a. Broad coverage strategies
These strategies aim to provide for the needs of all or most of the segments in the market. This can be achieved either by providing a general product line of a ‘one-size-fits-all’ type, or by providing a product line consisting of a variety of related products that are more-or-less customized for each segment. An example of the first approach is the strategy used by most commercial banks for attracting bank depositors, at least until recently. Little distinction was made according to age, income, occupation or frequency of cheque-writing. The main attraction of this approach is that it allows more standardization, and therefore leads to greater economies of scale.