Business – 3.1 The nature of marketing – Mass and niche marketing | e-Consult
3.1 The nature of marketing – Mass and niche marketing (1 questions)
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Model Answer:
| Product | Shift from standardised, high‑volume items to specialised, feature‑rich products that meet the specific needs of the niche. |
| Price | Move from low‑price, volume‑driven pricing to premium pricing that reflects the added value and exclusivity of the niche offering. |
| Place (Distribution) | Replace mass‑distribution channels with selective, often direct‑to‑consumer or specialist retail outlets that reach the targeted segment efficiently. |
| Promotion | Change from broad, generic advertising to targeted communication (e.g., niche magazines, online forums, personalised email) that speaks directly to the niche audience. |