Chapter 7, Problem 9QA

Summary Introduction

To state: The differences between undifferentiated, differentiated, concentrated and customized marketing along with the concept of mass customization.

Introduction:

Market segmentation:It is defined as a process where the marketers divide the customer group into various segments that share important characteristics.

Mass customization: Itis defined as marketing strategy in which a firm transforms a good or service so as to meet an individual customer’s needs.