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Marketing Strategy Aim of Today’s Lecture The Aim of this session is to assess the concept of the varied marketing strategies and their influences upon the organisation and their customers. Recap Marketing Process / orientation Target Market After the process of segmentation the next step is for the organisation to decide how it is going to target these particular group(s). There are three targeting options an organisation can adopt. Option 1 Undifferentiated marketing: Sometimes referred to as mass marketing. The company may decide to aim its resources at the entire market with one particular product. Coca Cola’s original marketing strategy was based on this form. Option 2 Differentiated marketing strategy: Where the company decides to target several segments and develops distinct products / or services with separate marketing mix strategies aimed at the varying groups. Differentiated marketing strategy Example An example of this would be airline companies offering first, business class (segment 1) or Economy class tickets (segment 2), with separate marketing programmes to attract the different groups. Option 3 Concentrated Marketing: Where the organisation concentrates its marketing effort on one particular segment. The organisation will develop a product that caters for the needs of that particular group. Concentrated Marketing Example Rolls Royce cars aim its vehicles at the premium segment, same as Harrods within the UK. 12