What are the differences between niche and mass market strategies?
An example of an AI chatbot conversation about niche vs mass market strategies.
What are the differences between niche and mass market strategies?
Niche market strategies focus on a specific segment of consumers, while mass market strategies target a broad audience.
Can you give me examples of each?
Sure! A niche example is a vegan skincare line, while a mass market example is a popular brand like Coca-Cola.
What are the advantages of targeting a niche market?
Targeting a niche market allows for less competition, stronger customer loyalty, and the ability to charge premium prices.
Are there any risks associated with niche marketing?
Yes, risks include limited growth potential and vulnerability to market changes or shifts in consumer preferences.
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