Influences of Targeting on the Marketing Mix

Once an organization has identified its target market(s), it must align its marketing mix elements to fit the unique context of its target market(s). This involves customizing the four key marketing mix elements: product, price, place, and promotion.

The following table identifies some of the key marketing mix questions organizations must address.

Marketing Mix and Targeting Strategies

Here is how the marketing mix can be shaped according to various targeting strategies.

Undifferentiated Marketing (Mass Marketing)

Product: Offers a standard product that appeals to a broad audience without customization. The focus is on universal features that meet the basic needs of the entire market.

Price: Competitive pricing to attract the largest possible customer base. Economies of scale often allow for lower prices.

Place: Wide distribution channels to ensure product availability to as many consumers as possible. This includes supermarkets, convenience stores, and online platforms.

Promotion: General advertising campaigns using mass media like TV, radio, and billboards to reach a wide audience. The messaging is broad and aims to create brand awareness.

Differentiated Marketing (Segmented Marketing)

Product: Develops multiple product variations tailored to the needs of different segments. Each product line addresses specific preferences or requirements.

Price: Pricing strategies may vary between segments, reflecting the perceived value and competitive positioning within each group.

Place: Distribution channels are selected based on where each segment typically shops, which may include specialized retailers or online marketplaces.

Promotion: Customized marketing messages and campaigns for each segment, using targeted media channels to effectively reach and resonate with specific audiences.

Concentrated Marketing (Niche Marketing)

Product: Focuses on specialized products designed to meet the unique needs of a specific niche. The product often includes features that are highly valued by the niche market.

Price: Pricing can be premium, reflecting the specialized nature of the product and the lack of direct competition.

Place: Distribution is often more selective, focusing on channels that are frequented by the niche market, such as specialty stores or exclusive online platforms.

Promotion: Highly targeted promotional efforts that emphasize the unique benefits and features of the product, often using niche-specific media and events.

Micromarketing

Product: Offers highly customized products that cater to individual preferences or very small segments. This could involve personalized features or services.

Price: Pricing is often flexible and can vary significantly based on the level of customization and individual customer value.

Place: Distribution may be direct to consumer, often leveraging digital platforms to facilitate personalized service and delivery.

Promotion: Personalized marketing communications, often using data-driven insights to tailor messages to individual customers or small groups. Social media and direct marketing are common channels.