What characterizes a depth strategy in marketing?

A depth strategy in marketing is characterized by serving one segment with multiple offerings. This approach allows a business to cater specifically to the needs and preferences of a particular target market by providing a variety of products or services that fulfill different aspects or requirements within that segment. By focusing on one specific segment, the company can leverage its understanding of that market to develop tailored approaches that enhance customer satisfaction, build brand loyalty, and potentially increase the market share within that niche.

This strategy contrasts with the idea of focusing on multiple market segments with a single product, which could lead to a dilution of the product's appeal and relevance. Instead, the depth strategy emphasizes specialization and variety within a single customer segment, thus enabling more effective marketing strategies and ultimately leading to better customer retention and stronger brand identity within that segment.