Types of target
Niche-market
Characteristics
Objective- to develop a value proposition
capture a relatively small number of buyers, remains for a long time (Homogeneous buyers)
strategy - to capture a clearly defined target market
example: ‘Sensodyne for sensitive teeth’
Analyse
Disadvantages
is not suitable for small companies and for the companies that intend to grow
Advantages
relatively ease of managing
increased brand loyalty
less competition
targeted market has homogeneous buyers with identical needs
Mass-market
Characteristics
appear in the whole market
capture the whole consumer base,really price sensitive (Heterogeneous buyers)
The objective - to reach the maximum number of consumers as possible
applies intense advertising and promotion
Example: Coca-cola
Analyse
Disadvantages
high advertising and promotional costs
high level of competition
Advantages
enjoy high returns
easy to identify a product’s marketing strategy
reduce economies of scale
Lifestyle-market
What the hell!!!
Thereis no informarion in SB
Reasons:
Does not exsist in nature
Wrong term