KIC000084 - 3/3/2010 • Concentrated Targeting Strategy...

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Unformatted text preview: 3/3/2010 • Concentrated Targeting Strategy Concentrated Targeting Strategy Advantage: Concentnted Targeting S'lnltegy Nlehe .m_~.t. DrwHgmllntof • • • • iiiiiiiiiiiiiii _ - ceneentraucn or resources MlH!Its narrowly denned segment Small flnns can compete 5t1ong po$ltionln~ _ Disadvantages: .. Concllntnled Strategy Multisegment Targeting Strategy • • Segments too small, or changing Large ecmceutcrs may market [0 niche eegment MUltisegment Targeting Strategy .. .. • Advantage: Muttlsegment Targeting Strategy succen • Greater financial • Economies 01 scale D;sacJvanrages: • MultiHgment High costs • Cannibalization Stnllegy • • • • • • • ProdU4;1 design costs Produetlon costs Promotion costs In...sntory c.osts Mar1l,eting research costs Management Cannibalization costs .. .. Multllutgment StniIItegy ~ Sftudon tNt occura When .... 01. fMW produce cut Into .... of. film'. eddnu --- • 2 .---------------------------------------------------- 3/3/2010 • :i ';~ Market Segmentation, ~,~ Targeting and Positionin~ Steps in Segmenting Markets Even though the segmentation classifications are static, the customers and prospects are changing. Keep in mind thai markets are dynamic and must be monitored proactively for changes in age, etc Strategies for Selecting Target Markets • ~¥I[~Strategies for Selecting "iii Target Markets - -- Undiffenmtiated Because most markets will include customers wilh differenllifestyles, backgrounds, and income levels, il is unlikely ltJat a single marketing mix will all segments of the market anract Concentrated Strategy Strategy .. .. Multisegment Strategy Advantage: • Potential savings on production and marketing costs Disadvantages; • Undifferentiated Strategy Unimaginative product offerIngs • Company more susceptible to competition • 1 ...
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This note was uploaded on 09/01/2011 for the course MTK 340 taught by Professor Folger during the Spring '11 term at Iowa State.

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KIC000084 - 3/3/2010 • Concentrated Targeting Strategy...

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