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    1°mass Marketing Vs Targeted Marketing

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    1°mass Marketing Vs Targeted Marketing

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    4 views7 pages

    1°mass Marketing Vs Targeted Marketing

    Uploaded by

    habzhouda0

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    1°Mass Marketing vs Targeted Marketing

    The simple explanation to define the difference between targeted and


    mass marketing is that mass marketing tries to reach as many people
    as possible, while targeted marketing attempts to reach a specifically
    defined and profiled audience. Both of these methods can be an
    effective route to market and can drive leads and sales for a business.

    2°Difference between Target marketing and Mass


    Marketing
     Mass marketing is more expensive than Target marketing
     It targets everyone even those that may not need the products while
    niche marketing is only targeted at those that may need it
     Mass marketing produces fast results compared to niche
    marketing
     Target marketing requires time to develop which includes a custom
    strategy for the target market segment
     It is easier to measure the success of target marketing compared to
    the mass marketing
    Advantages of Mass Marketing
    It reaches a wide range of audiences
    Maximum product/services exposure
    It reaches a wide range of audience

    Disadvantages of Mass marketing


    It is not cost effective, It is expensive to run as you will need to reach a wide
    range of audiences
    It is hard to measure its effectiveness
    Profit margin is usually low
    It requires a lot of manpower

    Advantages of Target marketing


    Target marketing is cheaper and more affordable
    It offers a great profit margin
    It offers a better chance for leads
    It’s easy to build loyal and returning customers because this marketing is
    custom made for them

    Disadvantages of Target Marketing


    It often takes time to see the result
    it requires lots of planning and strategy to determine the target market

    Segmentation is one of the most important processes in target marketing as it


    allows easy breaking down the target audience. This includes-
    1. Age
    2. Gender
    3. Educational qualification
    4. Marital Status
    4. Income Level
    5. Religion
    6. Location
    7. Economic Class
    8. Occupation
    9. Ethnic Background
    10. Lifestyle
    11. Interest, etc.
    The power of Targeting :

    If you know how to create marketing messages that truly relate to your
    target audience, you will achieve higher conversion rates, and build a more
    powerful brand.

    Targeted advertisements are, on average, almost twice as effective as non-


    targeted ads.

    BY FOCUSING ON THE TAGET MARKET IS IMPORTANT FOR


    SEVERAL REASONS
     MARKETING EFFICIENCY

     UNDERSTANDING NEEDS AND WHANTS

     PRODUCT DIFFERNCIATION

    How to define your taget market

     Step 1: Identify the Key Benefit that Your Business Provides

    What problem do you solve?

    What need do you meet?

    And what desire do you fulfil?

     Step 2: Profile Your Target Market


     Step 3: Stay Objective

     Step 4: Consider niche markets

     Step 5: Evaluate your competition

    Then you must be able to answer this question:

    Why am I uniquely placed to solve the problem?

    If you are unable to answer the question, you may have the wrong target
    market or the wrong offering. In this case, more work will need to be done
    before you start targeting your potential customers.

    Clearly defined target markets and target audiences are vital to the
    long-term success of any business.

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