To market a new self-propelled, robotic lawn mower, several factors need to be carefully considered. These factors are characteristics of the product, customers’ needs and wants, and current resources. Upon weighing among these factors, in the position of an entrepreneur I plan to target upper class living in the suburban or rural areas in southern states using concentrated marketing strategy.
In choosing this particular segments, product characteristics and customers’ needs and wants are taken into account. Lawn mowers are used more frequently by people living in the southern states due to warmer climate. People living in the northern states are less likely to look for lawn mowers but may be more likely to look for snow blowers. Thus, to …show more content…
This would be a more effective and efficient targeting strategy considering the current situation when compared to other marketing strategies. Unlike undifferentiated marketing, concentrated marketing realizes that customers from different market segments would respond differently to the new self-propelled, robotic lawn mower. As a result, if mass marketing strategy is used, company resources would be wasted, and it would be difficult to maximize sales and profits for the lack of realizing different customer needs. Another marketing strategy called differentiated marketing would also not be suitable for the current situation since there is only one type of lawn mower developed so designing separate offers for different market segments isn’t applicable. In addition, differentiated marketing increases the costs of doing business because more products are needed to target customers from many segments. When compared to undifferentiated marketing and differentiated marketing, micromarketing might seem to be a great strategy at first glance as it tailors more to the needs of various market segments, but concentrated marketing is a better strategy than micromarketing. It is because micromarketing requires lots of resources to focus individually on each customer. However, as opposed to large, established companies, entrepreneurs have only limited resources when in the process of starting a business. But through concentrated marketing, less resource is needed to target customers as compared to micromarketing yet it still considers customers’ different needs. Therefore, concentrated marketing is able to efficiently and effectively achieve a strong market position by targeting a large share of affluent customers residing in the rural or suburban southern
In choosing this particular segments, product characteristics and customers’ needs and wants are taken into account. Lawn mowers are used more frequently by people living in the southern states due to warmer climate. People living in the northern states are less likely to look for lawn mowers but may be more likely to look for snow blowers. Thus, to …show more content…
This would be a more effective and efficient targeting strategy considering the current situation when compared to other marketing strategies. Unlike undifferentiated marketing, concentrated marketing realizes that customers from different market segments would respond differently to the new self-propelled, robotic lawn mower. As a result, if mass marketing strategy is used, company resources would be wasted, and it would be difficult to maximize sales and profits for the lack of realizing different customer needs. Another marketing strategy called differentiated marketing would also not be suitable for the current situation since there is only one type of lawn mower developed so designing separate offers for different market segments isn’t applicable. In addition, differentiated marketing increases the costs of doing business because more products are needed to target customers from many segments. When compared to undifferentiated marketing and differentiated marketing, micromarketing might seem to be a great strategy at first glance as it tailors more to the needs of various market segments, but concentrated marketing is a better strategy than micromarketing. It is because micromarketing requires lots of resources to focus individually on each customer. However, as opposed to large, established companies, entrepreneurs have only limited resources when in the process of starting a business. But through concentrated marketing, less resource is needed to target customers as compared to micromarketing yet it still considers customers’ different needs. Therefore, concentrated marketing is able to efficiently and effectively achieve a strong market position by targeting a large share of affluent customers residing in the rural or suburban southern