Marketing

Identify the basic target market selection strategies.

The basic target market selection strategies include undifferentiated marketing, differentiated marketing, and concentrated marketing.

Undifferentiated market refers to an approach that ignores the differences of each segment of the market and goes after the entire market. With this approach, one product or service will be designed to cover the entire market. This often includes focusing on what all segments of the market have in common, rather than what differs between them. The key features of this approach are that it means going after the entire market and that it does so with the same product or service.

Differentiated marketing refers to an approach where the differences of each segment of the market are identified and a product or service is designed especially for each segment. With this approach, the product or service is altered to suit specific markets. The key features of...
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