2 Oct 2022| ONPASSIVE
Mass Marketing: Is it the Right Marketing Strategy For Your Company?
Most of the customer across different marketplaces believe “good products come in small packages”. It is true because companies promote these packages as best products designed to reach masses. Usually, companies offer low-end products created for the unsegmented audience instead of any specific class of customers.
Companies adopt Mass Marketing strategy to target brand awareness instead of Return on Investment (ROI).
Mass Marketing is a business strategy designed to promote products to a wide range of audiences intending to meet brand awareness objectives.
This form of marketing mostly promote products which fall under the “Need” bucket instead of “Want” bucket.
To explain further, let us consider a product category such as Watches. Usually, a watch brand would promote its high-end watch, created for the affluent class audience. Example, Rolex and Graff Diamonds. But there are many watch brands which do not get advertised or promoted via ads.
Many FMCG companies usually adopt Mass Marketing strategy to push products in the market such as detergents, toothpaste, hand washes, soaps, etc. To check yourself, visit a Hypermarket store where multiple brands are selling soaps in the same price range. Their objective is to build brand value and create brand awareness. Many Clothing and Automobile companies apply this marketing method.
Mass marketing is just opposite to the Targeted marketing where a product is created only for a segment of customers meeting all criteria to purchase the product. In a targeted marketing strategy, companies usually give priority to ‘attract’ a customer towards the product instead of ‘interrupting’ in the customer buying process.
Inbound Marketing: In recent times, companies follow Inbound Marketing, where the objective is to attract a defined and targeted audience. It is followed by engaging with this target audience and then converting them as customers. Once the prospect has been successfully converted into a customer, delighting the customer process starts to provide a better service and keep frequently updating the customers with offers. Hence, Target marketing is a part of Inbound Marketing.
Outbound Marketing: It is a traditional method of marketing and advertising products through mediums like television ads, billboards and radio announcements. It becomes very challenging to measure customer engagement in such a marketing method because options to record customer data are not available. That’s why Mass Marketing always applies the concept of Outbound Marketing strategy.
To conclude, in the current marketing world, going for mass marketing is not what we would recommend. Always use online platforms and other survey methods to identify and classify your target audience. A defined target still shows better engagement and loyalty towards the brands than the randomly approached audience. Differentiated marketing ensures higher ROI and reduces advertising expenses. However, mass marketing can prove to be an essential tool for the product or service category, which is new in the market, and the audience is not aware of the brand.
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