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
Flashcards (24)