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  • Business IG Section 3.1.3 Concepts of Niche and Mass Marketing

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    Juné Marais
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    Niche marketing involves developing products for a small market segment, while mass marketing sells the same products to the whole market. Niche marketing businesses often sell high-priced, high-status goods to a limited customer base, whereas mass marketing aims to sell standardized products to as many customers as possible but is becoming less popular. Both approaches have benefits and limitations depending on the business and product.

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    Business IG Section 3.1.3 Concepts of Niche and mass marketing

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    Niche marketing involves developing products for a small market segment, while mass marketing sells the same products to the whole market. Niche marketing businesses often sell high-priced, high-status goods to a limited customer base, whereas mass marketing aims to sell standardized products to as many customers as possible but is becoming less popular. Both approaches have benefits and limitations depending on the business and product.

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    14 views5 pages

    Business IG Section 3.1.3 Concepts of Niche and Mass Marketing

    Uploaded by

    Juné Marais
    Niche marketing involves developing products for a small market segment, while mass marketing sells the same products to the whole market. Niche marketing businesses often sell high-priced, high-status goods to a limited customer base, whereas mass marketing aims to sell standardized products to as many customers as possible but is becoming less popular. Both approaches have benefits and limitations depending on the business and product.

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    of 5

    BUSINESS IG:

    SECTION 3.1.3 CONCEPTS OF NICHE MARKETING AND MASS


    MARKETING
    NICHE MARKETING AND MASS MARKETING:

    • NICHE MARKETING; DEVELOPING PRODUCTS FOR A SMALL SEGMENT OF THE


    MARKET
    • A BUSINESS THAT SUPPLIES HAND-TAILORED SUITS IS PART OF THE MUCH
    LARGER MARKET FOR MEN’S CLOTHING.
    • BUSINESSES IN A NICHE MARKET OFTEN SELL HIGH PRICED AND HIGH-
    STATUS GOODS.
    WHAT IS MASS MARKETING:

    • MASS MARKETING; SELLING THE SAME PRODUCTS TO THE WHOLE MARKET.


    • THE OPPOSITE OF NICHE MARKETING, IS MASS MARKETING.
    • MASS MARKETING IS WHERE A BUSINESS SELLS THE SAME PRODUCT TO THE
    WHOLE MARKET. THIS TYPE OF MARKETING IS LESS POPULAR THAN IT USED
    TO BE.
    BENEFITS AND LIMITATIONS OF NICHE
    MARKETING
    BENEFITS AND LIMITATIONS OF MASS
    MARKETING:

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