Final answer:
In mass marketing, a business offers the same product, price, promotion, and distribution to all consumers. This approach treats the entire market the same, focusing on economies of scale to potentially lower costs and using widespread advertising to reach as broad an audience as possible.
Step-by-step explanation:
When a business adopts mass marketing strategies, it offers the same product, price, promotion, and distribution to all consumers. This approach is based on the idea that a wide market can be reached effectively by treating the entire market as a homogeneous group that will respond similarly to marketing strategies. Mass marketing opposes strategies such as market segmentation or product differentiation, where products, pricing, promotions, or distribution may be tailored to specific groups or consumer needs. In mass marketing, the emphasis is on reaching as many people as possible with a streamlined marketing approach, which often leads to economies of scale and thus potentially lower costs per unit of the product.
The principle of mass marketing is connected to the concepts of supply and demand and competition. It assumes a broad, undifferentiated demand for a product, foregoing the personalization that comes with targeting specific market niches.