The most common measure to calculate the market concentration is the Herfindahl-Hirschman Index (HHI).
This index is calculated by adding the square root of the percentage market share of each individual firm in the industry.
What is a differentiated target market
Differentiated marketing is a strategy that involves a company creating marketing campaigns that appeal to two or more segments of their target audience.
It helps companies improve brand recognition, reach a wider audience, meet customers’ needs, and increase revenue.
What is Micromarketing strategy
Micromarketing is an advertising strategy that allows a corporation to target a niche group with a particular product or service.
With micromarketing, a company defines an audience by a specific trait, such as gender or job title or age range, and then creates campaigns geared toward that specific group.
What are the 3 psychographic market segmentation
There are five psychographic segmentation variables on the basis of which homogeneous segments can be prepared for proper research – Personality, Lifestyle, Social Status, AIO (Activities, Interests, Opinions), and Attitudes.
What is the first step of the marketing research process
The first step in the marketing research process is defining the problem or the question your research is trying to answer, followed by developing a research plan to answer that question, collecting and analyzing the data, and then producing a report.
What is an example of differentiation strategy
Differentiation strategy allows a company to compete in the market with something other than lower prices.
For example, a candy company may differentiate their candy by improving the taste or using healthier ingredients.
What is potential market
A potential market is a market you haven’t reached that covers people interested in the product, but not yet buyers.
If a brand expands its products, it can attract and attain new demographics that aren’t customers now.
How does Coca Cola segment the market
Coca-Cola’s market segmentation focuses on four various elements, namely geographic, demographic, psychographic, and behavioral.
Coca-Cola might have originated from the United States, but it has expanded its brand to various countries across the globe over the years.
Is Gucci a niche market
Gucci sells and markets to a niche market and always market their products as exclusive.
In terms of their target market being aware of their brand in terms of fashion, the brand awareness of Gucci is extremely high.
What marketing concept does Nike use
Nike implements both value-based and premium pricing strategies to price and sell their products.
Value-based pricing uses consumer perception to determine the maximum price consumers are willing to pay for their products.
What are the 4 factors of target market
A target market can be translated into a profile of the consumer to whom a product is most likely to appeal.
The profile considers four main characteristics of that person: demographic, geographic, psychographic, and behavioral.
What are the three alternative market coverage strategies
Three market coverage alternatives including; undifferentiated marketing, differentiated marketing, and concentrated marketing.
Does Nike use differentiated marketing
Nike is a sports and lifestyle brand that create a variety of products and offers for many different market segments.
For each segment, their differentiated marketing strategy allows them to be more relevant to each market segment yet each campaign fall in-line with the overarching strategy of the brand.
What is target’s business strategy
Delivering affordability to our guests. Differentiating from our competition with our owned brands and a curated assortment of leading national brands.
Investing to create an engaging and differentiated shopping experience.
How does McDonald’s use concentration strategy
It involves market research and innovation, and creativity to develop the new product. McDonald’s started its business by offering burgers initially; the company expanded its product portfolio by offering French fries, breakfast, and soft drinks.
Is Tesla a niche market
Tesla Motors Strategy To stay competitive in the niche market, Tesla Motors has expanded its operations globally with locations in the U.S. and China.
Which of the following is an advantage of a multisegment targeting strategy quizlet
With a(n) ________ strategy, a firm selects one segment of a market for targeting its marketing efforts.
Which of the following is an advantage of a multisegment targeting strategy? It provides economies of scale in manufacturing and marketing.
What is expansion through concentration
Simply, the strategy followed when an organization coincides its resources into one or more of its businesses in the context of customer needs, functions, and technology alternatives, either individually or collectively, is called expansion through concentration.
What are the 4 types of segmentation with examples
There are four main customer segmentation models that should form the focus of any marketing plan.
For example, the four types of segmentation are Demographic, Psychographic Geographic, and Behavioral. These are common examples of how businesses can segment their market by gender, age, lifestyle etc.
What is concentric diversification strategy
a growth strategy in which a company seeks to grow and develop by adding new products to its existing product lines to attract new customers; also called convergent diversification.
See: Conglomerate Diversification Horizontal Diversification.
What is multisegment strategy
Multisegment targeting strategy, otherwise known as “differentiated marketing strategy”, involves the firm targeting several different market segments simultaneously, providing each segment with its own distinct benefits and marketing mix, as well as its own marketing strategies.
Which of the following is an advantage of using the undifferentiated targeting strategy
In the context of strategies for selecting target markets, which of the following is an advantage of an undifferentiated targeting strategy?
It develops and maintains a highly specialized marketing mix.
What are the 5 segmentation methods
There are many ways to segment markets to find the right target audience. Five ways to segment markets include demographic, psychographic, behavioral, geographic, and firmographic segmentation.
What are the various 6 segmentation methods
This is everything you need to know about the 6 types of market segmentation: demographic, geographic, psychographic, behavioural, needs-based and transactional.
What are segmentation made of
In marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics.
Citations
https://quizlet.com/52294601/mktg-chapter-9-flash-cards/
https://www.indeed.com/career-advice/career-development/concentrated-marketing
https://www.segmentationstudyguide.com/how-concentrated-marketing-differs/
