Where to find a Reaction Paper Example

Sample Essay on Differentiated Marketing Strategy

Differentiated Marketing Strategy

Differentiated marketing strategy refers to a strategy for growing sales where several population segments or market niches are identified and targeted with various products for every segment or niche. This strategy refers to integration of sets of actions with an aim of producing or delivering services or goods that customers see as being different in certain ways that are crucial to them.

After identifying prospective consumers for a brand via a process known as segmentation, marketers come up with a strategy that enables them to target and reach the prospective consumers. There are different routes that marketers can take and differentiated marketing strategy is one of them.

To ensure their long-term growth, companies that have significant budget use differentiated marketing strategy. The basic step in developing a differentiated marketing strategy is usually segmenting the market into distinct demographic groups. This is followed by development of a strategy that will help in covering the market and determining how best to approach each of the segments.

When using a differentiated marketing strategy, a company develops various brands that meet specific needs of the segments of the consumers. For instance, if a company produces breakfast cereals it can target children by producing a brand of sweet cereals. It can also produce high-fiber and health conscious cereal for the dieters. The main tactic to the success of differentiated marketing strategy is ensuring that each brand in the group of brands produced by the same company has an independent marketing plan.

The main advantage of differentiated marketing strategy is that it can establish brand loyalty increasing the number of repeat buyers or purchases for each brand depending on the unique needs of the consumer segment that it targets. In a saturated market differentiated marketing strategy can aide a new brand in gaining traction.

For instance, a company that wants to conquer a mobile phone market instead of introducing a new phone brand can be better off when it develop a phone that target senior persons with bigger buttons and different types of mobile phones that address specific needs of other smaller consumer groups.

Nevertheless, differentiated marketing strategy has its disadvantages as well. For instance, this marketing strategy might not be a cost-effective marketing means for a small manufacturer. This is because conducting research and coming up with different brands can be costly.

A company that sells services instead of products can easily tailor its offerings for various audiences. When following this marketing strategy, it is important to segment consumers into different groups with different needs to avoid risking single brand cannibalizing. This is where the brand of a company steals the sales of the other rather than appealing to new buyers.

Order an essay on differentiated marketing strategy online

Are you struggling to write a quality essay on differentiated marketing strategy? Do you need online help of an expert to write and submit a descent essay within the deadline set by your teacher or lecturer? Then place an order with us at assignmentwritinghelp.net.

We guarantee you that we will deliver a supreme quality essay on differentiated marketing strategy within the deadline that you set for us when placing your essay order at assignmentwritinghelp.net.

Posted by:

admin

Related articles

list of articles

Categories

RSS RSS FEEDS

  • Sample Essay on SWOT Analysis of The Home Depot January 20, 2016
    SWOT Analysis of The Home Depot SWOT analysis of The Home Depot is among the best tools used by the home improvement retailer to gauge its ability to stay afloat and profitable in the market. Although it is considered the largest home improvement retail chain in the world with an estimated revenue base on more […]
    admin

ARCHIVES

Latest News From Blog

Check out Our Blog's assignment samples and tips on how to Write Assigments
Essay sample on the Effects of Cold War on Soviet Union..

Effects of Cold War on Soviet Union The Soviet Union was one of the main participants in the Cold War. It was engaged in the war with the USA and - See more

Essay sample on Effects of Cold War on Asia

Effects of Cold War on Asia Tensions of the Cold War began shifting from Europe to Asia in 1949 when Mao Zeodong proclaimed the birth of the ...Read More

Sample Essay on United Kingdom Healthcare System

United Kingdom Healthcare System United Kingdom healthcare system, also known as the National Health Service was established...Read More

Back to Top