Munch More is employing a differentiated marketing strategy by offering both fried and baked potato wafers to appeal to different consumer segments, aligning with the principle of product differentiation in monopolistic competition.
Munch More's approach of providing two different variants of potato wafers, one fried for taste enthusiasts and one baked for health-conscious consumers, signifies the company is engaging in a differentiated marketing strategy. This strategy involves a firm offering various versions of a product to cater to multiple market segments, optimizing their reach by addressing different consumer preferences.
In the case of Munch More, the variety in their product line aims to capture a broader market by appealing to diverse tastes and health considerations, which mirrors the economic principle of monopolistic competition where product differentiation is key to attracting a range of customers.
In contrast, a concentrated marketing strategy would involve focusing on a single niche market, while mass marketing would disregard market segments and target the whole market with one product. An analogous marketing strategy is not a recognized term in this context.