Niche and Mass marketing

Define Niche marketing
Production aimed at satifying specific markets needs, price range and quality
Advantages of NM
1) less competition
2) brand loyalty
3) save money on advertising
Disadvantages of NM
1) small market size= less profits
2) limited growth
Define mass marketing
An attempt to appeal to an entire market with one basic marketing strategy, utilising mass distribution and mass marketing
Advantages of MM
1) Large customer base
2) Strong brand image reduces advertising
3) More profitable
Disadvantages of MM
1) extremely expensive
2) effects may vary over geographical areas