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What is the difference between a target market and a mass market?
Wiki User
∙ 12y ago
While advertising to the masses does get the message across to many people, it does not focus on who your buyers are and where they are. It's like the difference between shadow boxing vs live boxing. So know your customers and focus on their similarities: how they came to your business, what they do for a living, and what types of people use your products or services.
Wiki User
∙ 12y ago
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Difference between mass market and niche market?
Mass market is when business targets general consumers (the majority) in the market with general needs. Niche market is when business targets a small group of consumers with specific needs in the market.
Whats the difference between the shotgun approach to marketing efforts and the rifle approach to marketing efforts?
The shotgun theory simply means marketing to the masses, rather than selecting a specific target market. An example of shotgun marketing would be to simply place and advert on primetime television, without focussing on any specific audience (target market). The rifle theory refers to mroe specific target marketing where specific audiences/customers are focussed upon. For example a company produces a podcast (advert for ipods) aimed at teenagers. Not only will the message be relevant to this specific audience but so is the medium. So it is basically mass marketing and target marketing.
What is the difference between market targeting and target marketing?
Difference between Target Marketing and Market TargetingThe concept of target marketing is the refinement of the basic philosophy of marketing. It is an attempt by companies to relate the characteristics or attributes of the goods and services they provide more closely to customer requirements. Target market is defined as “A set of buyers sharing common needs or characteristics that the company decide to serve.” When mass production techniques were first introduced, out of necessity they imposed a large degree of uniformity upon customers. However such techniques also brought improvement in most people’s standard of living. Many products that were considered luxuries of the rich became available to the ordinary people at affordable price. But he consumers wanted a particular type of product with specific characteristics that suited their requirements more accurately.By targeting to specific groups of consumers or ‘market segments’, instead of attempting to serve the demand requirements of an entire population for a particular product category, the firm is able to develop more effective marketing programs.The process of target marketing needs to be carried out systematically and scientifically to be effective. The process of target marketing has three distinct stages:1- Market Segmentation2- Market Targeting3- Market PositioningMarket Targeting: - Market targeting is not to be confused with the overall process of target marketing. Market targeting is the process whereby one or more of the market segments previously identified are evaluated and selected. The market targeting is defined as “The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.” Market segmentation is only the first essential step in the overall process of target marketing. The firm also has to evaluate each segment and decide how many of the segment to serve. We need not only an indication of the size of the segment, but also estimates of likely turnover and profit and an indication of where the segment is going.For example, the overall demand for cigarettes in the U.K. is declining, whereas the demand for ‘low –tar’ cigarettes is on the increase as consumers switches to less harmful form of smoking. Tobacco companies also exploiting the low-tar segment of the market in reaction to consumers’ change in taste and in order to retain their share of the cigarette market.
Difference between market segmentation and market aggregation?
Hmmm, well market aggregation a.k.a mass marketing or undifferentiated marketing, is simply marketing a product to the largest audience possible this leads to heavy exposure of the brand and product. This also leads to reduced cost in marketing the product. Usually undifferentiated marketed products are simple and seen as neccessities such as toothpaste or toilet paper. The key disadvantage to mass marketed products is that it leaves opportunities for competitiors to set up business and market a product to a individual segmented market, meaning it is more difficult to satisfy the needs and wants of customers in the total market. the key advantage is it operates in a larger market and hence more opportunities. An example would be let's say for toothpaste, toothpaste for sensitive teeth would be segmentation whereas toothpaste for the entire market would be using market aggregation theory. market segmentation is referring in this case to a more niche market or differentiated marketing, it is simply a product which is marketing to a distinct target market. that is the product is marketed to a specific segment of the total market and thus it is more easily tailored to satisfy the needs and wants of the target market. This has a key advantage to satisfy the customers but has the disadvantage of a smaller market and hence less opportunities. An example would be for computers, computers which we're sold in the earlier days were standard and sold to the entire market with the exact specifications, computers today sold by certain vendors are sold with customized specifications. Btw, i ain't in the business field, happen to be a nanotech student studyin for a material management test
Difference between skimming pricing and penetration pricing?
skimming pricing is for new or innovative product, the price at the begining is high and customers are not price sensitive. penetration pricing set a low price at the begining to gain a mass market, and the price will rise later. The customers are price sensitive.
Difference between mass market and niche market?
Mass market is when business targets general consumers (the majority) in the market with general needs. Niche market is when business targets a small group of consumers with specific needs in the market.
What is the difference between Aston's mass spectrograph and Dempster's mass spectrometer?
what is difference between mass spectrograph and mass spectrum
Who is Oakley Sunglasses target market?
Oakleys Target Audience will have to be considerd a mass market as they are trying to appeal to everyone from sports,old and young people, to casual use.
What is the difference between inertia and mass?
The difference between inertia and mass is that inertia is the resistance to move. And mass is the amount of matter that something is made of.
What is the difference between mass and capacity?
I do not know the answer.The difference between mass and capacity is that capacity is how much something can hold and mass is the weight of an object.
What is the difference between rest mass and effective mass of electron?
mass
What is the difference between corporate communication and mass communication?
Simply put, the target of Corporate Communications is to build the image of the company itself. On the other hand, Mass Communication typically has the target of introducing/selling a product to the target consumers. Corporate Communication frequently takes the form of a more serious/subtle/suave approach, while Mass Communications tend to highlight the brand values and benefits to the consumer.
Who is wal-marts target market?
they are a mass marketing organisation, with such brtand loyalty due to their low prices. They have been able to obtain these low prices as they are the largest company by revenue in the world and have been able to get the best economies of scale. They target the whole "market" as they are a mass-marketing organisation
What is a major significant difference between the sun and Jupiter?
The difference in mass
What is the difference between gross mass net mass?
you bad person you bad person
What is the difference between mass on earth and mass in space?
There is no difference between mass anywhere in the universe; it will always be a specific type of bonding between atoms anywhere it goes. However, weight may change due to different gravities on different planets
What is the mass defect?
If you add the exact mass of the protons, neutrons, and electrons in an atom you do not get the exact atomic mass of the isotope. The diference is called the mass defect. The difference between the mass of the atomic nucleus and the sum of the masses of the particles within the nucleus is known as the mass defect.
