In this, there is one segment with a unique marketing mix designed for that particular segment.
Differentiated Marketing Mix
Each target segment receives a special designed marketing mix, that is, for each market wehave a special mix consisting of product, price, promotion and place. Here we target severalmarkets with different marketing mixes. This is called differentiated marketing. This is usedby firms which are financially strong and well established in a product category and competewith other firms, that are also strong in the same product category (Soft drinks, automobiles,detergents). For a small company, concentrated marketing is a better bet.
When a firm practices differentiated marketing strategy in different target markets, somesegments tend to shrink, so that they do not have enough size and promise, and are not worthwhileto be worked upon separately. They are merged together or recombined for better handling.This is known as counter segmentation strategy.
Lifestyle marketing is being used extensively these days for developing new products,positioning new products and, creating new product opportunity. Lifestyle research helps inselecting media, formulating media and promotional strategies, and improving retailperformance.
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Consumer Behaviour Tutorial
Psychographic Or Lifestyle Segmentation
Concept Of Culture & Subculture
Cultural Variations In Non-verbal Communications
Family Buying Influences, Family Life Cycle And Buying Roles
Diffusion Of Innovation
Personality And Self Concept
Motivation And Involvement
Information Processing Learning And Memory
Attitude Development And Alternate Evaluation In Buying
Search And Evaluation
Purchasing Process And Outlet Selection
Purchase Behaviour (situational Factors)
Models Of Consumer Behaviour
Consumerism (public Policy And Consumer Protection)
Organisational Buying Behaviour
Changing Consumer Behaviour
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