What are the weaknesses of mass marketing, as opposed to segmented marketing? What advantages does a company gain from market segmentation, as opposed to treating the market as single entity? MASS MARKETING:-
Mass marketing is a market strategy in which firm or industry treat market with single offer or one strategy. In this marketing term wide range of customers and audience are concentrated. As there is no segmentation and focusing concern so large amount of customers are possibly exposed to the product. For example as audience is focused on radio, television and newspapers in which large and broad audience are targeted by the companies and industries towards their product. Mass marketing is the opposite of segmented marketing as it focuses on high sales and low prices. Mass marketing aims is to provide services and products that will appeal to the whole market. Segmented marketing targeted a specific or particular segment of the market for example specialized services or goods with few or no competitors. WEAKNESSES OF MASS MARKETING AS OPPOSED TO SEGMENT MARKETING:- Mass marketing focus to produce one type of goods and services to consumers, it is possible to reduce the level of risk involved in implementing this marketing term by market research although there is always a danger that demand for the product may fall. To determine any risks that may occur, a business must continuously examine the life cycle of their products and to analyze their product portfolios, this should ensure that the business goods continue to satisfy the market. * The high cost of fixed capital costs that are incurred may prevent many businesses from operating a market. * Developing a product that would appeal to a mass market is difficult as it must appeal to all customers. Appealing to individual customers would be very challenging for the business. * Businesses in mass marketing can be defenseless to fluctuations in demand. A decrease in demand would lead to unused spare...
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