Business Studies Recap Day 8 - Niche and Mass Marketing
On day 8 of our Year 12 Recap, we will look at the distinction between niche and mass marketing campaigns when a business is launching a new product.
When a business launches a new product, it must decide what type of market the business wishes to target. This is vitally important because the size and composition of the market will shape the marketing and promotional stance decided upon by the business. A product catered for the mass market will result in a general and perhaps standardised product which is designed to sell in large quantities to the market. However, if the business wishes to capture some untapped potential in the market then the business can target a separate sub-section in the main market – this is defined as a niche market.
Here Jack takes you through the niche and mass marketing slide: