Mass and Niche Markets

Definitions

Mass:   Where a business target their product at the entire market and appeal to all customers

Niche:  Where businesses target a small, specific segment of the market and tailer their products to meet certain needs.

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Mass: Pros and Cons

Pros    

There is a constant customer base

Income is maximised

Allows a reduction of costs through economies of scale

Allows brands to be used to their full effect

 

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Mass Pros and Cons

Cons

Lower quality product

Heacy advertising costs

Higher development costs

Harder to chagne to customer needs

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