Market Strategies

• Market strategy definition is as follows: a

long-term plan catered toward achieving
the company's goals by providing
customers' needs with a competitive
advantage over the company's
competitors.
• Target market is a defined group most likely to
avail from the company's products or services.
Marketing opportunity analysis, or MOA, is used to
identify a target market. It provides information on
the size of the market, its potential for profitability,
and the players or competitors in the business
sector where the company belongs.
• What are the Target Marketing Strategies?
• MASS MARKETING
• Also known as undifferentiated marketing, mass
marketing does not segregate the target market and
offers one strategy for the entire market. It aims to reach
the most buyers, so product exposure is maximized. Its
success depends mainly on its reach to its target market
via national television, radio and print ad campaigns, and
so on. Most items under the mass marketing strategy are
staples or commodity items. Brand and image influence is
strong. Most products retain customers who buy them
until they wear out or are depleted(naubos na).
• DIFFERENTIATED MARKETING
• The next strategy is differentiated marketing, where the
company segregates and offers different promotions
based on small target groups. Also known as
multisegment marketing, this strategy focuses on
targeting each separate group by offering unique benefits.
Different groups may be based on gender, age, skin tone,
etc. The marketing strategy is to lure customers away
from established market players and get their overall
market share.
• NICHE MARKETING
• Also called concentrated marketing, niche marketing
targets only a few specific groups of consumers. The
company first chooses its image and defines its narrow
target market. Instead of serving many segments or
market sectors, niche marketing only focuses on very few
and stays in that group.
• MICROMARKETING
• Even smaller than niche marketing is the micromarketing
strategy. Also known as mass customization or one-to-
one marketing, this strategy depends on the
customization needs of its target market. The customers
specify their wants, and the company tries to serve the
requested product.
• Target Market Example: Business Plan
• Addresses target market as one big group
• Meeting needs of the common market
• Products that are considered necessities (staples and
commodities)
• Examples: toothpaste, shampoos, deodorants
• Differentiated Marketing
• Addresses different groups
• Meeting the needs of certain sectors and groups within
the target market
• Products catered towards particular groups (gender, diets,
religion, etc.)
• Examples: milk in different fat contents (fat-free, low fat,
whole milk, etc.
• Niche Marketing
• Addresses very defined and specific segment
• Meeting the needs of a highly specialized group
• Products that have very detailed attributes that serve a
certain niche
• Examples: high-end bags, luxury watches
• Micromarketing
• Addresses individual customers
• Meeting the needs of individuals for customization and
specialized services
• Products that are customized
• Examples: handmade goods, products that customers
can customize
• Question 1: What is the primary goal of a market
strategy?
• A) To increase brand awareness
• B) To maximize profits
• C) To reduce operational costs
• D) To hire more employees
• Question 2: Which of the following is not a component of
SWOT analysis?
• A) Strengths
• B) Weaknesses
• C) Opportunities
•
• Question 3: What is a differentiation strategy?
• A) Offering unique features that are valuable to customers
• B) Selling products at the lowest price in the market
• C) Focusing on a niche market segment
• D) Maximizing production efficiency
• Question 4: Which strategy focuses on selling existing
products to new markets?
• A) Market development
• B) Product development
• C) Diversification
• D) Market penetration
• Question 5: What is a key element in successful
implementation of a market strategy?
• A) Constantly changing the strategy
• B) Aligning strategy with organizational resources and
capabilities
• C) Ignoring market trends
• D) Relying solely on external consultants
• Question 6: How can a company evaluate the
effectiveness of its market strategy?
• A) By not considering customer feedback
• B) Through analyzing sales data
• C) By avoiding market research
• Question 7: When might a company consider rebranding
as part of its market strategy?

• A) When there's no change in market trends

• B) When the company wants to confuse its existing
customers
• C) When there's a need to create a new image or identity
• D) When competitors are thriving without rebranding