Question: Comment about this post. The total market strategy is a marketing technique used by companies, which consists in dividing the market into different groups of
Comment about this post.
The total market strategy is a marketing technique used by companies, which consists in dividing the market into different groups of buyers; every group has its own needs and behavior, and individual or mixed marketing strategies may be applied to the same group of clients. The marketing strategy chooses the segment that best applies to the kind of audience (targeting). Then, differentiation comes by selecting the features that make the product special for the targeted customers; the consumers prefer it instead of the others offered by the competitors. The product characteristics make this one to occupy a special place in the customers minds, what drives clients to buy it instead the similar one that is sold by competitors.
For example, if there is a gym in Miami, where its summer most of the year, buyers should be grouped according to the occasion. Thats why, a place specialized in smoothies and protein shakes would sell more than a coffee one, even if the latter also sells smoothies. Occasion segmentation and user status (the targeting audience are people who like to be healthy and in good shape) will guarantee the use of the product. A drink made with fresh fruits and nuts occupies the first place in the minds of the targeted consumers, because it makes the difference compared to a product with a high content of caffeine. However, if the busines would be located in an area with offices all around the place, then a coffee shop would be the best option for people that need a caffeine shot to start their day.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
