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MB0046 Q. Discuss the types of target marketing strategies.

Answer:  Depending upon the emerging patterns of market segmentation, homogeneous preference (showing no natural segments as in case of soft drinks sale by Pepsi and Coca-Cola), diffused preference (showing clear preferences as in case of automobile market), and clustered preference (market showing natural segments as in case of occupation having impact on the types of clothes worn), a company chooses its market segmentation
strategy.

A) Undifferentiated Marketing: It is a market coverage strategy in which the company treats the target market as one and does not consider that there are market segments that exhibit uncommon needs. The company focuses on the centre of the target market to get maximum advantage. The feature of „one product-all segments calls for presenting one marketing-mix for the target market. For example, the Coca-Cola Company sells Coke, Limca, Thums-up etc., and does not distinguish the target audience.
B) Differentiated Marketing: It is a market coverage strategy in which the company goes for proper market segmentation as depicted by its analysis of the total market. The company, therefore, goes for several products or several segment approach which calls for preparing different marketing mixes for each of the market segment. This strategy is followed by Hindustan Unilever Limited which sells different soaps (Life Buoy, Lux, Rexona, Liril, Pears etc.) and each of them has its own market. Thus, the company creates segments in the soap market and not in toiletries market (including soaps, detergents, toothpaste, etc.)

C) Concentrated Marketing: It is a market coverage strategy in which company follows „one product-one segment principle. For example, Ashok Leyland produces large chassis of machine which can be used for buses and trucks. The manufacturer gets maximum knowledge about the segments needs and therefore acquires special reputation. This strategy can also help small companies to stand against a large corporation because small companies can create niches in its one-product one-segment approach by providing maximum varieties. 

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