Customizing your message to better communicate to a particular target customer of a target group of customer. Here the product is the same; just the promotions used for different customers are different as per marketer’s understanding of them.
Customizing your product to better suit the needs of a particular customer or a particular target group of customer. Frequent examples are airplanes and homes as they are high cost products and the company can afford to offer custom solutions.
Customized marketing is a very expensive way of marketing and is generally used for niche target groups with high revenue generating potential.
Customized marketing is also known as niche marketing as it is for a specific target audience and for customized products/services. This kind of a marketing is primarily for expensive products targeting towards rich customers