What is the meaning of differentiated marketing?
What is differentiated marketing? Differentiated marketing strategies are aimed at two or more customer segments or markets. In differentiated marketing, businesses and brands typically use separate marketing approaches for their various audiences rather than a single marketing strategy aimed at one target market.
What is differentiation in marketing with examples?
Differentiation strategy allows a company to compete in the market with something other than lower prices. For example, a candy company may differentiate their candy by improving the taste or using healthier ingredients.
What is the difference between concentrated marketing and differentiated marketing?
Differentiated marketing is a hybrid solution between undifferentiated, or mass marketing, and concentrated marketing. While a concentrated marketing strategy addresses just one segment of the marketplace, differentiated marketing attempts to specifically address more than one segment.
How do you differentiate a product?
How to differentiate your products
- Offer unbeatable customer service.
- Lean into your niche.
- Add a personal touch.
- Use price as a distinguishing factor.
- Give your customers options to customize your products.
- Be socially responsible.
- Use speed to your advantage.
How does differentiated marketing strategy work?
A differentiated marketing strategy is one in which the company decides to provide separate offerings to each different market segment that it targets. It is also called multisegment marketing. It carries higher costs for the company because it requires the development of unique products to fit each target segment.
What companies use differentiated marketing?
Let’s take a look at some popular examples of differentiated companies:
- Apple. While there are tons of tech companies out there, Apple has successfully differentiated its products over the years through innovation and product design.
- Amazon.
- Lush.
- Emirates.
- Chipotle.
- Hermes.