Marketing strategies for different types of market

• •A mass market is one that caters for (almost) everyone, mass marketing is the process of selling products to all consumers regardless of age, gender, etc. in the same way •These products can be marketed to consumers all over the world in the same way
• •A niche market is one that caters to a small subset of a segment and will target consumers in a very specific way

  •Products are designed for a specific purpose

  •Small turnover keeps larger firms from entering market

  •Inelastic demand means higher prices can be charged

  •Media used will be; specialist magazines, trade fairs, websites, word of mouth, leaflets
• B2B stands for Business to Business marketing.  Many businesses just deal with other businesses rather than consumers

  •Advertising needs to be informative rather than persuasive or “clever”

  •Focus will be on offering a quality product and a quality service
• •B2C means business to consumer They are not looking to build up long term relationships with the supplier

  Short advertising messages which clearly point out the benefits should be used