Hello to the beautiful members and many many congratulations to the whole community for growing an year older together😍
Keeping in mind the wonderful efforts made by @crypto.piotr and team so as to maintain the vulerability of our wonderful PH Community.
Talking about MARKETING has never been that easy as it really is the building block of any startup, a new businnes or an entrepreneurship.
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Marketing is the core platform where your product launches and running a business without knowing the market and its segments is hazardious as this will take the business to destruction only.
Here in this post, lets discuss two of the basic marketing strategies
NICHE MARKETING and MASS MARKETING
MASS MARKETING:
Mass Marketing is all about creating a single standalone product that is referred to be used by all the audience.
It is exposed to as much larger audience as possible.
Mass Marketing is about ignoring market segments and attracting more and more customer towards your product or service.
This strategy is basically used when the sales margin is higher and prices are kept low.
Such strategies are being used by companies that are capable to attract more and more audience and it is when their products lead.
I would love to give an example of crisps of a US COMPANY THE WALKERS'
This company has acquired almost 55% of the all US crisps market and is available all over the place with different mouth watering flavours.
Those crisps are low in cost and easily affodable, also every one can have a go at them as they have a big variety of flavours.
Here the strategy used by The Walkers can be said to be MASS MARKETING as they planned to take the sales high with proces being low and got immense benefits.
Now lets move towards Niche Marketing;
NICHE MARKETING
Niche Marketing is a strategy used by the markeeters in order to keep track of market variance and their audience.
Using this strategy, the companies design their products keeping in mind the current trends, age differences, cultural differences and thereby decide their market segment or in other words their target market
It on the contrary to Mass Marketing as the prices my be high and low for different market segments and the sale can be reduced due to a selected area of marketing.
The Targeted audience is also lesser when compared to the audience attracted in Mass Marketing
CONCLUSION
Following the above ywo strategies, it can be easily concluded that if your product or service does not depend upon customer needs and wants then Mass marketing is the way to go.
But if you are dependent, the product for a child is different to that of an adult, you gotta select Niche Marketing.
That's all from this one.
I would love to listen more from you people in the comments❤❤😍
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