Marketing is a common term that many people hear or read about every now and then because it is something that more and more are getting involved as well. It is basically a process that revolves around buying and selling different types of products in the market. There are three main types of marketing that a person can engage himself in. These three types are the undifferentiated marketing, differentiated marketing and concentrated marketing. Each of these types has their own definitions, advantages and disadvantages that a person or a company should carefully consider before anything else.
From the name itself, the first type which is the undifferentiated marketing is also known to be mass marketing. This simply means that a certain company does not mind the differences of the consumers. It is as if that all consumers are the same with it comes to their likes, dislikes and more. The company goes out in the market bringing only a particular product and a marketing strategy. This is actually a good type of marketing because it is easy to plan and will surely not miss a single consumer. However because this type of marketing is not aiming for a particular consumer, if it will not be successful, then it will definitely be a waste of money, time and effort.
The second type of marketing is the differentiated marketing which is a complete opposite of undifferentiated marketing. This is because this particular marketing approach aims to do business with a certain group of consumers. The products that a company may sell in different market segments can exactly be the same but they way the product is introduced as well as its image can be changed to a totally different one. The main disadvantage of this marketing approach is the cost. Compared to the first type, this is normally more costly and there is also a tendency that the message that the company is trying to spread can miss out some of the consumers. But despite of these disadvantages, this type remains to be very effective considering that is gives emphasis to each market segment.
And the last type of marketing is called concentrated marketing which means that a certain company is trying to address its message to a single small market. The idea of concentrated marketing is basically almost the same as that of differentiated marketing only that the market segment that it focuses on is smaller. This gives small firms or companies that have very limited resources to focus on their marketing but there is a big tendency that some other areas of the market can be disregarded. And because this marketing approach only places an emphasis on a small market segment, it may result to some problems by the time that company decides to expand in the future.