Targeting

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13 Terms

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Advantage

: risk diversification.

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Advantage

The firm gains a strong knowledge of the segment's needs and achieves a strong market presence

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Risks

A market segment may turn sour and competitor may invade the segment

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Companies may try super-segments

A set of segments sharing some exploitable similarity

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Advantage

risk diversification

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Target Market Selection

After profiling segments, firms have to make a decision on how many segments to target. Evaluation of segments is done before selection.

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Super Segments

A set of segments sharing some exploitable similarity

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Selective Specialization

The firm selects a number of segments, each objectively attractive and appropriate

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Product Specialization

The firm makes a certain product and it sells to several different market segments

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Market Specialization

The firm concentrates on serving many needs of a particular customer group

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Full Market Coverage

The firm attempts to serve all customer groups with all the products that they may need

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Undifferentiated Marketing

The firm ignores segment differences and goes after the whole market segment

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Differentiated Marketing

The firm operates in several market segments and designs different products for each segment