What is it the difference between segmented marketing and mass marketing ? Mass marketing for everyone, but segmented make you go to the specialized. Mass marketing : To market your product to all customers without any change like: Chipsy or Pepsi, it can be more effective with products that all people would buy.
The simple explanation to define the difference between targeted and mass marketing is that mass marketing tries to reach as many people as possible, while targeted marketing attempts to reach a specifically defined and profiled audience .
This kind of marketing has a smaller reach, but produces better and more accurate results than mass marketing , because it is designed around specific consumer needs and preferences.
Mass marketing is a market strategy in which a firm decides to ignore market segment differences and appeal the whole market with one offer or one strategy, which supports the idea of broadcasting a message that will reach the largest number of people possible.
Examples of mass – market retailers include big-box stores such as Target, Sam’s Club, and Best Buy, as well as brands like Levi Strauss and Gap, and e-retailers like Amazon. Supermarket, drugstore, mass merchandise, and warehouse chains are all considered mass – market retailers.
The advantages of mass marketing Because companies that utilize mass marketing are pushing their product or service with such force, the production of their product becomes cheaper when compared to companies that produce products for a smaller, more targeted audience. Think of bulk buying at Costco.
Mass marketing is marketing with the intention of selling something to as many people as possible. There’s no requirement for building relationships or bespoke messaging; the focus is on volume sales. Some companies are able to execute marketing strategies that are relevant to a wide audience.
Small businesses often target customers by gender or age. For example , a women’s clothing retailer directs its promotional efforts at women. Conversely, a large and tall men’s shop focuses its marketing efforts on tall and heavier men. Similarly, some small companies market to specific age groups.
A niche market is a segment of a larger market that can be defined by its own unique needs, preferences, or identity that makes it different from the market at large. For example, within the market for women’s shoes are many different segments or niches .
Mass market means you want to service or sell to a large group or audience while target market means you are selling to a small group of audience who are interested in your products or services.
Targeted marketing is far more cost- effective than mass marketing as firms are not wasting time and money marketing to people who will never be a customer. Instead, the target audience is specific consumers who are most likely to become customers.
Multi – segment marketing , therefore, is the process of dividing a target market into multiple segments in order to target each of those segments with a different message or product.
Most organizations utilise the mass media to persuade and reach a wide audience who have different needs but will buy the same product. When Coca Cola treats the overall population market as one large market , it will create a large pool of potential customers who are willing to buy the product.
Mass marketing is most effective when used to advertise products that are considered necessities, products that a large number of people are already guaranteed to be shopping for anyway.
A differentiated marketing strategy is one in which the company decides to provide separate offerings to each different market segment that it targets. It is also called multisegment marketing . Each segment is targeted in a particular way, as the company provides unique benefits to different segments.