Posted in Marketing and Strategy Terms, Total Reads: 951
Definition: Rifle Approach
Rifle Approach can be defined as the marketing strategy where the objective is focus efforts on a very narrowly defined subject or area so that a precisely defined goal or target is achieved. The approach is based on the idea identification of the best market to make an entry and then focussing the marketing efforts on the customers in that market. It involves one-to-one marketing where marketing strategy is designed by keeping a specific group of audience in mind.
1) The one for all approach of yesteryears is not effective in the current market scenario. Customers want personalization which satiated their unique needs and wants.
2) Rifle approach of marketing has a very personalized touch to it. Customers who do not have enough time for making purchase decisions will always prefer a direct/personal marketing.
3) Companies adopting rifle approach will earn customer loyalty by their efforts and thus will be able to retain the best customers.
4) With the increasing use of Customer Relationship Management and companies gathering more and more data about its customers, personalized marketing approaches are only going to increase.
Rifle marketing has several benefits like -
1) Companies using rifle approach concentrate their efforts on individual segments, markets to make most optimal use of their marketing resources. They don’t waste their resources on those customers whom they won’t be able to satisfy.
2) Small companies with limited resources can compete effectively if they concentrate their efforts in limited market segments only. If the firm targets a wide market it would be stretched very thinly and would not be able to compete effectively.
3) Using Rifle Approach, companies can carefully design products with features which satisfy the needs of its specific/focussed target group.
4) The promotional campaigns and advertisements can also be designed very specifically keeping the target group in mind.