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Lesson 09 - Market Targeting

This document discusses market targeting, which involves selecting specific customer segments to target with unique marketing strategies. It describes the stages of target marketing as market segmentation, market targeting, and brand positioning. When targeting markets, companies consider the size, stability, accessibility, purchasing power, growth potential, and sales potential of segments. The document then explains four targeting strategies: undifferentiated/mass marketing, differentiated/segmentation marketing, concentrated/niche marketing, and micro marketing. It provides examples of each and concludes with self-assessment questions.

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Said Sabri Kibwana
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50 views

Lesson 09 - Market Targeting

This document discusses market targeting, which involves selecting specific customer segments to target with unique marketing strategies. It describes the stages of target marketing as market segmentation, market targeting, and brand positioning. When targeting markets, companies consider the size, stability, accessibility, purchasing power, growth potential, and sales potential of segments. The document then explains four targeting strategies: undifferentiated/mass marketing, differentiated/segmentation marketing, concentrated/niche marketing, and micro marketing. It provides examples of each and concludes with self-assessment questions.

Uploaded by

Said Sabri Kibwana
Copyright
© © All Rights Reserved
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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LESSON #10

MARKET TARGETING

Presented by:
Dr. Chacha Magasi
College of Business Education

1
Introduction
• Today, companies are using target marketing
instead of mass marketing.
• Target Marketing is the marketing approach
which focuses on serving a specific type of
customers.
• The logic behind target marketing is that
customers in a particular market are
heterogeneous.

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Stages of Target Marketing
• Target marketing involves three stages:
– Market Segmentation
– Market Targeting
– Brand Positioning.
• Market segmentation was discussed in lesson # 9
• The concept of market targeting is
therefore discussed in this lesson

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Market Targeting
• Market Targeting- is the process of assessing each
market segment and selecting one/more segments
to deal with.
• Selection of a viable market involves consideration of
the following factors:
 Size of the market segment (number of customers)
 Stability of the market segment
 Accessibility of the market segment
 Purchasing power
 Growth potential of the market segment
 Sales potential

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i. Undifferentiated Marketing or Mass
Marketing
 Mass Marketing is the marketing strategy which
involves serving all customers using the same
marketing mix
 It is a “one-size-fits-all” marketing strategy
 In this case, there is no market segmentation, hence
no specific target market
 For example:
 When Coke was first introduced, there was one
beverage flavor introduced into the general
market

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When Henry Ford introduced the Ford Automobile, he
offered one model to the market with one color option,
black.

Same product, pricing, promotion


Entire Market
and distribution strategies

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ii. Differentiated/Segmentation Marketing

 This is the marketing strategy which involves serving


several market segments using unique marketing
strategy for each segment
 This strategy involves product differentiation and market
segmentation
 In this case, a firm offers several brands of a
particular product and uses different marketing
tactics to market the brands
 For example:
 Nowadays Coke-Cola has many different brands of
beverages that are tailored to consumers’ choices

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la
Co
ca
Co
of
ng
ti
ke
ar
M

Strategy 1 Segment 1

Strategy 2 Segment 2
Company

Strategy 3 Segment 3

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iii. Concentrated/Niche Marketing
 This is the marketing strategy which involves serving a
single group of customers using a single marketing
strategy
 This strategy is primarily used by smaller marketers who
have identified small sub-segments that are not served
well by larger firms
 For example;
 Lefty’s is a left-handed retail store based in San
Francisco, that sells tools specially designed for
left-handers. For example, if someone searches
“left handed scissors” on Google, they will see
online advertisements from Lefty’s.

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Niche/Concentrated Marketing

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iv. Micro Marketing
 This a customized marketing strategy
 In this case, the marketing strategy is directed to an individual
consumer or a small group of highly targeted customers
 Examples;
 A business that markets to people in a particular locality
 Marketing to only co-workers

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Self Assessment Questions
1) After segmenting the market, the business needs to assess and
select a viable market segment to deal with. Describe the
characteristics of viable and attractive market segment.
2) Name the market targeting strategy described in each of the
following scenarios:
a) Coca-Cola Company Ltd has many different brands of
beverages that are tailored to consumers’ choices.
b) Coca Cola has introduced the diet coke for people who are
more health conscious
c) Magazine Soho is a brand new print magazine published by
Cd Vann. It targets a segment of small business
d) Proctor & Gamble offers hair care product particularly for
African-American women in the United States with Pantene
Relaxed and Natural
e) When Coke was first introduced, there was one beverage
flavor introduced into the general market

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