ASSIGEMENT - MARKETING FUNDAMENTAL
. Comment on the segmentation and targeting strategy of Ford Mustang.
The third stage of the market segmentation process is the creation of a specific
Market mix to fulfill the needs, as well as market conditions of each specific target ` `
Segment (Wilkie, 1990; Gunter & Furnham, 1992; Kotler, 1994). Although many authors
Limit the market segmentation process to market identification rather on the key elements
Of the entire process, most companies fail to give due importance to other stages in
Market segmentation such as product positioning and mix development (Sarabia, 1996).
Once the firm has chosen a market segment it must choose a generic competitive
strategy. At this point it is also necessary to review the selected strategy across segments
and explore general strategic approaches. In some cases it might become apparent that a
Counter-segmentation strategy is applicable. In other cases, the development of distinct
Mixes for each segment uncovers inconsistencies or lack of resources at the corporate
Level and so it is necessary to revert to the segment evaluation stage.
According to Kotler (1994, p. 293) the only sustainable generic strategy in a
Segmented market is differentiation. He explains that the only other generic competitive
strategy alternative (low cost) is not sustainable in a segmented market. In addition, a
strategy successful at differentiating must generate customer value, provide perceived
value, and be difficult to copy.
At this point in the process the company selects those ways in which it will
Distinguish itself from its competitors. In most cases the differentiation involves multiple
Elements. In fact, "most successful differentiation strategies involve the total
Eureka Facts, the Smart Marketing Information organization, its structure, systems, people, and culture." (Aaker, 1996). One way to... [continues]
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