Marketing Approaches and Targeting Strategies

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Questions and Answers

What is the primary focus of niche global marketing?

Targeting multiple segments simultaneously
Focusing deeply on one specific market segment (correct)
Reaching a large volume of consumers
Adapting products for global standards

Which company is an example of standardized global marketing?

Nike
Aston Martin
Inditex
Coca-Cola (correct)

What differentiates multiple-segment global marketing from niche marketing?

It uses a highly differentiated marketing strategy
It targets only affluent consumer segments
It aims to reach two or more distinct markets (correct)
It focuses on one specific product only

Which statement about standardized marketing is correct?

It employs minimal product adaptation on a global scale. (B) Signup and view all the answers

What is the main goal for marketers when targeting selected segments?

To effectively, efficiently, and profitably reach the target segment (A) Signup and view all the answers

What is a characteristic of standardized global marketing?

Utilizes minimal product adaptation (D) Signup and view all the answers

Niche global marketing seeks to attract multiple market segments.

False (B) Signup and view all the answers

Name one company that employs multiple-segment global marketing.

Inditex Signup and view all the answers

Coca-Cola uses a ______ marketing approach to target multiple markets.

standardized Signup and view all the answers

Match the marketing strategies with their descriptions:

Standardized marketing = Mass marketing with minimal adaptation Niche marketing = Depth in one local market Multiple-segment marketing = Targeting two or more distinct markets Coca-Cola = Example of standardized marketing Signup and view all the answers

Flashcards

Standardized Global Marketing

A strategy that utilizes a consistent marketing message and product across various global markets.

Niche Global Marketing

A approach that focuses on a specific segment of the global market for depth and impact.

Multiple-Segment Global Marketing

A strategy that uses multiple brands to reach different segments of the global market.

Market Segmentation

The process of dividing a market into distinct groups based on shared characteristics.

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Market Targeting

The process of targeting and communicating to specific segments of the market.

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Targeted Marketing Mix

Adjusting marketing mix for a specific segment, like tailoring a message for global youth vs. baby boomers.

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Study Notes

Targeting Selected Markets

Marketers target segments with appropriate marketing mix strategies.
Marketing messages vary according to the target segment, like those for youth vs. baby boomers.
The goal for marketers is to reach selected segments effectively, efficiently, and profitably.

Global Targeting Approaches

Standardized Marketing: Treats the global market as a single large market.
- Employ a standard marketing mix with minimal product adjustments.
- Example: Coca-Cola
Niche Marketing: Focuses on a single segment within the global market.
- Seeks depth, not breadth, in local markets.
- Example: Aston Martin
Multiple-Segment Marketing: Targets two or more distinct markets.
- Uses multiple brands to appeal to different segments.
- Example: Inditex (Zara, Pull & Bear, Bershka)

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Description

Explore various marketing approaches such as standardized marketing, niche marketing, and multiple-segment marketing. This quiz covers how marketers effectively target selected segments with tailored marketing mixes and messages. Test your knowledge on global targeting strategies and brand examples.