Niche marketing can be defined as channelling marketing efforts and strategies towards a pre-defined market segment of a population. Through using niche marketing strategy, the business can specialize and will be able to attract more profitable customers.
What is Mass Marketing? Basically, mass marketing is a strategy which is directed towards attracting a huge portion of the audience. It aims to address the highest number of potential customers while ignoring niche demographic differences. The strategy involved in this type of marketing strategy focuses on a higher volume of sales at lower prices so as to obtain maximum …
The 3 C’s of marking is a very popular concept for marketers. This concept takes into consideration 3 variables to explain a complete marketing strategy. The 3 C s, customers competitors and company, is a strategic triangle when integrated, a sustainable competitive advantage can be achieved.
What Is Psychographic Segmentation? Psychographic segmentation divides potential consumers based on their interests, personalities, lifestyles, activities, and other similar factors. This kind of market segmentation is done to cater to consumers with similar likes and needs and offer them something they value. Using this segmentation, companies target different messages to different customer segments for a single product, highlighting the product’s …
Demographic segmentation divides the market into segments based on variables like age, gender and family and offers the product and services that satisfy their mutual needs. This marketing tutorial explains market segmentation variables and examples
What Is Geographic Segmentation? Geographic segmentation is a process of grouping customers based on where they live. Companies segment their target market geographically when needed to focus on a specific area. Geographic market segmentation tends to optimize the marketing strategies of a business by matching products and services to different regions, cities and countries where the customers live. All of …
In this article, we will discuss market targeting. What is it and why need to know it. We have already discussed market segmentation and learnt that companies are unable to reach all customers in the market. The company cannot fulfil all customers needs that is too large. Therefore, to solve this problem marketers segment the market into small segments. After this, …
Market segmentation divides the target market into subsets of consumers based on common preferences, need and wants. segmentation examples are age, gender, region, city, social class, lifestyle.
Segmentation allows marketers to reach their target audience by segmenting customer base in demographic, geographic, psychographic and behavioral customer segmentation
