Posted in Marketing and Strategy Terms, Total Reads: 8695
Definition: Adaptive Marketing
It refers to changing or reforming (adapting) a firm’s marketing mix to suit to the particular geography in which the firm is operating.
Example- Tata Group has launched Nano in India with the proposition of an economic car worth $ 2500 directed towards the middle segment. But they are planning to launch a similar version of the same vehicle in the name of Nano Pixel worth $4500 in European market for the youth.
The customers’ preferences are different in different geographical segments or different segments in the same geography in terms of cultural backgrounds, spending power and type of product required. Thus, the company needs to change its products, prices, channels, and promotion strategies to suit the consumers’ requirement in each country or area.