Tinfol Inc. manufactured perfumes and makeup for women. Its products catered to all age groups. Because of the entry of other players into the market, the market share of Tinfol registered a drastic fall. Hence, Tinfol decided to change its strategy and segmented its consumers into categories such as middle-aged moms, young and fashion-forward consumers, and baby boomers. It offered products fulfilling the needs of each of the segments. It also set up a website where customers could mix more than 20 varieties of perfumes to create a personalized scent.
-The entry of other players in the market persuaded Tinfol to divide its customer base into a variety of segments.The products offered to each of the segments varied.This is an example of a(n):

Question

Quizplus · Accepted Answer

The strategy of dividing the customer base into segments and offering different products to each segment is known as a differentiated targeting strategy. This allows the company to better meet the specific needs and preferences of each customer segment. Tinfol's adoption of this strategy is a response to the competition and the need to regain market share. The other options are not applicable to this scenario - ideal positioning strategy refers to positioning a product as the ideal solution for a specific need, geodemographic targeting strategy uses geographic and demographic data to target customers, mass customization strategy involves offering customized products to a large number of customers, and undifferentiated customization strategy is not a recognized marketing strategy.