differentiated marketing

differentiated marketing

or

targeting strategy

a MARKETING STRATEGY for a product which is based on the use of a variety of MARKETING MIX formats (different prices, advertising messages, retail outlets, etc.) each aimed at a particular group of customers in the market, i.e. MARKET SEGMENT. Contrasted with an UNDIFFERENTIATED MARKETING STRATEGY, which applies the same marketing mix formula right across the market, the differentiated approach attempts to customize its marketing mix for each particular segment in order to maximize its appeal to the buyers constituting those segments.

This approach is best suited to a market in which the product being sold is capable of being differentiated either by physical variations of the product itself or by its psychological appeal (see PRODUCT DIFFERENTIATION), and where buyers demand a substantial amount of product variety In these cases, differentiated marketing is usually much more successful than an across the board approach in boosting sales. However, the targeted approach may prove to be unduly costly in terms of both higher production Costs (for example, with smaller production runs a firm may be unable to lower costs through exploiting economies of scale) and marketing costs (for example, the need to finance a number of separate ADVERTISING and SALES PROMOTION budgets). See CONCENTRATED MARKETING or TARGETING STRATEGY, INTERNATIONAL MARKETING, MARKET SEGMENTATION.

References in periodicals archive ?
With our momentum in Mongolia and other Asian markets, OB will continue to move forward with differentiated marketing strategies to boost our exports," said an OB official.
But counting on only economy of scale to compete in the future might lead to disastrous failures without the support of solid quality products and differentiated marketing strategies.
Product innovation and differentiated marketing initiatives are among the major trends expected to drive the market during the forecast period.
PacificLink employs approximately 240 professionals in Hong Kong and includes a number of multi-award winning agencies that specialise in creating and delivering an integrated and connected set of differentiated marketing solutions for brands across a full spectrum of online and offline platforms.
PacificLink employs approximately 240 professionals in Hong Kong and includes a number of multi-award winning agencies that specialize in creating and delivering an integrated and connected set of differentiated marketing solutions for brands across a full spectrum of online and offline platforms.
He also added: "We are constantly investing in latest security solutions to ensure that our self-service channel is secured while ensuring that we constantly innovate to provide improved customer communications powered by differentiated marketing solutions and unified services across banking channels.
Maybank's group chief marketing officer, Mohamed Adam Wee Abdullah, said, 'We will continue to focus on brand building through a holistic programme that includes consistent customer experience across our global network, innovative products, sound financial performance and differentiated marketing programmes.
Then set yourself apart by introducing the concept and offering a differentiated marketing message focused on comprehensive solutions.
Just 35% differentiated marketing and sales for women and men clients/prospects.
Meanwhile, Ssangyong Motor will prepare itself for future changes in the market by adopting a differentiated marketing strategy to attract more demand and by expanding in the newly emerging markets.
According to Antonio, their resolve in developing innovative real estate products for the market over the past years, coupled with a differentiated marketing strategy, resulted in successful property sales.
Lee Yoo-il, CEO of Ssangyong Motor, commented, "The company's sales recorded an increase in both domestic sales and exports thanks to a differentiated marketing strategy and launch of face-lifted models reflecting customer needs," adding, "We will further increase our global sales by reinforcing our export product line-up and launching refreshed models on a continuous basis.

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