Difference Between Niche Marketing and Mass Marketing
Niche Marketing: Niche marketing is defined as a marketing strategy that is proposed to catch moderately numbered buyers in the market. This type of marketing includes the strategy to target a specified market which means that the marketer is aware of the group in which he has to target for its product. The word niche can be defined as a special area of demand for a product or a service. For example, Wholefoods is a food store that specifically targets organic food customers. So it is clear that they want to target the customers who want organic food. A specific part of consumers is targeted in this type.
Mass Marketing: Mass marketing is defined as a marketing strategy in which the company tries to capture a large audience for its services. They don’t restrict themselves while marketing the product and focus on capturing the whole customer base. the main objective behind this type of marketing is to find the supreme number of potential customers for their needs. For example, Coca-Cola is a brand that supports mass marketing, the goal of marketing is to capture a large number of users. All the consumers are targeted for this marketing irrespective of the marketing factors.
Below is a table of differences between Niche Marketing and Mass Marketing:
|S. No.||Based on||Niche Marketing||Mass Marketing|
|1.||Definition||A marketing strategy that targets a specific market.||A marketing strategy that targets whole market.|
|2.||Objective||Develop the value proportion.||Increase the value share with customers.|
|3.||Consumer Type||Homogeneous Buyers, who are intended to buy the products for a long time.||Heterogeneous Buyers, who keep on changing.|
|4.||Marketing Type||Intensive marketing by Internet and magazines.||Extensive marketing by Television media.|
|5.||Advertising by||They use easy medium such as attractive websites, informative and relevant content and through emails.||They use heavy mediums by spending a huge amount such as TV and media advertising.|
|6.||Product variety||There is usually a single product with a specific group.||There is a group of different products which groups in society.|
|7.||Revenue generation||Niche marketing strategies make lower revenue generation due to their small economies of scale in short term.||Mass marketing strategies have higher revenue generation due to their large economies of scale compared to the niche marketing.|
|8.||Competition||It is relatively low as the company has a value for its product.||High because there are several other competitors.|
|9.||Example||Creating and marketing the WordPress plugin globally.||Brands like Crest and Colgate follow mass marketing by airing TV commercials, publishing magazine ads, and make promotion using other channels including social media and outdoor billboards.|