EFFECTIVE MARKETING STRATEGIES

Effective Marketing Strategies

Targeted marketing seeks to offer goods and services to a selected group of customers. It
considers people of all income levels and satisfies their preferences. There is a differentiation of
some aspects of marketing such as promotion, price and offering for groups of customers that are
carefully selected. The process is always successful since it involves dividing up the prices from
the lowest to the highest which fits what every customer may want or afford to pay. It also
presents them with a variety of items. For example, the introduction of cars of varied models and
colors rather than uniform automobiles made the General Motors one of the most successful
Company some years back (Sloan, 1950). Hence, the target marketers are able to reach a greater
number of customers. Mass marketing on the other hand, though it came first, involves selling
the same product to everybody. Although it is rather hard to convince customers to buy the same
thing, it was successful at first because there was no competition in the market. Advertisements
were made solely for just one product and they were done majorly in national publications.
Several characteristics have to be considered in market segmentation. Selecting
customers according to their behavior is one strategy. This involves researching how they act
towards a product and the benefits they want from it. It is easier nowadays to collect such
information and monitor buying patterns even for small firms through the internet. Social media
allows the marketers to keep in close contact with their buyers.
Surveying of personal characteristics of buyers is the second strategy. Such characteristics
include age, income, gender, nationality and ethnicity. It is easy to use since demographic
information is available publicly. Marketers are able to tell at what age their buyers are likely to
buy their various products for example, cars, plots, video games. With this information, they cost

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effectively plan for what to release into the market at a certain period. This helps them to evade
losses that they are likely to incur due to the changing demographic trends.
Segmentation by location is also utilized by marketers. This enables companies to
establish stores where customers are crowded. The size of a city and how densely it is populated
is also considered in market segmentation. Climate differences of places and migration pattern of
the people is also looked into to evaluate opportunities. These strategies help the marketers find
and attract new customers and also get to know what they really want. This is basic for every
company to succeed.

EFFECTIVE MARKETING STRATEGIES 4

References

Tanner, J., & Raymond, M. (2012). Principles of Marketing. Irvington, NY: Flat World
Knowledge, Inc.