>> May 8, 2010
For creating target market or segmenting the market, we can use following strategy :
Undifferential Marketing or Mass Strategy
In this strategy, company does not make small segment of market and target the whole market in one offer. All marketing mix policy will be same for all parts of market.
Differentiated Segmented Marketing
In this strategy, company divides his products, services according to need of different consumers. Company's all market policy will be different for all market segmentation.
Company of refrigerator enters in differentiative marketing technique and divide his product on basis of income of consumers.
Ist Product - 165 liters. with two door advance refrigerator for rich consumers.
2nd Product - 165 liters. with one door simple for middle consumer.
This strategy is used when company has limited resources and wants high profit from specific segment of market, at that time company makes market policies for specific segment.