Types of target
Lifestyle-market
What the hell!!!
Thereis no informarion in SB
Reasons:
Wrong term
Does not exsist in nature
Mass-market
reduce economies of scale
easy to identify a product’s marketing strategy
enjoy high returns
high level of competition
high advertising and promotional costs
Example: Coca-cola
applies intense advertising and promotion
The objective - to reach the maximum number of consumers as possible
capture the whole consumer base,really price sensitive (Heterogeneous buyers)
appear in the whole market
Niche-market
Analyse
Advantages
targeted market has homogeneous buyers with identical needs
less competition
increased brand loyalty
relatively ease of managing
Disadvantages
is not suitable for small companies and for the companies that intend to grow
Characteristics
example: ‘Sensodyne for sensitive teeth’
strategy - to capture a clearly defined target market
capture a relatively small number of buyers, remains for a long time (Homogeneous buyers)
Objective- to develop a value proposition
