Monday 30 January 2012

Product-market coverage strategies

Would the adoption and implementation of competitive product-market coverage strategies reflect on modification of a sound Marketing-mix of an organization? Obviously yes.

For example an organization that adopts and further implements an Undifferentiated product-market coverage strategy chooses to ignore market segments and goes after the whole market with one offer. The "One size fits all"–focuses on what is common between buyers, rather than what is different.

On the other hand, a firm that follows a Concentrated product-market coverage strategy goes after a large share of one or a few markets. Practicaly, this happens when a firm has experience or expertise in Marketing product-services to these segments.

Finally, a firm selects and implements a Differentiated product-market coverage strategy when Marketing management decides to target several market segments and designs separate offers for each. Typically, this product-market coverage strategy creates a stronger position with each market segment and more sales than Undifferentiated Marketing which is broader and more vague.

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