A mass market is a general population which can be targeted at wide for the sales and marketing of a product. To explain a mass market, it can simply be compared with a niche market. A niche market is one where a very small market segment exists. Example – Tractors are a niche market. They are applicable only to agricultural lands.
But a mass market on the other hand is much larger and has diverse demographics. For example – Automobiles – cars and two wheelers, usually target the mass markets with heterogeneous ages, locations and preferences. . However these mass markets can be further diversified into smaller segments. Products which target a mass market generally vary their promotion strategies according to the market.
Example – An automobile company or a telecom company targets a mass market. However each individual might have a different preference for automobiles or telecom service providers. Does within the mass market, there exist individual segments.
A smart marketer will try to promote his product to the biggest chunk of the mass market. For example – In soft drinks, Pepsi is targeting the youth, but on the other hand coke is targeting whole families through defining values. Thus coke has a bigger market and it is a more wider recognized brand when compared to Pepsi.
Summarizing the above information a mass market can defined.
Definition of mass market – A mass market can be defined as a term used for the largest group of consumers for a specified products. A mass market is broad in nature and is not categorized by demographics. Mass market is the extreme opposite of niche markets.
Examples of Products which target a Mass Market – Coke, Pepsi, General Motors (An automobile for all ages), and many others.
I hope the article helped you understand mass markets. Are there any products which come in your mind and which target the masses? Do share with me.
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