One of the first problems that a company has to face when it comes to Marketing Strategies is the choice of the Target or the choice of that niche of people to which the company is aimed. It is important to establish the Target because each segment has its own “tastes” therefore there will be different communication strategies, a different type of positioning, price, etc.
To define the Target we need the segmentation
that allows us to choose between the different coverage strategies of the reference market:
- Mass approach (counter-segmentation policy): the market is considered homogeneous and it is believed that the supply is the same for everyone, i.e. we are referring to an undifferentiated market. If you want to learn more about the advantages and disadvantages of this approach, click here .
- Choice of broad segments : it is not intended to serve the entire market but only a broad segment, it specializes.
- Adjacent segments : fairly similar segments are covered, with adjacent needs.
- Multi-segmented : the whole market is hypothetically covered. It is the most demanding, typical of large companies.
- For small segments : when a small company decides to address a small segment.
- Niche Segments : Each niche covers approximately 5.10% of the market. It is used by small businesses that don’t have enough resources to cover a larger market. They offer specific products and have the opportunity to exploit a segment that large companies do not care about. There is a high risk of competition.
- Mass customization : a large number of segments are considered and an Bahrain Mobile Number List appropriate marketing strategy is activated in each of them (industrial goods, b2b)
- 1 to 1 marketing (hyper segmentation policy): this is the dream of companies, that is to be able to trace the tastes and behaviors of individuals in order to serve personalized offers for each user. This practice is becoming increasingly popular on the Web, where it is possible to track users, one example is Remarketing.
Let it be clear that the more segments
I do, the more I narrow the market and the more demand shrinks, so the Cryp Email List negative consequence is that we are seeing a rise in costs, but customers will be more satisfied. What it will actually be possible to do depends on:
- by the number of identifiable and potentially profitable segments
- from company resources
Once the (target) market has been segmented and the segment to refer to