niche/mass

• Niche marketing - targets small section or previously unexploited gap in a larger market
• Mass marketing - targets whole or market
• Pros of a niche market

  • focus on individual needs
  • possible to charge premium
  • fewer competitors
• Cons of niche market

  • vulnerable to change in demand
  • higher costs
  • low sales levels
• pros of mass market

  • Increases brand awareness
  • High sales
  • high revenue
• Cons of mass market

  • high profits attract competitors
  • Difficult to track changes in consumer needs