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Segmentation strategy
Segmentation means dividing the consumer market into sub segments with common interests. This strategy involves the development and pursuit of marketing programs directed at subgroups of the population that an organization or firm could potentially serve. The two different type of strategy are:
- Concentration Strategy: the company chooses to focus most of its resources on the development of a specific product or at least a small group of products that are aimed at a specific market.
- Differentiation Strategy: Independently reach different sectors of the market, rather than targeting the entire market with same strategy, for eg. low price strategy
Other segmentation strategies are,
- Aggregation/ Undifferentiation
- Enticing
- Majority Fallacy
- Niche Strategy
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