Differences Between Mass Marketing and Niche Marketing Essay
Differences between mass marketing and niche marketing Niche marketing and mass marketing have many differences. These are: 1. Mass marketing has to do with selling ordinary things to very large numbers of people at quite cheap prices. Businesses can get high volume sales but at a fairly low profit margin meaning that there is little difference between what it costs to make the product and what the business can sell for it. But in Niche marketing the marketers serve specialist consumers and this can give high profit margins.
Small businesses are especially suited to niche marketing. 2. Niche marketing targets a smaller market in which there is a particular focus on which group the firm wishes to concentrate on. In most cases, niche marketing focuses on markets that are not reached by mainstream providers. On the other hand, mass marketing deals with big numbers and an even bigger community. If a mass marketer targets parents, a niche marketer will go smaller, targeting the more specific group of single parents. 3.
In mass marketing, the focus is normally on attracting as many customers as possible. While in niche marketing it is all about getting that particular group of society to like your product. 4. Mass marketing uses expensive forms of media to reach out to the people. Mass marketing firms spend a lot of money on advertising on radio and television. As for niche marketing their budget is not wide enough to support mainstream media advertising. The most common way of advertising for them is through the internet.
Examples would be through e-mails. They could also use magazine advertising but this would be on a very small scale such as trade journals. 5. Mass marketers focus on high sales at low prices while niche marketers focus on high sales at high prices. But most times the result is low sales at very high prices. In Niche marketing the product is tailor-made for customers while in Mass marketing the product is for the general public. 6. Mass marketing focuses on producing goods which aren’t of very high quality and don’t last very long.
In doing this they have secured a place in the market meaning that customers who buy their products will continually but them because they are replacing the old ones which they have. But in niche marketing the marketers focus on producing high-quality, long-lasting products which result in the product being expensive. 7. In niche marketing the company or business usually has one product in which they are marketing to that particular segment while in mass marketing the business markets different products to different groups in society.