Final answer:
Concentrated marketing is the approach used when a company develops one marketing strategy for a single market segment.
Step-by-step explanation:
The approach that is used when a company develops one marketing strategy for a single market segment is concentrated marketing.
In concentrated marketing, a company focuses all its efforts on targeting a specific market segment with a tailored marketing strategy. This approach allows the company to tailor its product, advertising, and promotional activities to the specific needs and preferences of that particular segment.
For example, a luxury car company might develop a marketing strategy specifically targeting high-income individuals who value luxury and prestige. The company would focus on creating high-end, luxurious cars and promoting them through targeted advertising channels that reach this specific market segment.