Mass And Niche Markets Flashcards
(2 cards)
1
Q
Mass market
A
Target large population
Generic product
Large scale production
Potential for high sales revenue
May compete with many other businesses
Promotion will involve TV and newspapers
Have to have competitive pricing
2
Q
Niche market
A
Small population
Specialised product
Small scale production
Low volume but high profit margins
Not many competitors
Limited customers
Direct marketing
Business has to have great quality and customisation to succeed
