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Using Boundless PresentationsThe AppendixThe appendix is for you to use to add depth and breadth to your lectures. You can simply drag and drop slides from the appendix into the main presentation to make for a richer lecture experience.

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Undifferentiated TargetingConcentrated TargetingMeasuring a Successful Segmentation Identification of Target MarketsConsumer Marketing > Identification of Target Markets

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www.boundless.com/marketingUndifferentiated targeting occurs when the marketer ignores the apparent segment differences that exist within the market and uses a marketing strategy that is intended to appeal to as many people as possible.For certain types of widely consumed items (e.g., gasoline, soft drinks, white bread), the undifferentiated market approach makes the most sense.The benefits to undifferentiated targeting include a wide audience, lower (relatively) research and marketing costs, and a higher potential for sales volume.Undifferentiated Targeting

Free to share, print, make copies and changes. Get yours at www.boundless.comwww.boundless.com/marketing/textbooks/boundless-marketing-textbook/consumer-marketing-4/identification-of-target-markets-37/undifferentiated-targeting-189-7589Crest ToothpasteView on Boundless.com

Consumer Marketing > Identification of Target Markets

An organization that adopts a concentration strategy gains an advantage by being able to analyze the needs and wants of only one segment and then focusing all its efforts on that segment.Concentrated targeting is particularly effective for small companies with limited resources as it does not require the use of mass production, mass distribution, and mass advertising.Since the company has focused all their efforts on one market (essentially putting all their eggs in one basket), the firm is at risk for failing if demand decreases.Concentrated Targeting

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Consumer Marketing > Identification of Target Markets

A successful market segment must be large enough to earn profit yet stable enough that it does not vanish after some time.A successful market segment responds consistently to a given market stimulus and is able to leverage the appropriate marketing mix to respond to difference in preferences.A successful market segment has a clearly defined and measurable consumer base with clear and identifiable product preferences.Measuring a Successful Segmentation

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Consumer Marketing > Identification of Target Markets

Free to share, print, make copies and changes. Get yours at www.boundless.comAppendixKey termsmarket segment A marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs (and/or common desires) as well as common applications for the relevant goods and services.market segment Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and desires as well as common applications for the relevant goods and services.marketing mix The marketing mix is often crucial when determining a product or brand's unique selling point (the unique quality that differentiates a product from its competitors), and is often synonymous with the four Ps: price, product, promotion, and place.Mass Marketing a market coverage strategy in which a firm decides to ignore market segment differences and appeal to the whole market with one offer or one strategy.

Free to share, print, make copies and changes. Get yours at www.boundless.comConsumer MarketingCrest ToothpasteToothpaste isn't marketed to one particular market segment.

Free to share, print, make copies and changes. Get yours at www.boundless.comWikimedia. "Toothpasteonbrush." CC BY-SA http://commons.wikimedia.org/wiki/File:Toothpasteonbrush.jpg View on Boundless.comConsumer Marketing

CVS CaremarkCVS targets women since they make up 80% of the chain's customer base.

Free to share, print, make copies and changes. Get yours at www.boundless.comWikimedia. "CVS." CC BY-SA http://commons.wikimedia.org/wiki/File:CVS.jpg View on Boundless.comConsumer Marketing

Red Bull's targeted approach to MarketingRed Bull used Collegiate Brand Managers to promote the drink via free samples handed out at student parties.The company also organized extreme sports events--for example, cliff diving in Hawaii or skateboarding in San Francisco, reinforcing the brand's extreme, on-the-edge image.

Free to share, print, make copies and changes. Get yours at www.boundless.comWikimedia. "Red bull provisions." CC BY-SA http://commons.wikimedia.org/wiki/File:Red_bull_provisions.JPG View on Boundless.comConsumer Marketing

Free to share, print, make copies and changes. Get yours at www.boundless.comConsumer MarketingWhich of the following products would be best marketed using an undifferentiated market approach?A) Convertible automobileB) Orange juiceC) Ski equipmentD) Stiletto shoes

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Consumer MarketingWhich of the following products would be best marketed using an undifferentiated market approach?A) Convertible automobileB) Orange juiceC) Ski equipmentD) Stiletto shoes

Free to share, print, make copies and changes. Get yours at www.boundless.comConsumer MarketingAll of the following criteria must be met to successfully apply an undifferentiated marketing strategy EXCEPTA) maintaining low production cost per unit.B) maintaining low cost for marketing research and advertising.C) maintaining efficiency of scale in a medium-sized market.D) targeting a broad audience.

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Consumer MarketingAll of the following criteria must be met to successfully apply an undifferentiated marketing strategy EXCEPTA) maintaining low production cost per unit.B) maintaining low cost for marketing research and advertising.C) maintaining efficiency of scale in a medium-sized market.D) targeting a broad audience.

Free to share, print, make copies and changes. Get yours at www.boundless.comConsumer MarketingOne of the advantages of adopting a concentration marketing strategy is thatA) it allows marketers to analyze the needs and wants of multiple segments.B) it gives companies the ability to increase total profits of sales.C) it is particularly effective for small companies with limited resources.D) companies can satisfy the needs of diverse groups.

Free to share, print, make copies and changes. Get yours at www.boundless.comBoundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/

Consumer MarketingOne of the advantages of adopting a concentration marketing strategy is thatA) it allows marketers to analyze the needs and wants of multiple segments.B) it gives companies the ability to increase total profits of sales.C) it is particularly effective for small companies with limited resources.D) companies can satisfy the needs of diverse groups.

Free to share, print, make copies and changes. Get yours at www.boundless.comConsumer MarketingWhich of the following criteria do marketers need to consider in order to successfully segment consumer markets?A) Identify market segments that can be reachedvia the organization's promotional and distribution channels.B) Identify potential markets that are large, but not necessarily easy to measure.C) Identify potential markets that are externally homogenous.D) Identifypotential markets that respond differently to a given market stimulus.

Free to share, print, make copies and changes. Get yours at www.boundless.comBoundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/

Consumer MarketingWhich of the following criteria do marketers need to consider in order to successfully segment consumer markets?A) Identify market segments that can be reachedvia the organization's promotional and distribution channels.B) Identify potential markets that are large, but not necessarily easy to measure.C) Identify potential markets that are externally homogenous.D) Identifypotential markets that respond differently to a given market stimulus.AttributionWikipedia. "Target market." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Target_marketWikipedia. "market segment." CC BY-SA 3.0 http://en.wikipedia.org/wiki/market%20segmentDropbox. CC BY http://dl.dropbox.com/u/31779972/Introducing%2520Marketing.pdfWikipedia. "Market segmentation." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Market_segmentationWikispaces. CC BY-SA http://marketingblog.wikispaces.com/9.2+How+Are+Market+Segments+Best+Defined%253FWikipedia. "marketing mix." CC BY-SA 3.0 http://en.wikipedia.org/wiki/marketing%20mixWikipedia. "market segment." CC BY-SA 3.0 http://en.wikipedia.org/wiki/market%20segmentStartup Review. CC BY-SA http://www.startup-review.com/blog/eharmony-case-study-offline-advertising-the-key-to-scale.phpWikipedia. "Mass marketing." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Mass_marketingDropbox. CC BY http://dl.dropbox.com/u/31779972/Introducing%2520Marketing.pdfWikipedia. "Mass Marketing." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Mass%20Marketing

Free to share, print, make copies and changes. Get yours at www.boundless.comConsumer Marketing