How to Attract Certain Age Groups Into Your Restaurant, Small Businesses Vs. it treats the entire market or large part of market as its target market. Each mix includes a product, price, position and promotional program modified particularly for an exacting segment. 2. © copyright 2020 QS Study. The main advantage of this strategy is the cost economy. Coca-Cola Company’s early marketing of only one drink in one bottle size in one taste to suit all is a good example of this. Contrast between Selling Concept and Marketing Concept, Aid or Assistance Available by Consumer Protection Act, WSU Scientists develop software to identify drug-resistant bacteria, Technologist research on Software of autonomous driving systems, Demonstration of Pressure Sensing Hand Gesture Recognition, The discovery of black nitrogen solves a chronic chemical anomaly. Differentiated marketing is the targeting of two or more market segments, with separate and distinct market offerings (that is, different marketing mixes), which have been designed to closely meet the needs of those particular segments. The tourism marketer must make the important decision as to whether he or she wishes to use an undifferentiated, concentrated, or differentiated targeting strategies. Undifferentiated marketing strategies take less time to put together and are often shorter in duration. The upcoming discussion will update you about the difference among undifferentiated, differentiated and concentrated marketing. Concentrating targeting has no require for mass manufacture, allotment and promotion, one can be a focus for the intended market assigning a single and accurate message. Concentrated Marketing is also called limited coverage market segmentation. With the recent rise in online niche marketing, choosing between differentiated and undifferentiated marketing strategies is a bit like comparing apples to oranges. Increase in the number of customers results in increase in the sales and thereby the profit of the organisation. Differentiated marketing combines the best attributes of undifferentiated marketing and concentrated marketing. It can be defined as: eval(ez_write_tag([[250,250],'segmentationstudyguide_com-box-4','ezslot_6',262,'0','0'])); There are legitimate reasons for adopting each of the three broad target market strategy approaches. It is an extreme case of target marketing under which firm selects only one or few segments as its target market. The narrow product line helps in bringing down the inventory cost, administrative cost, advertising cost, etc. Differentiated, undifferentiated and concentrated Marketing Strategies Segmentation refers to the process of dividing the market of consumers into groups based on one or more shared internal or external characteristics. It is concerned with focusing all the resources on one or few market segments. Using a differentiated marketing strategy, the restaurant can appeal to the college crowd by marketing cheap specials on food and drinks, the family crowd by marketing kid-friendly meal options and table entertainment and to the elderly by marketing senior discounts and early-bird specials. Differentiated marketing is any marketing strategy with more than one target market. Segmentation refers to the process of dividing the market of consumers into groups based on one or more shared internal or external characteristics. The humble house brick might be the battery of the future. Differentiated marketing is a compromise between undifferentiated and concentrated marketing. It attracts maximum number of customers by providing different products to different customers according to their needs and wants. Differentiated Marketing Vs Undifferentiated Marketing Meaning. There is not one approach that is better than the others. Differentiated marketing occurs when a company creates campaigns that appeal to two or more different target audiences, demographics, or marketing … Difference # Differentiated Marketing: Differentiated marketing is a compromise between undifferentiated and concentrated marketing. An undifferentiated targeting strategy is used when a company decides to communicate the benefits of its product by sending the same promotional message to everyone. What makes online marketing so unique is its ability to reach targeted audiences with a high reach. Marketing strategies are designed to create focus and a detailed approach for a marketing campaign. This free study guide has been prepared to meet the information needs of university-level marketing students throughout the world.