Mass Marketing – Marketing strategy for all customers
What is Mass Marketing? What are its benefits and limitations? What Mass Marketing can be applied to your business today? Let’s find out with CleverAds!
1. What is Mass Marketing?
Mass Marketing or Mass Marketing is a marketing strategy where the business’s target audience is all customers instead of choosing a separate set of customers.
Businesses will not consider the differentiating factors of market segments or customer characteristics but only focus on marketing design that attracts as much of the market as possible.
Mass marketing appears everywhere around us. We can easily recognize them through billboards, advertisements in print or television, radio leaflets, catalogues, and brochures – the media have a wide spread and influence, large and non-selective.
Such mass marketing helps businesses reach target customers efficiently. But it loses its optimality for this client file. In other words, if you don’t use Mass Marketing properly, the brand’s marketing will become blurred and ineffective.
Coca-Cola is a prime example of Mass Marketing. Coca-Cola’s TV commercials are designed to appeal to everyone. It will be easy to see that the company’s advertising characters have very diverse ages, occupations and personalities. Coca-Cola is a product that spans different business niches. And Coca-Cola’s Mass marketing campaign is always very effective and successful.
Mass marketing is frequently used in consumer goods, health services, and law.
2. Benefits and limitations of Mass Marketing
Each type of marketing will have definite benefits and limitations. Similarly, Mass Marketing also brings satisfaction and restriction for businesses.
About benefits
Reach the maximum target of customers
Mass marketing allows businesses to reach the maximum number of customers. All marketing messages spread through the mass media can reach millions of audiences quickly after just one broadcast or posting.
Low cost
The work of Mass Marketing helps businesses reach all customers, so the cost per customer file will be less. Besides, mass advertising will cost less than Niche Marketing because business advertising campaigns can run for every segment.
Raise brand awareness
The application of Mass Marketing will increase the awareness of the business brand in public. Mass marketing is distinguished in bringing products to customers as much as possible to increase sales volume and return on investment (ROI). And the follow-up effect of this strategy is the enhanced brand awareness of customers.
Large advertising scale
Because the product is published on high mass media such as television, newspaper, radio, etc., the product will grow on a large scale. Consumers can hear, see and read quickly. It makes it easier to find potential customers for your business.
About restrictions
Inability to adjust, adapt
Because it is mass, publishing this will not be able to target a definite customer niche. In other words, customers as businesses will lose the opportunity to advertise specifically to target customers. In addition, it will take more work to adjust the product to suit the tastes and requirements of consumers.
Low conversion rate
Advertising is aimed at all consumers, so creating consistency in product selection and purchase isn’t easy. Products that use Mass Marketing often use a pricing strategy. Therefore, if the customer finds a consequence of a lower or equal price but higher value, the possibility of product abandonment is very high. Thus, the conversion rate of business customers will not be increased.
Intense competitive pressure
Because the advertising message in the market is so broad, it will create opportunities for competitors to target customers directly. In other words, when Company A aims to reach as many people as possible, Company B has the opportunity to address the specific needs of its customers.
3. Mass Marketing Strategies
3.1. Market penetration strategy
Businesses can choose a market penetration strategy to reach target customers, increase business market share, and launch new products.
There are three ways to implement this strategy including:
- Encourage customers to buy more.
- Turn your competitors’ customers into your own.
- Target people who belong to the current customer file but are psychologically fluctuating.
3.2. Market expansion
This strategy is used when the company’s current market is saturated, and further expansion is necessary. Businesses will have to find new markets to enter and find potential customers. Many companies use this strategy. Examples: Samsung, Vinamilk, Vingroup.
Product development strategy
A business will introduce a new product into an existing or new market by doing constant market research, thorough testing, and detailed product concept planning. It is a highly innovative strategy for the product development department.
Diversification strategy
Diversification is used when potential opportunities are found outside the current market. At the same time, the product being built must also be suitable for the business and the new market.
4. Distinguish Mass Marketing and Niche Marketing
Mass Marketing:
- Target:
- Attract a large number of customers for your products and services
- Increase market share, revenue
- Increase brand awareness
- Object:
- Customers are general and have price sensitivity.
Niche Marketing:
- Target:
- Increase revenue through niche market
- Dominate the niche market
- Increase loyal customers, minimize competitors
- Object:
- A group of customers with unique characteristics will use the product for a long time.
5. Conclusion on Mass Marketing
Mass Marketing exists around us, from signs and leaflets to television and radio advertisements. Mass marketing helps businesses reach customers with the maximum scale. With Mass, Marketing business can fulfil their goals of increasing brand awareness, optimizing costs and increasing revenue.
