Total Market Strategy - Definition & Meaning
What is Total Market Strategy?
Total market strategy is serving the entire spectrum of the market by selling differentiated products to each segment of the market.
Requirements for total market strategy are a combination of employment of a combination of prices, product, promotion and distribution strategies in different segments, along with top management commitment to cover the entire market and a strong financial backing to tackle the competition and prices in course of this.
There are a number of entry strategies for adopting a total market strategy
- First in strategy
- Early entry strategy
- Laggard strategy
A number of product strategies to supplement the total marketing strategy
- Product positioning
- Product scope
- Product design
- New product strategy
Promotion strategies to supplement the total marketing strategy
- Promotion mix strategy
- Media selection strategy
- Advertising
Distribution strategies to supplement the total marketing strategy
- Distribution scope
- Multi-channel strategy
Pricing strategies to supplement the total marketing strategy
- Skimming
- Penetration
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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