What's it: A mass market is a large market with little or no difference in tastes and needs between consumers, at least in companies' eyes. The company targets many end consumers and assumes they need the same product and marketing
What's it: A niche market is a specific, small segment of a market with fewer competitors than the general market as a whole. It consists of a group of consumers with similar characteristics. They have unique needs and preferences,
What's it: A target market is a part of the qualified available market in which the company seeks to direct its marketing efforts. The available market includes individuals who desire to buy a product and have the ability to pay.
What's it: Market segmentation is the process of breaking down the consumer population into smaller groups. It aims to capture variations in consumer needs or preferences based on variables such as age, gender, income, family size,
What's it: Target marketing is a marketing activity focused on a target segment. Consumers in these segments have similar needs and tastes and respond to the marketing mix in the same way. To find a target segment, a company must