In one paragraph for each question, answer the questions in full sentences 1) Explain the difference between a targeted marketing strategy and a mass marketing strategy. 2) What are the advantages of utilizing a targeted marketing strategy?
In one paragraph for each question, answer the questions in full sentences 1) Explain the difference between a targeted marketing strategy and a mass marketing strategy. 2) What are the advantages of utilizing a targeted marketing strategy?
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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In one paragraph for each question, answer the questions in full sentences
1) Explain the difference between a targeted marketing strategy and a mass marketing strategy.
2) What are the advantages of utilizing a targeted marketing strategy?
Expert Solution
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Step 1
1)
A targeted marketing strategy is a strategy that aims at smaller and defined target segments. It produces more accurate results in comparison to mass marketing. On the contrary, mass marketing strategy refers to a strategy wherein a company decides to ignore the differences in the market segment and appeal to the entire market with a single strategy or offer. It makes the broadest appeal possible and thus the result obtained using this strategy can become diluted.
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