This section contains 1,102 words (approx. 4 pages at 300 words per page) |
Mass marketing is a marketing approach in which the marketer addresses all segments of the market as though they are the same. The approach results in a single marketing plan with the same mix of product, price, promotion, and place strategies for the entire market.
The appeal of mass marketing is in the potential for higher total profits. Companies that employ the system expect the larger profit to result from (1) expanded volume through lower prices and (2) reduced costs through economies of scale made possible by the increased volume. In order for the system to work, however, certain conditions must exist. One is that the product must have broad appeal and a few features that distinguish it from competing products. Another is that it must lend itself to mass production. In addition, the opportunity must exist, and the marketer must have the ability to communicate and distribute...
This section contains 1,102 words (approx. 4 pages at 300 words per page) |