Targeted Marketing versus Mass Marketing – Principles of Marketing
An ample budget provides more options and a greater chance for success. Two common big-budget strategies are mass marketing and differentiated marketing. its components: direct marketing, mass marketing, target marketing and relational In this view of CRM again, we argue an evolution model, .. the difference between CRM and relational marketing, however we indicated. Relationship marketing views the person behind the sale. What Is the Difference Between Promotional Push Strategies & Promotional Pull Strategies?.
Face-to-face interaction is less frequent, and many more services and product transactions are occurring behind a computer screen.
With a few clicks on their keyboards, clients can access a world of information that influences their purchase decisions, making the client relationship more important than ever.
While the Internet has reduced face time with clients, it has provided more and different avenues to develop relationships with current and prospective clients.
Some product companies never had direct relationships with their customers before the proliferation of the Internet and social media. The stores that carried their products exclusively built and maintained the client relationships.
Mass marketing - Wikipedia
Now, manufacturers are reaching their customers more directly, branding and building relationships through interactive and educational features on their websites, blog articles and posts on their Facebook pages. It is also called overall marketing. Over the years marketing activities have notably transitioned from traditional forms, such as television, radio and print advertisements to a more digitalized forms, such as the utilisation of online media platforms to reach various consumers.
Huangas cited in Shyu et al. Digital marketing allows for a marketer to reach a larger-scale audience in a more efficient and cost-effective manner, which is ultimately what Mass Marketing seeks to do.
5.1 Targeted Marketing versus Mass Marketing
Many mass marketing campaigns have been successful through persuading audiences using the central route to persuasion, as well as using the peripheral route to persuasion, according to the Elaboration Likelihood Model. John Watson was a leading psychologist in mass marketing with his experiments in advertising.
- What the difference between Mass Marketing, Relationship Marketing, and Stakeholder marketing?
- Mass marketing
- Relationship Marketing vs. Transactional Marketing
Shotgun approach[ edit ] The shotgun theory is an approach of mass marketing. It involves reaching as many people as possible through television, cable and radio. On the Web, it refers to a lot of advertising done through banners to text ads in as many websites as possible, in order to get enough eyeballs that will hopefully turn into sales.
An example of shotgun marketing would be to simply place an ad on primetime television, without focusing on any specific group of audience. According to Kotleras cited in Bigat, this type of marketing was traditionally carried out by small to medium-sized enterprises but has become more predominant in today's society where competition is substantially thicker.
Relationship Marketing vs. Transactional Marketing | Your Business
It is particularly effective at reaching a large-scale audience due to the captivating nature of the advertisement. By contrast, targeted marketing is more like shooting a rifle; you take careful aim at one type of customer with your message. Automaker Henry Ford was very successful at both mass production and mass marketing. Ford pioneered the modern-day assembly line early in the twentieth century, which helped him cost-effectively pump out huge numbers of identical Model T automobiles.
They came in only one color: He also advertised in every major newspaper and persuaded all kinds of publications to carry stories about the new, inexpensive cars.
The price was right. Sloan, the head of General Motors GMappeared on the scene. Sloan began to segment consumers in the automobile market—to divide them up by the prices they wanted to pay and the different cars they wanted to buy.
The idea was to offer a car for every target market or for every income level. You might be interested to know that before GM declared bankruptcy init was widely believed the automaker actually had too many car models. After eliminating many models including Pontiac and Oldsmobile, General Motors made a turnaround and posted a large profit for In fact, it can help you enlarge your customer base by giving you information with which to successfully adjust some component of your offering—the offering itself, its price, the way you service and market it.
More specifically, the process can help you do the following: Avoid head-on competition with other firms trying to capture the same customers. Develop new offerings and expand profitable brands and products lines. Remarket older, less-profitable products and brands.
Redistribute money and sales efforts to focus on your most profitable customers. The trend today is toward more precise, targeted marketing. A variety of tools and research techniques can be used to segment markets. Government agencies, such as the U. Census Bureau, collect and report vast amounts of population information and economic data that can reveal changing consumption trends.
Technology is also making it easier for even small companies and entrepreneurs to gather information about potential customers.