What is Mass Marketing? – Importance of Mass Marketing
Mass Marketing is the type of marketing in which products are manufactured and distributed in the same way to all customers.
It is that marketing strategy in which a firm decides to ignore market segment difference & appeal to the whole market with some offer or some strategy.
It refers to market for goods produced on a large scale for a significant number of end consumer. In other words, considering the group of people as one, and understand their collective tastes, lifestyle and demographics of that group.
Importance of Mass Marketing
Ability to generate customers is what makes a company happy
Through mass marketing company can involve large range of customers worldwide, hence leading to success of a company
- Saves marketing costs – The brands are able to save a good amount of their cost because in this type of marketing they follow one-size-fits-all approach which means they treat everyone as a same their preferences as same and then works on marketing strategies
- High sales – Mass marketing is done a large level, which means it covers the large number audience, which results into high number of sales. Thus, the company is likely to enjoy a high volume of sales.
- Fewer risks in terms of taste change – Mass marketing works on not to give importance to single entity only, and focus on the larger group. It results in no impact on sales because change in taste of few people does not affect the Mass.
- Economic – Due to high number of production on the basis of high potential customer base, the company’s average production costs are lower
Why mass marketing?
Mass marketing focuses on the highest potential customers and ignores the particular person’s or group’s needs and demographic differences. This kind of campaigns or marketing methods focuses on higher sales volume at economical prices and as a result obtains maximum exposure for the product or services.
- Awareness – This is the first and foremost step that a marketer should lead a customer to. In this step people or the target audience gets to know about the product/service of the company. Potential customers are drawn into this stage. The whole crux for this step is to generate lead.
- Interest – After generating leads, customers should be moved to interest stage, where they learn about the company and its products.
- Consideration – this stage is all about converting leads into potential buyers, by engaging them with the company, or it’s product. After this step audience is converted to prospective customers.
- Evaluation – In this step customers evaluate all the information about the product or service and decide whether to buy a brand’s product or services.
- Conversion – This is the final stage of marketing where customer has gained all the information, evaluated it and now he /she decides to become the customer of the brand or not
How to choose the right marketing strategy?
Marketing strategy is very crucial to the success of any company. Every individual & market needs the right introduction & information on marketing strategy
- Identify your business goals
- State your marketing goals
- Research your market
- Profile of your potential customer
- Profile your competitors
- Develop strategies to support your marketing goals
- Use 7R’s of marketing –
- Test your ideas
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