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Mass marketing and Targeted marketing - Essay Example
A mass marketing strategy is a business strategy that is aimed at reaching a wide and diverse market without any major emphasis on a specific segment. (Jakacki 2001). This strategy assumes that consumption patterns of consumers are almost similar and can be satisfied by one marketing mix strategy.
It includes Radio, Television, Newspapers and even the internet.
According to Jakacki (2001), some of the products that are suited for this marketing strategy include drinking juice, furniture, automobiles as well as mobile phones. An example of a company that has used this strategy with a good measure of success is Coca Cola. Other food manufactures such as Nestle and electronics giants like Sony have also used this strategy to reach a world wide market. The major advantage of this strategy is economies of scale since production is in large quantities.
At the other opposite end of mass marketing is targeted marketing or better still Niche marketing. Targeted marketing is aimed at a given market segment. A segment in this case may be a given geographic area, demographic profile such as the youth or behavioral segment based on variables such as income status or level of brand loyalty. There has been a shift from mass marketing to targeted marketing occasioned by a number of factors. Changing consumer patterns, the need to position products differently from competitors and the importance of being an expert in a given area.
Jakacki (2001) says that today's consumers have diverse needs. For instance there is a segment that is keen on losing weight, and another one which wants to avoid sugar. ...