A product profile is a general description of a product. Based on the style of
presentation, the amount of detail it contains can vary. The product profile
details what the product is and how it will appeal to the consumer. The
objective is to determine what makes the product attractive to the consumer.
This is an important analysis that will help in the marketing of the product.
Mass marketing is a technical term that refers to the selling of a product on a
large scale. It involves products that are produced in large quantities. There
may be minor differences in localized markets. The mass marketing strategy
ignores these. Mass marketing appeals to the whole market with a single offer or
strategy. This is done by broadcasting a message that will reach the largest
number of consumers possible.
Mass marketing uses the mass media to get their message across. Radio,
television and newspapers are the usual vehicles employed. With the advent of
social media, strategies are now also devised to take advantage of this new
avenue. Exposure to a product is maximized by reaching the largest audience
possible. This often directly correlates to a larger number of sales.
Mass marketing focuses on high sales and low prices. This is just the opposite
of Niche marketing. Niche marketing targets a very specific segment of the
market. It involves specialized services or goods with few or no competitors.
Mass marketing came into existence in the 1920s when mass radio came into use.
The mass radio, broadcasting to huge audiences nationwide gave corporations an
opportunity to appeal to a wide variety of potential customers. Before this, the
strategy of marketing was what may be called variety marketing. In this
strategy, different methods were used to appeal to different sections of society
most often according to geographical location. In order to appeal to and
persuade a wide audience, this had to change. Over the years, mass marketing has
developed into a world-wide multi-billion dollar industry.
Things which are perceived as necessary or essential are subjected to mass
marketing. To further increase profits, these products are often touted as
durable goods when oftentimes they are made of substandard materials. This
affects the longevity of the product. This practice of planned obsolescence
ensures future sales opportunities by preventing the market from becoming
saturated with high-quality, long-lasting goods.
One of the biggest benefits of mass marketing is that the target audience is
broad. This translates to a higher number of successful sales. Drop in sales in
some areas may be offset by sales in other areas. This helps overcome potential
losses. Another positive factor is that production costs are lowered by mass
production. Marketing research and advertising costs too are lowered. Mass
marketing campaigns also benefit due to the magnitude of appeal to larger
audiences.
Mass marketing also has its disadvantages. It attempts to appeal to the entire
consumer population instead of focusing on a particular niche of consumers. The
strength of the product and business can affect performance. The strength of the
competition too has a bearing on the performance. Another factor is that
overexposure can make consumers grow tired of seeing a business's name and
products everywhere.
One factor that is inevitable in mass marketing is heavy advertising costs. It
is expensive to establish brands and keep them in the public eye. Often,
competition is stiff. Besides, to stay ahead of the competition, high innovation
and market research costs have to be incurred. |
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Answer the following questions using complete
sentences |
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1. |
From paragraph 1, what does
the product profile describe ? |
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2. |
(a) From paragraph 2, what
does the term mass marketing refer to ?
(b) From paragraph 2, what
does mass marketing ignore ? |
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3. |
(a) From paragraph 3, what mass media
vehicles are used in mass marketing ?
(b) From paragraph 3, mention the
two advantages of using mass media. |
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4. |
(a) From paragraph 6, what is
planned obsolescence ? How is it beneficial ?
(b) From paragraph 7, what
are the biggest advantages of mass marketing ? |
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5. |
"Mass marketing has its
disadvantages. (a) Identify
one of the disadvantages. (b)
How is this constantly increased ? |
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6. |
Based on the passage, write a
summary of :
• The necessity of mass
marketing.
• The role that it plays in
modern society. |
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| Answers |
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1. |
It describes what the product is and how it will appeal to the consumer. |
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2. |
(a) Mass marketing refers to
the selling of a product on a large scale.
(b) Mass marketing ignores
the minor difference in localized markets. |
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3. |
(a) The radio, television and
newspapers are the usual vehicles used in mass marketing.
(b)
(i) Exposure of a product is
maximised by reaching the largest audience possible.
(ii) This directly translates
as an increased number of sales. |
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4. |
(a) Planned obsolescence is
ensuring that a product does not last too long. This ensures future
sales opportunities.
(b) The target audience is
broad. This translates into a higher number of successful sales. |
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5. |
(a) Advertising costs may be
big. ( Any suitable answer )
(b) High innovation costs and
market research costs needed for the advertisements keep the costs high. |
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6. |
Mass production today makes mass marketing an absolutely necessary
strategy. Mass production reduces production costs when compared to
small scale production. For the scale of production, mass marketing
becomes absolutely necessary due to the importance of reaching the
largest number of consumers in the shortest span of time. Unsold goods
tie down capital without being productive. It also ties up the capital
which will be better utilised producing the next batch of goods. Mass
marketing increases consumer awareness of the product. It also directly
increases sales. Besides, strategies are devised to influence the
consumer into believing in the necessity of the product. Modern society
is a global village. Mass marketing today is on a global scale where
people from different countries all buy the same goods at the same time. |
