Marketing, Competition And The Customer: Concepts Of Niche Marketing And Mass Marketing (Copy)
Cheat Sheet: 3.1.3 Niche Marketing vs. Mass Marketing
Niche Marketing
| Aspect | Explanation | Example | Benefits | Limitations |
|---|---|---|---|---|
| Definition | Targets a small, specific segment of the market | Luxury watches, vegan cosmetics | Less competition, strong customer loyalty, higher prices possible | Small market size, limited growth, risky if demand changes |
Written and Compiled By Sir Hunain Zia, World Record Holder With 154 Total A Grades, 7 Distinctions and 11 World Records For Educate A Change O Level And IGCSE Business Studies Full Scale Course
Mass Marketing
| Aspect | Explanation | Example | Benefits | Limitations |
|---|---|---|---|---|
| Definition | Targets the whole market with one product | Coca-Cola, toothpaste, petrol | Economies of scale, large sales volume, strong brand recognition | High competition, expensive promotion, harder to satisfy all customers |
Comparison Table
| Feature | Niche | Mass |
|---|---|---|
| Market size | Small | Large |
| Competition | Low | High |
| Prices | Higher (premium) | Lower (standardised) |
| Customer loyalty | Strong | Weaker |
| Risk | Higher (depends on small group) | Lower (spread across many) |
Written and Compiled By Sir Hunain Zia, World Record Holder With 154 Total A Grades, 7 Distinctions and 11 World Records For Educate A Change O Level And IGCSE Business Studies Full Scale Course
Quick Revision Bullets
- Niche = small, specialised, less competition but risky
- Mass = large scale, high sales, economies of scale but high competition
- Choice depends on product type, resources, market conditions
Written and Compiled By Sir Hunain Zia, World Record Holder With 154 Total A Grades, 7 Distinctions and 11 World Records For Educate A Change O Level And IGCSE Business Studies Full Scale Course