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Strategic Marketing - Case Study Example

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The study aims at understanding the various segmentation strategies adopted by firms and the manner of their implementation. And also describes the segmentation strategy of a mobile handset manufacturing industry to understand the process of market segmentation…
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Strategic Marketing
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Download file to see previous pages A study conducted by the University of Delaware shows various initiatives taken by the firms towards market segmentation. The study proposes two types of segmentation strategies namely, the concentration strategy and the multi-segment strategy. In the first strategy, one single market segment is carved out and the firm targets only that particular market segment. This technique offers certain advantages as the firms adopting this strategy can focus all the, or available resources to tap that single segment. This strategy allows firms with small resources to concentrate their focus on one single segment thus providing an opportunity to compete with the bigger organizations. The study also highlights the demerits of this strategy. It says that firms adopting this strategy could face serious problems if customers’ tastes start varying. Moreover firms using this strategy may face problems if they try to expand their markets. The second strategy states that firms should target different market segments, and have a distinct plan for each segment. This strategy aims at combining the attributes of concentrated and undifferentiated marketing. Firms adopting this strategy face considerably lesser amount of risk as they cater to different market segments. A shift in the taste of the customer may not necessarily affect the business prospects of the firm as they have products to cater to the varying tastes of the customer. This technique also provides the option of shifting the excess into the production and maintenance facility. This technique puts the firm in a less risky position. This technique requires large amount of resources which is not feasible for smaller companies. Marketers adopting this technique must also realize that product differentiation is maintained in each of the customer segments (University of Delaware, n.d.).
Globalization has brought about a huge competition in the market. Firms are now trying to capture markets across the globe. Each firm is using its core competence to defeat its rival and make an impact in the market. ...Download file to see next pages Read More
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