While advertising a product or service the main aim is to spread your propaganda among the masses right? You want that your brand reaches to every nook and corner and everyone gets to know about it.
This article will discuss a marketing strategy that is based on a similar concept called mass marketing, but first, let’s discuss what is mass marketing and how it works.
WHAT IS MASS MARKETING?
To get actual knowledge about mass marketing it is very important to understand the concept of simple marketing. Now we know that any marketing strategy will obviously involve promoting and advertising a product right? And also the motive is to increase the reach of the product or service then how is mass marketing a separate term entirely?
Well, to understand the basic difference between the two, think about the last product you shopped for! What prompted you to buy that product probably you might have heard about it or saw a commercial or simply read about it somewhere and that prompted you to buy it. This is a basic example of marketing.
Now, think about a product whose advertisement you see on television, newspapers, social media often. You also encounter their posters and billboards on roads. Sometimes you vaguely see their brand logo on cars or a celebrity promoting it or simply their logo on your favorite player’s jersey.
Probably you might have seen such a renowned company’s logo so many times that you don’t even remember. This is an example of mass marketing.
Let’s talk about Coca-Cola. It’s a well-known brand and you often have noticed that it is being promoted at the IPL matches frequently. The company’s website clearly tells that it is targeting the entire world as the market as a whole. This is what you call mass marketing.
Mass marketing is a marketing strategy that involves the promotion of a product or service to a wide variety of audiences with the expectation of appealing to as many as possible.
IMPORTANCE OF MASS MARKETING
Imagine that there are two cosmetic companies competing in the market and decided to launch their products. Let’s refer to them as company A and company B.
Company A has developed a very creative marketing plan and started promoting their product to a sorority of office by organizing a promotional meet and showing a demo of their product.
Company B on the other hand has also developed an excellent Marketing strategy and started putting banners and posters in the same office and kept a promotional meet for all the female staff.
In the above two cases, we saw that company A approached just a section of female staff for advertising their product while on the other hand company B decided to launch a mass campaign and approached all the ladies of that office and not just a sorority. Thus, company B is more likely to make greater sales in comparison to Company A.
This is why mass marketing plays a major role in the marketing business. The ability to generate more sales is what makes a company become more successful. And for generating more sales you need more customers to know about your product.
You need to let the customers know that your product exists and spread your propaganda to a larger audience in order to get recognized by more and more people.
MEDIUM OF MASS MARKETING
So now as we know what mass marketing is and what importance does it hold for companies, let’s look at some of the mediums that can help you reach a mass audience.
- Social media marketing
- Email marketing
- Search engine marketing
- Content marketing
HOW COMPANIES DO MASS MARKETING?
Mass marketing is not just a business strategy, it’s actually a whole campaign in itself. As a business, you must lay down your business plan about how you will promote your product, where will the campaign start, and what will it include. You must also decide on your target audience and understand their likes and dislikes.
Nevertheless, once companies consider all these factors, they start their campaign but after examining all the attributes of the market of course. Let’s have a look at how companies do mass marketing.
- CONSIDERING MARKET AS HOMOGENEOUS– they don’t look at the aspect that every customer might have an individual taste and some segments will have their own expectations from the products instead they perceive the market as homogeneous and ignore segmentation completely.
- PRODUCTION– The technical aspect here is economies of scale. If the economies of scale are high then the unit cost can lower down and vice versa. The companies therefore try to reach a wider audience to increase the chances of sale to pursue higher economies of scale.
- SINGLE MARKETING MIX– there is no categorization of products for companies. These companies keep their products, prices and distribution channels standardized. They will try to increase their reach by advertising products on for example television or a newspaper or a mix of both. They will also use digital media platforms for promoting their product thus expanding their reach.
THINGS TO CONSIDER WHILE IMPLEMENTING MASS MARKETING STRATEGY
As discussed above, mass marketing considers targeting the market as a whole rather than just targeting a specific niche.
We took a glance at how companies implement mass marketing but we also need to know all things you must remember while implementing your mass marketing strategies.
It’s necessary to do proper market research and identify the factors that might affect the results of your mass marketing campaign and then make a marketing plan considering all those factors.
You must be creative when it comes to market strategies as people get attracted to the product that they find appealing in comparison to others.
Some of the most important factors to consider while going for a mass marketing campaign are listed below.
- Always be optimistic about the feedback that you will get when your product reaches people. Of course since your product is reaching a larger audience hence you will obviously get many different kinds of feedback. Welcome them all and always work to improve your product according to the wants of people.
- You need to be clear about your ways of branding the product that will attract customers to buy it. For example if you go for giving a discount on buying two products then you must be clear about the how much discount you are offering and what are the terms and conditions to avail that discount.
- Be ready with your promotion campaigns. Identify your medium of promotion whether it is going to FACEBOOK MARKETING, EMAIL MARKETING, CONTENT MARKETING or newspapers etc. Keep all those sources ready for rapid results.
- Knowing about the designs of your Marketing products and what all it consists of is something that people really appreciate and find attractive. You may also see DIGITAL MARKETING.
- Since you are not just serving a specific niche but the entire market therefore you must set a price that can be affordable for all. This strategy will draw more customers to your product from every niche.
ADVANTAGES OF MASS MARKETING
Not all Mass Marketing strategies bear fruits and thus it is very important to know whether your company will truly benefit from mass marketing or not.
No doubt that for some companies mass marketing does work wonders but for some companies targeting a specific group or niche is what gives them profits.
Asking yourself a similar question is mandatory. This is similar to the case of INSTAGRAM MARKETING and other such marketing.
Well, after analyzing all your business issues you think that mass marketing can do you and your business some good then of course it will be a lot more advantageous for your company. Here are some of the benefits of mass are marketing listed below. They are;
- Mass marketing strategies can potentially result in higher sales. This obviously happens as more people get to know about your product.
- When a company goes for a mass marketing campaign, it is actually reaching a significant amount of audience in a more systematic and planned way.
- It helps you to get higher economies of scale and benefits your business.
- Developing plans for mass marketing will help you do your dominance in the market and improve your current market scale. As a result your brand gets more influential and recognized by the people.
- Since you are dealing with the entire market as a whole therefore mass marketing is cost effective in comparison to targeting specific niche and then implementing separate marketing techniques for them one by one. Thus, it lowers down your money, efforts, research and hard work.
DISADVANTAGES OF MASS MARKETING
- The companies do not enhance their products according to the taste and requirements of the consumers. Thus, for some consumers it is unattractive.
- Sometimes the companies keep the prices so low to attract the customers and since the product is not unique thus it becomes of low value. Thus, it provides low profit margins
- The main dominating factor is price. And that is what keeps the loyalty of the people quite low when it comes to mass marketing. If the rival company provides them the same product at a lower price they will switch to that product in no time.
- The high competition that comes with mass marketing often makes companies become rivals easily.
- Due to high competition in the market an entry barrier is created by the existing firms. As a result it becomes difficult for the new companies to enter and emerge in the market.
Mass marketing is a great marketing strategy and will certainly help you reach a massive amount of audience in a short period of time. It is not an easy campaign though and needs to be properly examined before implementation.
Since your product is directly reaching a wider audience you must ensure its quality and pricing in order to have a successful marketing campaign. You must know that if one’s product does not appeal to the audience your brand name and reputation can really be affected and as a result, people’s mindset about your brand can completely change.
While mass marketing strategies do give you benefits but one should keep in mind that they might not be beneficial for everyone. Some companies will get benefits by just targeting a specific audience and hence it entirely depends upon the type of product you are selling.
A closer look at the article will help us reach a conclusion that mass marketing is more about advertising the product to more people rather than actually increasing the reach of people to buy your product.
Economies of scale are the cost advantages that are reaped by the companies when production becomes efficient. It lowers down the production cost.
The business of promoting and selling a product or service to a specialized segment of the market.
Another name for mass marketing is short gun marketing.
A target market is a fragment of people identified through studies and research to be most likely to buy a particular product.
Differentiated marketing is a marketing strategy where at least two different market segments are targeted and each segment is then reached through a different advertising strategy.