The 3 Major Types Of Marketing
A common term that many people hear or read about every now and then is marketing. This is due to the reason that this phrase is something that many people and business are getting involve to. Truth is, this is a procedure that is revolving around selling and buying different kinds of products in the market.
Whether you believe it or not, there are 3 main types of marketing that a business or an entrepreneur may engage. The undifferentiated marketing, differentiated marketing and concentrated marketing are these 3 types of marketing. Each of the said types have its own benefits and drawbacks that a company or person must consider very carefully before implementing any of it.
For the first type of marketing we will be talking about, it is the undifferentiated marketing or otherwise known as mass marketing. A company doesn't mind the differences between its consumers, which is the simplest explanation for it. Instead, the company goes out in the market and brings a particular product and their marketing strategy for it. Read the marketing definition at http://www.britannica.com/EBchecked/topic/365730/marketing.
Actually, this is a great type of marketing as it's easy to plan and will probably not miss a single customer. On the other hand, because of the reason that this kind of marketing isn't aiming for any particular consumer, if it won't be a success, then it will probably be a waste of time, effort and money.
The differentiated one is another type of Aquira marketing, which is the opposite of mass marketing. This is due to the reason that this kind of marketing approach is aiming to do business with a particular group of audience. The products that the company may be selling could vary in its market segments. However, the drawback regarding this approach is its cost. In comparison to the former, this is often more expensive and also has the tendency that the message that the firm is trying to spread may miss out some consumers. But despite of this, it's sure to be an effective and efficient marketing approach considering that this gives emphasis to every market segment.
And for our last type of marketing, it is referred as concentrated marketing to which the firm is trying to address its message to smaller market. The concept between differentiated marketing with aquira.co.uk and concentrated marketing is nearly the same but in the latter, the market segment is smaller. For companies or firms with limited resources, it gives them the chance to concentrate their marketing but, there's a chance that other areas of market might be disregarded. This is why such marketing approach must be performed carefully.
A common term that many people hear or read about every now and then is marketing. This is due to the reason that this phrase is something that many people and business are getting involve to. Truth is, this is a procedure that is revolving around selling and buying different kinds of products in the market.
Whether you believe it or not, there are 3 main types of marketing that a business or an entrepreneur may engage. The undifferentiated marketing, differentiated marketing and concentrated marketing are these 3 types of marketing. Each of the said types have its own benefits and drawbacks that a company or person must consider very carefully before implementing any of it.
For the first type of marketing we will be talking about, it is the undifferentiated marketing or otherwise known as mass marketing. A company doesn't mind the differences between its consumers, which is the simplest explanation for it. Instead, the company goes out in the market and brings a particular product and their marketing strategy for it. Read the marketing definition at http://www.britannica.com/EBchecked/topic/365730/marketing.
Actually, this is a great type of marketing as it's easy to plan and will probably not miss a single customer. On the other hand, because of the reason that this kind of marketing isn't aiming for any particular consumer, if it won't be a success, then it will probably be a waste of time, effort and money.
The differentiated one is another type of Aquira marketing, which is the opposite of mass marketing. This is due to the reason that this kind of marketing approach is aiming to do business with a particular group of audience. The products that the company may be selling could vary in its market segments. However, the drawback regarding this approach is its cost. In comparison to the former, this is often more expensive and also has the tendency that the message that the firm is trying to spread may miss out some consumers. But despite of this, it's sure to be an effective and efficient marketing approach considering that this gives emphasis to every market segment.
And for our last type of marketing, it is referred as concentrated marketing to which the firm is trying to address its message to smaller market. The concept between differentiated marketing with aquira.co.uk and concentrated marketing is nearly the same but in the latter, the market segment is smaller. For companies or firms with limited resources, it gives them the chance to concentrate their marketing but, there's a chance that other areas of market might be disregarded. This is why such marketing approach must be performed carefully.