Rolex watches B) Selective specialization or Multi-segment: - The marketer caters to a two or a few segments with different marketing mixes. - It offers varied product and service offerings with distinct marketing mixes to the various segments. Example: Maruti, Soaps and detergents from Procter and Gamble, Tata Group of Hotels. C) Product specialization: -The marketer deal with varying products in the same product line; it adapts the product to sell to several different market segments. Example: Gillette D) Market Specialization: - The marketer deals with one specific market only; he tries to meet many needs of a particular customer group. Example: The various Ordinance Factories in India exist to cater to meet the various needs of the Defence forces only. E) Full market coverage: - Here the marketer caters to the entire market. -It could take two forms: Differentiated and Undifferentiated. Differentiated: The marketer would operate in the whole market and offer different products for the various segments; Example: IBM, HP. Undifferentiated: Mass marketing; The marketer would treat the market as a single segment and offer a single product. He would ignore differences amongst various segments; Example: Salt, Pepsi. Source: http://in.docsity.com/en-docs/Market_Segmentation_and_Positioning_-_Consumer_Behavior_-_Solved_Quiz_"

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lavrita

"Single-segment concentration: -The marketer decides to cater to a single segment only. - Concentrated marketing; the marketer understands the needs and wants of the segment and focuses on one segment only. - Example: Rolex watches"

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