Mass and Niche Markets

• Mass markets appeal to a large majority of people, whereas niche markets appeal to a smaller or specific market.
• The mass market has more money to be made in it as there is a wider variety of people, unlike the niche market where there is less money to be made as there is a limited variety of people.
• Mass markets will need more advertisement to get the attention of the consumers so they know what is available but this will result in a high cost. Whereas niche markets will have less advertising but will more specific towards the products that it is selling and who it is targeting.
• Mass market will generally have more room for growth as their is a variety of products on sale and the cost of manufacturing will be cheap due to stock being bough in large amounts (economies of scale). Whereas the niche market will have a small room for growth as it will have less sales due too expensive suppliers, as products that the business will be buying will be unique and be order in small quantities as there is less demand, which limits growth in that sector.