The issue regarding on how mass market has demise day by day in our era, with each and every one prefers to satisfy their wants & needs rather than getting something that are already made to offer the market. Generally, some authors are saying that mass marketing are demised, and some are saying that the reports of its demise are greatly exaggerated.
I have managed to find few articles based on the topic given which is “Is Mass Marketing becoming obsolete?”. Out of all article, I have chosen three articles with different authors. The articles basically explain the authors perspective on how mass marketing works.
My first chosen article is written by David J. Katz a CMO (Chief Marketing Officer) also a public speaker, co-author of the best-selling book. And, he has been featured in The New York Times, The Wall Street Journal, New York Magazine, The Huffington Post, MR Magazine, and WWD. His article titled “The End of Mass Marketing: Go small, or Go Home” says that today, people demand and can receive the product or brand that they prefer. By fulfilling their preferences, they disregard on how expansive for the products created specifically for them. According to David J. Katz, success has moved from Mass Markets to Niche Markets.
Steve Rosenbaum, a CEO of MagnifyMedia said that consumers wants a unique, customized, personalized experiences at a time when companies are often trending in the opposite direction. By having the experience, they would expect more. He also refers to a Journalist and CUNY professor Jeff Jarvis writes on Medium: “What has died is the mass-media business model — injuring, perhaps mortally, a host of institutions it symbiotically supported: publishing, broadcasting, mass marketing, mass production, political parties, possibly even our notion of a nation. We are coming at last to the end of the Gutenberg Age.”
Rance Crain, an editor in chief ‘Advertising Age' mentioned that mass marketing is not dead. It's just harder to reach the market but with a good advertising, it allows has the capacity for consumer to gather and assemble them as a mass market. The only problem is, there are a very little reason for them to get together.
These articles including with other sources can be concluded that they are expertise in what they are doing especially David J. Katz because of his position in the Marketing industry that makes him an expert. Hereby, I also inserted citation to support my evidence.
As mentioned by David J. Katz, mass marketing is demised because the world are changing, today we have stores lining up pumping through highly efficient global supply chains. As a result, they over supplied mass marketing goods which in turn, it decreases the prices of the goods. Concurrently, competing for who are able to sell the over supplies for the lowest price.
People would not purchase goods that does not satisfy their needs because now, they are able to demand for products that fits to their preferences also as mentioned by David J Katz, product that stimulate a clear emotional response or solve a personal need. He recommends niche marketing is the most suitable ways to attract the market. We need “The Itch for Niche.” Most marketplace has applied this strategy, for example, websites like Amazon, and Jet.com
According to Steve Rosenbaum Jeff Jarvis is trying to say that, the demise of mass marketing is influenced by mass-media business model. It is known to us that mass media is very costly and only big and innovative company are able to pay such huge amount to market their goods.
While for Rance Crain, he believes that mass marketing is not dead. Maybe marketers are trying to move away from traditional advertising because traditional advertising has deteriorated to such a low level of creativity, he is saying marketers's creativity level has negatively impact society. Also, he wants to reach the consumers to enlightened them what the market have to offer.
By looking at these articles, I can conclude that consumers are likely influenced to purchase product if their level of satisfaction reached. Concurrently, consumers are also attracted to what mass marketing has to offer.
3.0 MARKETING IMPLICATION
There are several marketing implication that can be found in these articles. As a marketer, it is our job to be more alert on what consumer's specific tastes and requirement is to satisfy them. We have to try to improve the approaches used when finding out what their preferences are.
In this issue, every marketer will try their best to be more alert with the trends today to catch up on what is happening around the world, their dilemma on how to balance a small tasks today with a long term strategic planning that will be benefit its advancement tomorrow. We have to read every trend reports day to day basis. Besides that, staying engaged with social medias content flow gives a minimalist ways to keep up with the industry trend.
From the articles, there are a lot of alternatives that could support whether consumers are comfortable with mass marketing or disregard them. For instance, David have mentioned, Go Small or Go home. It means that, in order to recognise the public, one must focus on one segment in order to fulfil their wants and needs. He is emphasizing this a number of time just for us to keep it in mind.
Secondly, we have to really bear in mind that consumers have their own taste. In order to reach consumers expectations, we have to follow accordingly what they would want. According to Steve, several websites has meet consumers preference, for example, Airbnb offers one of a kind, often quirky, experiences. Etsy connects handmade and often personalized crafts to consumers. Netflix offers TV viewers access to films, series, originals, and documentaries so subscribers can program their own personalized TV network.
Lastly, Rance emphasize that mass marketing is not dead, it's just that they have weak creative problem. Marketers have to improve on their creative thinking. Daydream is one of the ways to improve creative thinking, it sound absurd but one should learn to try before jumping into conclusion. We have to embrace something absurd, for example, in the study by Franz Kafka, even stories like Alice in Wonderland have been suggested b psychologist.
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