Concentrated marketing strategy involves directing all resources and efforts of a brand to market its services or products to one segment of its targeted Audience.
Many businesses consider different marketing strategies or strategies to advertise or sell their products. They may reduce their resources and build customer trust with a concentrated marketing strategy.
Determining which marketing strategy you choose will help in business depends on the products and the type of Audience segment your brand is targeting.
Understanding concentrated marketing will help you decide whether this strategy will help your business. This article discussed full marketing, its benefits, and how it will allow companies to attain results with fewer resources.
The beneficial approach companies are following is concentrated marketing. With this strategy, you narrow down your efforts and use fewer resources; a much-targeted audience also gets more loyalty.
Contents
What is Concentrated Marketing?
Concentrated marketing is a marketing strategy in which a business or company focuses only on one target market group for all its initiatives. Companies use concentrated marketing emphasis on how their product matches their niche or Audience.
They define their marketing segment depending on different features such as gender, shopping habits, race, age, personality, or interest.
For example, you can define your target audience depending on different factors, such as
- People with certain Health Conditions
- Pets
- Children’s
- Movie Lovers
- Farmers
- Homeowners
- Peoples lives in rural areas
Once you know your market target audience, you are fine-tuned to apply your concentrated marketing strategy to a smaller but targeted group of people that promises profit.
How Concentrated Marketing Strategy Benefits Your Business
Concentrated marketing can benefit your business differently. If you have a small business or startup, you can get many results from this strategy with fewer resources.
Any business can use this strategy if they have a well-defined niche target audience to benefit from this strategy in the following ways;
01. Customize Your Brand For the targeted Audience
Marketing and campaign strategies will be personalized based on your Audience and customized according to their interest and habit of purchasing. You can customize your products according to the niche.
02. Reduce The Number Of Resources
Your company or business will likely use fewer resources to market or advertise your product or services to the targeted Audience. You will market or promote your products or services more effectively with fewer resources.
03. Position You As An Expert
Your company will quickly become an expert in that field, greatly enhancing your image and boosting your sales. With a concentrated marketing strategy, you can quickly scale your company and identify where your company stands.
04. Easily Analyze Compagin and Strategy
With a concentrated marketing strategy, you have less data only related to your target audience, and you can analyze it quickly, can use it for the betterment of marketing.
More minor data is a positive as it takes less time to analyze and use in campaigns for effectiveness, allowing you to take action quickly.
05. Build Customer Loyalty
When marketing, meeting your customer needs can build the trust of your customers that leads to long term. The more their needs are met, the more likely they trust your brand. By sticking to remain with one type of niche, you create a sense of exclusivity.
06. Easier To Monitor Campaigns
When you concentrate your marketing strategies on a particular Audience, the number of competitors drops, making it easier to monitor the specific group of businesses.
How Can You Use a Concentrated Marketing Strategy
How you use concentrated marketing depends on how large your business is, where you stand, and whether you want to expand it. A concentrated marketing strategy can be a stepping stone for your business, slowly building trust with your customers and then growing.
The steps to get started with a concentrated marketing strategy are as follows;
01. Conduct Research
Research to find your niche behavior of the Audience. Essential to see is the financial condition of customers, their behavior, resources, and your company’s capabilities.
02. Define Target Customer
Importantly define your buyers or customers in this market.
03. Identify Buyer’s Activities
Identify where your target audience spends more time, both online and offline, so you have a better idea to run campaigns.
04. Content Marketing Plan
Create a content marketing plan for your Audience in the same language and remain in the same tone; tailoring your voice makes you unique in your niche.
05. Plan a Concentrated Marketing Strategy
Plan your strategy, monitor your targeted channels, and where you are getting more traffic. Include events around you, and don’t forget to partner with influencers.
06. Monitor Your Strategy and Execute
Execute your Concentrated market strategy and monitor it regularly. Modify it when you learn about the behavior of your customer. Keep modifications and updating the content of your strategy.
5 Succesful Concentrated Marketing Examples
Here are the top five examples of concentrated marketing examples
01. Rolex
A leading watch manufacturer creates different campaigns to attract the target market. The main strategy is that famous artists, influencers, and media personalities wear watches, which is the primary way if strategy for them.
02. Rolls-Royce
The luxury car manufacturer mainly targets their customers with a concentrated marketing strategy of 120 countries worldwide. The luxury brand targets the person with at least $30 million in cash.
03. Justice
Justice is a clothing company mainly targeting girls aged 6-12 with a concentrated marketing strategy across US and Canadian stores. Justice keeps on targeting teens, not their parents. Every justice promotion focuses on the segment of the target in their app.
They are also offering teens to play some games on the app. Justice apps also enable females to share their thoughts on how the world can change.
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04. Munchkin
Munchkin, a toddler and infant products company, mainly targets the parents of some age groups of their niche. One of their tactic of marketing is a Blog, where they post photos of parenting. They also work with parenting freelancers who show their products as sponsored content.
05. Omega
One of the high-quality watchmakers uses a concentrated marketing strategy to reach their customers worldwide.
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