Explain the concept of mass marketing.
Mass marketing strategy is the opposite of market segmentation strategy. Here all the buyers are considered as having homogeneous wants as against the market segmentation strategy which looks for the differences in the wants of the buyers. Under mass marketing, single product with single marketing mix and marketing program is used to reach the customers. The entire market is considered similar and single marketing mix is used to reach the market.
This strategy is useful as it is cost effective. Dealing in a single product reduces the cost of production, transportation cost and inventory carrying cost. It also provides administrative ease and convenience, as there is a single marketing program. However, in present day market conditions, where customers are very choosy, each going for different attribute of a product, this strategy is not very effective and is not used by organisations as such.
As against mass marketing, segmentation strategy aims at the differences in the wants of the buyers. No two buyers are having similar wants and therefore to serve them with single product is not correct. This strategy aims at dividing the market into various segments and sub-segments on the basis of customer wants and interest.
Markets are divided into groups having similar wants and interest; and different products and marketing mix is used to reach to the customers in different segments and groups. This strategy is beneficial as it meets the different needs of the customers. Organisation can serve the markets more effectively.
