How a Differentiated Marketing Strategy Will Make Your Business Successful
It sounds like a term with more pizzazz than meaning. ‘Differentiated marketing strategy’ is the kind of term Jeff uses in meetings and everyone hates him for it. You know Jeff. We all have one in our lives. He knows all the lingo and spouts all the right terms even though he never actually does anything with it. He just overcompensates by being an incurable apple polisher. So he mentions differentiated marketing strategies and everyone groans. “Here he goes again,” the team thinks in unison. If his blustering has any effect at all it is to unite those around him. Knowing glances connect around the room and notes are passed via SMS and the now archaic paper method. And Jeff continues “We should be able to identify and determine what makes us unique and different from other competitors and incorporate them to our marketing strategy.” Well yes, that is the entire point isn’t it? People begin to shift uncomfortably in their seats. This guy is taking forever. “There are many marketing techniques that we as an organization can employ to counter our competitors. One of the keys to this is to identify prospective clients through segmentation and the ability to develop a niche in the market. Making use of this technique will not only allow our organization to stand tall in a crowded competitive environment but also make our business to grow immensely.” He finishes. Merciful silence settles into the meeting room. A hand shoots up. It’s Dan. Blessed simple Dan. Always ready to take one for the team. “Forgive my ignorance but what is a differentiated marketing strategy?” Everyone laughs. The tension once thick as my grandmother’s split pea soup has been watered down to the texture of her potato soup. Manager Catherine fields this one as if to let Jeff know he is done for the day. “A Differentiated marketing strategy is a type of marketing technique where an organization offers products and services different market segments after which they develop different marketing strategies for each.” “Thanks” Dan replies having not understood a word of the explanation. Jeff tries to continue, but Catherine shoos him back into his seat. The meeting finally ends and everyone goes on with their work until a few hours later an email from Catherine takes the idea to the next level. She explains again the idea that a differentiated marketing strategy is really not as intimidating as Jeff presented it. In basic terms when your company offers different products or plans, it can be advantageous to market them to different marketing niches in an effort to gain more market control. In fact here are some ways we can try it and see if the model is for us. Here is the breakdown.