ACTUAL definitions of both mass and niche market? Watch

Monsur x
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#1
Report Thread starter 4 months ago
#1
Basically ik the difference and generally wat they mean
But I don’t have an exact definition and every website words it differently or includes something that another website doesn’t

So can someone give me an actual simple definition


Thanks
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The Mogg
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#2
Report 4 months ago
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Just think of it as common and uncommon. Mass is a market which is very populated with different companies selling the same good/service (i.e Phones), and Niche is a market which isn't populated with many companies selling the good/service (i.e Jacob Rees-Mogg pyjamas)
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Monsur x
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#3
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Hi
So what u said is part of its characteristics (of both mass and niche markets)

So a definition I can write is
Mass market is a very large market segment in which products are aimed at everyone and they’re more generalised
Niche market is a smaller market segment and their products/services are made to meet the specialist needs of the small customer group (target market)

Those can be the definition
But things like competition in both markets or market share or advertising in both markets I can put under the characteristics of mass and niche markets
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