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 ?
The recognition focused on evidence of a focused and differentiated marketing strategy which has helped to strengthen or reshape WestJet's overall market positioning with strong commercial and financial results.
Based on the current product portfolio of launched drugs and pipeline products and taking into account the diagnosis and treatment records of different clinical departments of hospitals, the Group has established professional teams to conduct differentiated marketing and management for its product lines.
"This quarter was a testament to our differentiated marketing strategy, which enables us to capture significant pricing upside during peak weather events while delivering consistent volume and pricing performance at other times," Brock said.
"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.
The company recently re-organised the sales team and refined its product classification to apply differentiated marketing strategies to push new product sales, as well as the sales of "high potential" products, which in total accounted for 10%-15% of its revenue.
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.

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