Studied by 1 personAdvantage
________: risk diversification.
Advantage
The firm gains a strong knowledge of the segment's needs and achieves a strong market presence
Risks
A market segment may turn sour and competitor may invade the segment
Companies may try super-segments
A set of segments sharing some exploitable similarity
Advantage
risk diversification
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.
Super Segments
A set of segments sharing some exploitable similarity
Selective Specialization
The firm selects a number of segments, each objectively attractive and appropriate
Product Specialization
The firm makes a certain product and it sells to several different market segments
Market Specialization
The firm concentrates on serving many needs of a particular customer group
Full Market Coverage
The firm attempts to serve all customer groups with all the products that they may need
Undifferentiated Marketing
The firm ignores segment differences and goes after the whole market segment
Differentiated Marketing
The firm operates in several market segments and designs different products for each segment
Note
Flashcard