What are the common market target strategies?

1. Indifferent marketing strategy

Indifferent target market strategy means that all customers have the same demand for fund investment regardless of the differences of each market segment. Indifferent target market strategy ignores the special needs of customer groups in each market segment. In this case, marketers can design a single marketing mix to directly face the whole market, cater to the needs of the largest range of customers in the whole market, and attract as many customers as possible with large-scale advertising and promotion. The theoretical basis of indifference marketing is the economy of cost. Producing a single product can reduce the cost of production, storage and transportation; No difference in advertising and other promotional activities can save promotional expenses; Without market segmentation, enterprises can reduce their marketing investment in market research, product development and making various marketing mix plans. This strategy is suitable for products with wide demand, high market homogeneity and mass production and sales.

2. Differentiated marketing strategy

Differentiated marketing strategy is to divide the whole market into several market segments and formulate an independent marketing plan for each market segment. For example, clothing manufacturers launch products with different brands and prices for consumers with different genders and income levels, and use different advertising themes to promote these products, which is the differential marketing strategy adopted.

the advantages of differential marketing strategy are: small batch, multiple varieties, flexible production and strong pertinence, which can better meet the needs of consumers and promote product sales. In addition, because the enterprise operates in multiple market segments, it can reduce business risks to a certain extent; Once an enterprise succeeds in several market segments, it will help to improve its image and market share.

The shortcomings of differentiated marketing strategies are mainly reflected in two aspects: First, increasing marketing costs. Due to the variety of products, management and inventory costs will increase; Because the company must develop independent marketing plans for different market segments, it will increase the marketing cost of enterprises in market research, promotion and channel management. Second, the resource allocation of enterprises may not be effectively concentrated, and even the phenomenon of competing for resources within enterprises may occur, making it difficult for fist products to form advantages.

3. Centralized marketing strategy

Differentiated marketing strategy and undifferentiated marketing strategy are implemented. Enterprises take the whole market as their marketing goal and try to meet the needs of all consumers in a certain aspect. Centralized marketing strategy is to concentrate on entering one or a few market segments and implement specialized production and sales. To implement this strategy, enterprises do not pursue competition in a big market, but strive to occupy a larger share in one or several sub-markets.

the guiding ideology of centralized marketing strategy is that it is better to make a breakthrough and succeed than to attack everywhere with little effect. This strategy is especially suitable for small and medium-sized enterprises with limited resources. Small and medium-sized enterprises may not be able to compete with large enterprises in the overall market because of financial resources, technology and other factors, but it is more likely to succeed if they concentrate their resource advantages in one or several market segments that large enterprises have not taken into account or established absolute advantages.

knowledge extension:

target market strategy means that an enterprise regards the whole market of products as a target market and develops the market with a single marketing strategy, that is, attracting as many buyers as possible with one product and one marketing scheme. Indifferent marketing strategy only considers the similarities of consumers or users in demand, and does not care about their differences in demand.