32 CHAPTER 2 UNDERSTANDINGANDAPPROACHINGTHEMARKET
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AD2.2 Anexampleofaninstitutionalad.
organizationhascertainstrengthsandweaknesses,whichtargetgroupwithinthemarket
shouldI select?Theprocessis depicted inFigure2.1
Fora particularproduct,marketingorganizationsmightfollowanundifferentiated,
segmentation,orcombinationapproachtowarda market.Theseconceptsareexplainedin
thefollowingsections.
TheUndifferentiatedMarket(MarketAggregation)
Theundifferentiatedapproachoccurswhenthemarketerignorestheapparentdifferences
thatexist withinthemarketandusesa marketingstrategythatisintendedtoappealtoas
