4. FULL MARKET COVERAGE
A firm attempts to serve all customer groups with all the products
they might need.
Only large firms can undertake a full market coverage strategy
Cam cover a whole market in 2 broad ways
Differentiated marketing
Undifferentiated marketing
Shivam Verma || IIT Delhi
5. FULL MARKET COVERAGE
Undifferentiated Marketing or Mass marketing
The firm goes after the whole market with one offer to the
bradest number of buyers
Mass distribution mass communication
Appropriate when all consumers have same preferences and
market has no natural segments
Henry Ford, Model-T ford in one colour, black
Lowest cost lower prices higher margins
Increasing Splintering of market, proliferation of channels &
communication is making difficult and expensive to reach mass
audience
Shivam Verma || IIT Delhi
6. FULL MARKET COVERAGE
Differentiated Marketing
The firm sell different products to all the different segments of
the market
Creates more total sales
Increase cost of doing business
No generalizations about its profitability are valid
Shivam Verma || IIT Delhi
8. MULTIPLE SEGMENTS
Shivam Verma || IIT Delhi
Selective Specialization.
A firm selects subset of possible segments(suprasegments), each
attractive and appropriate
May or may not be synergy among the segments
Diversifies the firm’s risk
Example: symphony orchestras
9. MULTIPLE SEGMENTS
Shivam Verma || IIT Delhi
Synergy can be achieved with-
Product specialization-
Sells a certain product to several different market segments
Building strong reputation on specific product area
Product maybe supplanted by entirely new technology
Market specialization-
Firm concentrates on serving many needs of a particular customer group
Building strong reputation among this customer group
Customer group may suffer budgt cuts or shrink in size
11. SINGLE SEGMENTS
Shivam Verma || IIT Delhi
Markets to only one segment
Example: Porsche on sports cars and Volkswagen on small cars
Deep knowlegde on segment’s need
Strong market presence
Operating economies by specializing its production, distribution and
promotion
13. NICHE MARKETING
Shivam Verma || IIT Delhi
Niche- narrowly defined customer group seeking distinctive mix of
benefits within a segment.
Marketers aim to understand customers’s needs so well that hey
willingly pay a premium
Example: Revolution plus sized apparel for women.
Niche is fairly small but has size, profit and growth potential
(‘chasing the long tail’)
Unlikely to attract competition
15. INDIVIDUAL MARKETING
Shivam Verma || IIT Delhi
Segments of one
One to one marketing
Major source- Internet
Customerization mass customization that empowers consumers to
design products and services according to their needs
Firms provide platform and tools and rents to customers the means
to design their own product
Raises costs
