Four Focus Strategies

1994 Words May 12th, 2013 8 Pages
Four Focus Strategies
It's not usually realistic for a firm to try to appeal to all actual or potential buyers in a market, because customers are too numerous, too widely scattered, and too varied in their needs, purchasing behavior, and consumption patterns. Firms themselves vary widely in their abilities to serve different types of customers. So rather than attempting to compete in an entire market, each company needs to focus its efforts on those customers it can serve best.
In marketing terms, focus means providing a relatively narrow product mix for a particular market segment a group of customers who share common characteristics, needs, purchasing behavior, or consumption patterns. Successful implementation of this concept requires
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Providers of less tangible services also offer a "menu" of products, representing a bundle of carefully selected elements built around a core benefit. For instance, universities provide many types of undergraduate education, ranging from two-year certification programs to the completion of bachelors' degrees, and from full-time residency to evening extension programs.
Most also offer graduate studies and no degree continuing education classes. The supplementary service elements include advising, library and computer resources, entertainment opportunities like theater and sports events, food and health care services, and a safe, pleasant campus environment.

The Power of Service Brands brand: a name, phrase, design, symbol, or some combination of these elements that identifies a company's services and differentiates it from competitors. Because of the difficult competitive challenges faced by service providers, especially the problem of differentiating an intangible performance, branding plays a special role in defining and positioning a company's service offerings. As Leonard Berry states:
While the product is the primary brand for packaged goods, the company itself serves as the brand for services. But what is a brand? Harry Beckwith
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