Maruti Suzuki Marketing Strategy Essays
Thus, there is always a possibility to carve a niche within a segment to customise marketing efforts according to group of target customers.
Niche segment consists of sufficient number of customers seeking somewhat specialised benefits from a good or service.
It means to concentrate organisation’s marketing efforts on a single segment.
Unfortunately there are large risks associated with this strategy.
Over the last 25 years, Suzuki effectively used an adjacent segment strategy and is a market leader in each segment.
Market segmentation opens the door to multiple market-based strategies and greater marketing efficiency.
However, these companies do modify their products and communication.For example in case of a power supplier, the segments may include domestic users, government users, commercial establishments, factories, occasional users, etc.The power supplier would serve all the segments at the same time.7 Important Segmentation Strategies are described below: When differences in customer needs are small or demographics are not distinctive, a business may decide to use a mass market strategy or ‘undifferentiated marketing’.The firm ignores any segment differences and design a single product-and-marketing programme that will appeal to the largest number of consumers.Should the chosen segment cease to be viable the firm would also cease to operate.Putting all the eggs into one basket can be hazardous.One of the segments, which is large enough and representing 50% or more of the market would be the centre of focus.We may also call it as the Single-segment marketing.As Maruti penetrated this segment, it moved to an adjacent segment in terms of price and quality by adding Maruti Zen.Next was entry into a large car segment with Maruti Esteem.