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.
Your target audience refers to the specific group of consumers most likely to want your product or service, and therefore, the group of people who should see your ad campaigns.
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.
The distinction between target audience vs target market The target market is defined as the whole group of people that a brand wants to sell to. In contrast, the target audience is much narrower; it’s a particular group of individuals the company expects to buy the product.
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 4 Types of Audience Friendly. Your purpose: reinforcing their beliefs. Apathetic. Your purpose is to first to convince them that it matters for them. Uninformed. Your requirement is to educate before you can begin to propose a course of action . Hostile. You purpose is to respect them and their viewpoint.
Three types of audiences are the “lay” audience , the “managerial” audience , and the “experts.” The “lay” audience has no special or expert knowledge.
The three activities of a successful targeting strategy that allows you to accomplish this are segmentation , targeting and positioning , typically referred to as STP.
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 .
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.
KFC targets families and young consumers which means positioning the products to “three generation” from middle and upper middle income segments. Against competitors KFC positions itself with high quality, hygienic and affordable fast food products in an assortment of complete meals.
A target market refers to a group of potential customers to whom a company wants to sell its products and services. This group also includes specific customers to whom a company directs its marketing efforts. A target market is one part of the total market for a good or service.