13 Jun Discussion and Responses
Discussion 1
Mass marketing favors the market for large brands employing marketing programs to target the market. Mass marketing builds a brand name as it uses media to marketing. In mass marketing, whatever the marketing tool is, the advertisement is seen by millions of people which helps to increase popularity of the product. Even if people don’t need the product, they could result in buying it just because of the brand. It also reinforces companies mission statement. This is the reason why big companies like Coca Cola, Nike uses mass marketing. Mass marketing requires big budget, access to mass media and firm cohesive marketing plan. Mass media could be national newspaper, radio channel, television, famous magazine or internet website. This group of people strongly believe that there is always room to develop new strategies for mass marketing and is more effective.
On the contrary, More refined market segmentation scheme and fueled by internet and other customized efforts, some people thinks that mass marketing is dead. Mass marketing also have some disadvantages. As it is very expensive, small scale industries cannot afford to advertise their start up or new products on TV or newspaper. They might not have multimillion dollar budget to spend on or access to national level advertising platform. It is also true that the money spent on mass marketing cannot recouped through sales which can be the reason they are feared to spend the money even if they have it. Instead of mass marketing, it is beneficial for those industry to target a specific segment of the consumers and market the product in that segment which is called market segmentation (Peter & Donnelly, 2019).
According to Peter and Donnelly, social classes are developed on the basis of wealth, skill and power. These groups are Upper Americans, Middle Class, Working Class and Lower Americans (Peter & Donnelly, 2019). If marketers can develop the strategy for each specific group, it would be more effective and efficient rather than introducing one product to all groups.
Personally I feel that mass marketing is dead. Rather than wasting precious time and money, if marketers and marketing managers, divide the large group of consumers into segments, they can focus more on needs, wants and requirements of the specific groups.
Discussion 2
Market segmentation is dividing the market into groups of similar consumers and selecting the most appropriate of the groups for the firm to serve (Peter & Donnelly, 2019). Consumers vary with the needs, priorities, and purposes, a single product may not meet the needs of every consumer and hence we have the concept of segmentation, dividing the pool of consumers into groups by which the targeting the group to serve profitably by a firm is a successful marketing program. Mass Marketing is where the firm’s target is not a homogeneous segment but a total heterogeneous market, a wide scope of audiences, hoping the good, service or the product is required by so many people from which the firm can tap a market.
Mass Marketing is not completely dead yet. Let’s say a product is mass marketed irrespective of age groups or region or family size or culture or knowledge or behavior (Alaa, 2017) using ads in the internet or ads in the emails, the information about the product somehow reaches to the customers that are looking for the product. For example, consider mass marketing a diabetic product, the information about this product can be reached by any younger age group who are aware of their parent’s needs. Instead, if the product is targeting an older age group, what if the targeted group is busy with other things.
It is profitable or appropriate when 1. The market is too small that marketing to a portion is not profitable. When we know that the market is too small for a certain product like Tuxedo (it is preferred only for weddings or parties) targeting a certain age group or a certain time of a year is not profitable. 2. When there are enormous users of the product that makes a large proportion of the sale 3. When the firm’s brand is a dominant or superior brand in the market and targeting a few segments would not benefit (Peter & Donnelly, 2019). For example, the Nike brand is a dominant brand and known for quality and styles.
The ads that are used for Mass Marketing is not that efficient anymore. With increased technology and online sales, the business has been changing dynamically. The ads in the newspapers are no more reaching the people. With these things into consideration, segmenting the market pool according to the similar interests involves a lot of research about the consumer or buyer behavior and reaching the target groups using latest marketing ways like social networking sites are more reliable.
I would like to conclude that Mass Marketing not dead yet but the sources for mass marketing is not as effective as before.
Discussion 3
Marketing can be generally defined as medium of communication between the producers and consumers. Different types of marketing include marketing for a product, service organization person, or a cause. Marketing approaches and methodologies always change with the consumer needs. Marketing is mainly influenced by the technology and digital world. Marketing approaches have evolved from radio hot spots and newspaper advertisements to Facebook and Instagram adds. In short, the marketing universe is always transforming.
Mass marketing is useful in certain situations such as when the market is small and personalized marketing is impossible, when the brand is the dominant brand, and/or heavy users make up a large portion of the market.
In the current consumer world, mass marketing is valid if it feels personalized to the consumer. In other words, it goes back to the basic definition of marketing, i.e., providing the consumers what they are looking for.
I think mass marketing is not dead, but its not just enough to promote the product/service.
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