Final answer:
Undifferentiated marketing is the approach that targets the entire market based on common consumer needs, offering a singular product or service to everyone.
Step-by-step explanation:
Undifferentiated marketing is the approach where firms target a whole market based on common consumer needs. It involves developing a single marketing mix and message for all consumers, without any segmentation or differentiation.
The approach where firms target the whole market based on common consumer needs is known as undifferentiated marketing. This strategy ignores the segment differences and targets the market as a whole, offering one product or service to everyone. Businesses that utilize undifferentiated marketing typically focus on a broad audience with advertising messages highlighting what is common in needs or wants, rather than tailored individual messages for specific segments, like demographic segmentation, geographic segmentation, or micromarketing.