Do you know your customers intimately?

There are two main marketing strategies businesses can use to reach their customers effectively. There is mass marketing which refers to treatment of the entire market as a homogeneous group and offering the same marketing mix to all the customers. It allows economies of scale to be realized through mass production, mass distribution and mass communication. The disadvantage of this marketing approach is that customer needs and preferences differ and the uniform offering is unlikely to be viewed as optimal by all customers. Read the rest of this entry »