What Is the Meaning of Mass Market?
The term mass market refers to a large, undifferentiated market of consumers with widely varied backgrounds. Products and services needed by almost every member of society are suited for the mass market. Such items as electric and gas utilities, soap, paper towels and gasoline, for example, can be advertised and sold to almost anyone, making them mass market goods.
Market niche strategy
is defined as a narrow group of customers who are looking for specific products or benefits. They have clearly defined needs and are ready to pay a higher price for a specific product (service) or its quality to satisfy them.
Segmentation strategies
There are many ways in which a market can be segmented. A marketer will need to decide which strategy is best for a given product or service. Sometimes the best option arises from using different strategies in conjunction. Approaches to segmentation result from answers to the following questions: where, who, why and how? Jon Weaver, Marketing Manager at Bournemouth Borough Council applies a multi-strategy approach to identify segments.