Mass market

Mass market is a market for goods produced on a large scale for a group of significant number of end consumers. Mass market is the opposite of the term niche market in that the first focuses on consumers with a wide variety of backgrounds with no identifiable preferences and expectations in a large market segment.[1][2] Traditionally, businesses reach out to the mass market with advertising messages through a variety of media including radio, TV, newspapers and the Web.[3]

Overview

The mass market is the group of end consumers of common household products who are perceived as "average". This group encompasses such a wide variety of people, their need for, uses for, and price point for market offerings may vary greatly. The myriad of customers' needs makes it difficult to target each and every customer in the mass market, via mass marketing.[4][5] Therefore, marketers often subdivide the market into smaller groups, or niches, comprising customers with similar wants, and then target them via niche marketing. Electric and gas utilities, soap, paper towels and gasoline are typical examples of goods for a mass market.[6]

See also

References

  1. ↑ "Macau's Casinos Have Been Relying On VIPs, But The Mass Market Is Crucial To Future Growth". Forbes (magazine). 2018. Retrieved 30 March 2018.
  2. ↑ “Niche Market.” Business: The ultimate resource. (2002). Cambridge, Massachusetts: Perseus Publications:1294.
  3. ↑ "shotgun marketing |". Undifferentiated audience
  4. ↑ "Mass Marketing". 2012. Retrieved 2 May 2012. Business Dictionary
  5. ↑ “Niche Market.” Business: The ultimate resource. (2002). Cambridge, Massachusetts: Perseus Publications:1294.
  6. ↑ Mc Daniel, Carl; F.Hair, Joseph; Lamb, Charles W. (January 14, 2008). Essentials of marketing. p. 224. ISBN 0324656203.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.