When businesses integrate a differentiated marketing strategy, they can appeal to more than one market and offer a range of products or services to fulfill each of their market’s needs.
What is Differentiated Marketing?
It’s marketing strategy where target at two or more customer segments or markets. Differentiated marketing keeps businesses and brands typically with separate marketing approaches for their various audiences rather than going with a single marketing strategy at one target market.
Advantages of Differentiated Marketing?
- Increased revenue
- Fulfill needs of customers
- Exploring the market and the position of your competitors within it
- Offering the appropriate products to the right people
- Opportunity to clarify the actual needs and expectations of your customers.
- Chance to choose clients based on your brand’s capabilities
- Efficient use of company resources.
Strategy of Differentiated Marketing
With this marketing strategy, any brand can create campaigns which communicate a message in two segments of their audience.
With this approach company can target more segments. A brands often develop marketing campaigns that aim at not only men, women, metro city people and rural but also customers from various age groups.
Besides all these, companies can create different messages in the same campaign to reach various mind of customer and segments.
For Developing this target market strategy, As per my view you have follow few steps:
Determine your target audience.
The most essential step is to define who your main customers are. For this purpose, you need to single out the main traits of your customers such as their age, location, gender, marital status, employment, income, and all the necessary information that can help you segment them into groups.
Defining the unique needs of customers.
With the help of surveys, for example, find out what products your customers prefer and what services help them deal with their problems. Additionally, use analytics tools to track your consumers’ buying habits to figure out which products they purchase regularly.
Developing offers for different segments.
Now that you know the needs of your customers, it’s time to provide them with your unique offers. For example, imagine one of your target segments prefers to purchase organic food. Keeping this in mind, and you can develop a special offer for this segment.
Identifying promotional channels.
To reach your customers, you need to select the appropriate ways to promote your products. For example, if your target groups most often use social networks then give a thought to developing promotional and advertising campaigns for social media channels.