Question

Favorite Memories is a small company that specializes in serving women over the age of 50 who are special occasion gift shoppers overlooked by major competitors.Which of the following best describes Favorite Memories' market targeting strategy?
A)undifferentiated targeting
B)custom marketing
C)differentiated targeting
D)concentrated targeting
E)mass customization

Answer 1

Answer:

D) Concentrated Targeting

Explanation:

As Favorite Memories is a small company that specializes in serving women over the age of 50 who are special occasion gift shoppers overlooked by major competitors. They are using concentrated targeting very well and effectively. This is a marketing strategy where we target one particular segment which has been ignored and overlooked by the competitors.  

This strategy is mostly used by the small companies because they do not have much resources in order to compete at all fronts with the competitors. This strategy e helps small companies in developing their distinct and specialized niche market. Companies try finding the gap in the market and then a whole new market is established in that gap.