Differentiated marketing refers to marketing strategies in which you operate in several segments and develop separate offers and strategies for each segment. This is similar to concentrated marketing but targets two or more niche markets.
For example, you previously did business clothes for young women. You have generated enough income and capital to expand your reach to new market segments.
Say, you are expanding to work on the clothing market for young men (gender segmentation). You think the two segments share the same tastes and trends.
In this strategy, you strive to meet the unique or specific needs of each segment. You need to customize the product according to the specific needs in each segment, including developing unique features and benefits.
By targeting several well-defined customer profiles, you can build your customer base that is bigger than concentrated marketing. Customizing offers also allows you to dominate in each niche, and build brand awareness organically.
Differentiated marketing offers higher income potential than concentrated marketing. More market segments mean more customers buy.
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Also, having a variety of products helps you to build more effective distribution channels. Often, retailers and distributors prefer producers with a range of products because they appeal to different consumer groups.
However, more segments also mean more expenditure, for example, for advertising. You also have to design different ads for each segment. If not, your message will confuse consumers in the target market.
