Differentiated marketing is a highly appropriate segmentation strategy for ________.
a. innovative companies in new industries with few competitors
b. established companies developing new technologies in their industries
c. new companies that are trying to break into the market for an existing product category for which there is already a strong market leader
d. financially strong companies that are well established in a product category and competitive with other firms that are also strong in the category.
Answers
Answer is Option A
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Answer:
bstract
Businesses may not be in a position to satisfy all of their customers, every time. It may prove difficult to meet the exact requirements of each individual customer. People do not have identical preferences, so rarely does one product completely satisfy everyone. Many companies may usually adopt a strategy that is known as target marketing. This strategy involves dividing the market into segments and developing products or services to these segments. A target marketing strategy is focused on the customers’ needs and wants. Hence, a prerequisite for the development of this customer-centric strategy is the specification of the target markets that the companies will attempt to serve. The marketing managers who may consider using target marketing will usually break the market down into groups and to target the most profitable segments. They may adapt their marketing mix elements, including; products, prices, channels, and promotional tactics to suit the requirements of individual consumers. In sum, this chapter explains the three stages of target marketing, including; market segmentation (ii) market targeting and (iii) market positioning.