11. Setting the objectives of the marketing strategy

Question 1

What are the three types of marketing strategy?

Answer 1

1) Undifferentiated or mass: whole market appeal or large section with a single product.
2) Niche: aiming a product at a specific segment. Many wines are niche.
3) Multiple: appeal to many segments with one brand or multi targeting different segments.

Question 2

What are the seven possible aims of a marketing strategy?

Answer 2

1) Launch new product
2) Communicate improvement of an existing product
3) Increase sales
4) Increase market share
5) Improve brand awareness
6) Improve brand identity
7) Attract new customers

Question 3

How are some examples of how success might be measured?

Answer 3

Profits, value of sales, market share, new customers