2 differentiated marketing also known as segmented

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2. Differentiated marketing: also known as segmented marketing. Here, the firm decides to target more than one market segment and design products to offer for each segment chosen. {example would be Tide detergents as they now have more than one kind to sell and offer, each to satisfy a specific need}. 3. Concentrated marketing: also known as niche marketing. In this strategy, they target a large group in a small segment rather than a small group in a big segment. It is more effective when it fine-tunes its products, prices and programs into that large groups needs. It is also more efficient if they only target the consumers that they can best serve and who are most profitable. {an example would be stitch fix; a box of clothing tailored to your style and need}. Highly profitable but with higher than normal risks. 4. Micromarketing: tailoring products and marketing programs to match the needs and tastes of specific individuals and local customer segments. Local marketing: is tailoring the needs and tastes based on local customers {an example would be uber eats}. Some of its disadvantages is that it can drive up manufacturing and marketing costs by reducing the economies of scale. It can also create logistics problems as companies try to meet the varied requirements of different local markets. Individual marketing: here they are basically going all out with customization to individuals as this is the most extreme form of micromarketing. {an example would be Nike and how they created more than 100,000 customized animated videos for their customers based on individual workouts}. *the more you go down from 1 to 4 the more narrow targeting becomes. 27. Value Proposition: Differentiation and Positioning strategies

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