Concentrated Marketing Strategy - Consumer Behaviour

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.

Counter Segmentation
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 Topics