A method of pricing a product in which the same product is supplied to different customers, or different market segments, at different prices. This approach is based on the principle that to achieve maximum market penetration, the price charged should be what a particular market will bear.
Differentiated marketing refers to a strategy that entails customizing products and marketing efforts to meet the distinct needs of different segments of consumers.
A broad group of buyers with approximately the same general needs, who can choose from different sellers offering varying ways to satisfy those needs.
Limited distribution involves restricting the availability of a product to specific geographic locations, stores, or areas within a geographic location to target a particular market segment or control brand exclusivity.
A comprehensive analysis of market profile, encompassing the demographic characteristics of potential buyers for a product or product line.
Market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics. The goal is to identify high-yield segments — that is, those segments that are likely to be the most profitable or that have growth potential — so that these can be targeted with tailored marketing strategies.
A niche represents a particular specialty in which a firm or person finds that they prosper. In marketing, a niche strategy involves targeting a small but lucrative portion of the market, ensuring efficient marketing efforts and minimal direct competition.
Positioning refers to the strategic process by which a brand or product is marketed in a specific manner in order to achieve a unique, desired perception in the target audience’s mind, relative to competitors.
Price discrimination is the practice of charging different customers different prices for the same products or services. When this practice is used to reduce competition, it may violate antitrust laws.
Psychographics involves determining market segmentation based on consumer psychological profiles. It encompasses various psychological attributes such as interests, values, attitudes, and lifestyle preferences, providing a deeper understanding of consumer behavior.
Revenue management, also known as yield management, employs sophisticated algorithms and data analysis to forecast demand and adjust pricing dynamically, optimizing revenue for industries with fixed and perishable resources.
Sales Area Marketing, Inc. (SAMI) is a specialized entity focused on region-specific marketing efforts aimed at boosting sales through targeted promotional strategies and customer engagement techniques. Their approach is rooted in understanding local market dynamics to craft campaigns that resonate with geographically distinct consumer bases.
A marketing strategy in which a company divides its broad target market into subsets of consumers who have common needs, and then designs and implements strategies to target them.
The specific group of consumers at which a company aims its products and services, generally defined by demographic and psychographic characteristics such as age, sex, education, income, and buying habits.
A target market is a specific group of consumers at which a company aims its products and services. This group is identified based on various attributes and preferences that align with the company's offerings, forming a crucial aspect of marketing strategy.
