There are two forms of advertising but separated by their focus and those are the Product-Based and Customer-Based Marketing Strategies. Product-Based is focusing in all promotions on the items being sold, their availability, and usefulness. Customer-Based on the other hand focuses on a certain segment of the market which the data will determine most interested in the product being offered.
General product based marketing is a strategies used by retail outlets and companies. There are many items are many potential consumers but more targeted techniques are not efficient way to go. Example, if a retailer had a product in a 50 categories and 25 target segments, dozens of different individuals would used to launch at a great expense in order to reach everyone in the market. But instead of that, they choose to market their very selection of goods to the general public rather than in a specific type of consumers. So, they are more targeting on the masses than a high-class individual.
Specific product based marketing relies on the strength of the product which the company produced, the features of each items, price point or other that stand out to the factors that can separate it from the rest of the pack. The example of it is if the company made widgets or items that lasted twice or thrice as long as others on the market, the durability and the quality that would be the key for the consumer to get it. This strategy is adaptable but it is always based on what one product has to offer.
Specific customer based marketing is the one that bypass the specific products and the retail selection in favor of addressing the person behind every product purchase. They will find the right consumers for you based on the brand manufactures or sell high-end, specialized or products with the otherwise limited marketability. This type of strategy is more on targeting fine tunes all marketing products to the market segment with the most likely return of investment or ROI.
If you create product-based strategy, they are more focuses on SWOT Analysis. Based on their analysis the company has competitive strengths and weaknesses and even the opportunities and also the threats presented by competitors which is very usual in business world.
On the other hand, creating customer-based strategy this initializes the potential of the market to divide into various segments based on the criteria that are useful and meaningful to the company’s brand. The company then choose one or more specific segments to target and crafts the “four P’s” – product, price, promotions and place.