Final answer:
The differentiated global targeting strategy offers multiple market mix offerings to cater to two or more distinct market segments, leveraging product differentiation in monopolistic competition. The correct option is B.
Step-by-step explanation:
The global targeting strategy that involves targeting two or more distinct market segments with multiple market mix offerings is known as the differentiated strategy. This approach allows a company to serve several segments, each with bespoke products, marketing strategies, or promotional tactics. It contrasts with the concentrated strategy, which focuses on a single market segment, and the undifferentiated strategy, where a single market offering is presented to a broad audience without significant segmentation.
Product differentiation and monopolistic competition are key concepts tied to the differentiated strategy. The diversity in offerings—such as different styles, flavors, and characteristics—enables businesses to address the unique needs of different customer segments. The differentiated strategy leverages this variety to meet the perceived demands across various niches in the marketplace.
Some argue that the level of product variety in market-oriented economies may exceed what is socially necessary, asserting that the costs of creating and marketing such a variety could be reduced, which would lead to products that are less costly for consumers. However, proponents of market differentiation and advertising claim these practices bring substantial consumer benefits, as they allow for individual preference satisfaction and competitive markets.