Targeted Marketing versus Mass Marketing – Principles of Marketing
When you think of your marketing strategy you can: 1) Target everyone one ( Mass) with the same message. 2) Break your customer's into segments based on . Mass marketing is a market strategy in which a firm decides to ignore market segment differences and appeal the whole market with one offer or one strategy, . An ample budget provides more options and a greater chance for success. Two common big-budget strategies are mass marketing and differentiated marketing.
Toothpaste isn't made specially for one consumer and it is sold in huge quantities.
A company or individual who manufactures toothpaste wishes to get more people to buy their particular brand over another. The goal is when a consumer has the option to select a tube of toothpaste that the consumer would remember the product which was marketed. Mass marketing is the opposite of niche marketingwhere a product is made specially for one person or a group of persons. Other products of mass marketing are furnitureartworkautomobilesresidential communities, fizzy drinks and personal computers.BUILDING SUSTAINABLE RELATIONSHIPS THAT BRING BRANDS AND PEOPLE CLOSER - Mark Morin - TEDxLaval
Resources of mass marketing provide cost-effective marketing solutions for small and micro businesses, including start-ups. Even "products" like politicians and services from professions such as lawchiropractic and medicineare subject to mass marketing.
What is the difference between Mass Marketing and Segment Marketing?
Questions of quality[ edit ] To further increase profits, mass marketed products touted as " durable goods " are often made of substandard material, so that they deteriorate prematurely. This practice is called planned obsolescence. Not only does this lower production costs, but it ensures future sales opportunities by preventing the market from becoming saturated with high-quality, long-lasting goods.
The forces of a free market tend to preclude the sale of substandard staples, while disposability, technological innovations, and a culture of collection all facilitate planned obsolescence. Many mass marketed items are considered staples. Relationship marketing focuses on developing long-lasting relationships with clients to secure sales well into the future.
Some relationship marketing strategies including branding, customer service training, community and media relations, social media, newsletters, blogs, referral programs and frequent buyer incentives. These marketing efforts are investments in the promise of long-term sales.
Face-to-face interaction is less frequent, and many more services and product transactions are occurring behind a computer screen. With a few clicks on their keyboards, clients can access a world of information that influences their purchase decisions, making the client relationship more important than ever. While the Internet has reduced face time with clients, it has provided more and different avenues to develop relationships with current and prospective clients. Your own personal experience and talking to would-be buyers is an important part of the puzzle.
Go where you think would-be buyers go—restaurants, malls, gyms, subways, grocery stores, daycare centers, and offices—and ask questions to find out what they do during the day, what they talk about, what products or services do you see them using, and do they seem to be having an enjoyable experience when using those products or are they frustrated?
Healthy Choice frozen dinners were conceived as a result of questioning potential customers. Two years after the Healthy Choice line was launched, it controlled 10 percent of the frozen-dinner market by concentrating on the health conscious segment Birchall, Once you decide on a particular salon, you have to find it and explain to the new hairdresser how you want your hair cut and hope he or she gets it right. You also have to figure out what type of credit cards the new salon will accept and whether tips can be put on your credit card.
InBackroads, a California company focused on adventure-based travel increased its revenues by creating a personalized marketing campaign for people who had done business with them in the past. In addition to studying their buying patterns, firms also try to get a better understanding of their customers by surveying them or hiring marketing research firms to do so or by utilizing loyalty programs.
A good source for finding marketing research companies is http: For example, if you sign up to become a frequent flier with a certain airline, the airline will likely ask you a number of questions about your likes and dislikes.
This information will then be entered into a customer relationship management CRM system, and you might be e-mailed special deals based on the routes you tend to fly.
British Airways goes so far as to track the magazines its most elite fliers like to read so the publications are available to them on its planes.
Difference Between Mass Marketing and Differentiated Marketing | badz.info
Twitter is another way companies are keeping in touch with their customers and boosting their revenues. Many firms, even small ones, are using Facebook to develop closer relationships with their customers.
Hansen Cakes, a Beverly Hills California bakery, has about two thousand customers who visit its Facebook page.
Consequently, you will want to interact with some customers more than others. The knife cuts both ways, though.
Difference Between Mass Marketing and Differentiated Marketing
Not all firms are equal in the minds of consumers, who will choose to do business with some companies rather than others. To consumers, market segmentation means: The book described what life would be like after mass marketing. We would all be able to get exactly what we want from sellers, and our relationships with them would be collaborative, rather than adversarial. Are we there yet?