What are the weaknesses of mass marketing, as opposed to segmented marketing, and what advantage does a company gain from market segmentation?
There are many weaknesses to mass marketing. The first one is that it targets the entire market. Many companies make the mistake of thinking that their product will be of interest to everyone. The companies waste enormous resources advertising, promoting and selling to the mass market. A good marketer will research to see what specific consumer characteristics make up their target market. Once they determine their niche target market, they can then segment the market. This leads to more efficient promotional targeting. For example, if I come up with a new candy bar that helps lower blood sugar, why would I waste effort promoting the product to the masses? Instead I would target diabetics through medical doctors, or health magazines. This leads to better long term customer relations and a better chance of success for my product.