Question

Tiffany's markets its exclusive jewelry and gifts to high-income individuals interested in high-quality products and a well-known brand name. It uses the same marketing mix to reach this market. Tiffany's uses a(n) ______ strategy.

a) undifferentiated
b) differentiated targeting
c) exclusive targeting
d) heterogeneous
e) concentrated targeting

Answer 1

Tiffany's uses a differentiated targeting strategy to market its exclusive jewelry and gifts to high-income individuals. This approach allows Tiffany's to cater to the specific needs and preferences of their target market and differentiate themselves from competitors.

Step-by-step explanation:

Tiffany's uses a differentiated targeting strategy to market its exclusive jewelry and gifts to high-income individuals. Differentiated targeting involves targeting different segments of the market with unique marketing mixes. In the case of Tiffany's, they are targeting high-income individuals who value high-quality products and a well-known brand name.

By using a differentiated targeting strategy, Tiffany's can cater to the specific needs and preferences of their target market. They can create marketing messages and offerings that are tailored to the desires of high-income individuals, such as emphasizing the exclusivity and luxury of their products.

This approach allows Tiffany's to stand out in the market and differentiate themselves from competitors who may target a broader audience or have a different positioning strategy.