Disclaimer: This is an example of a student written assignment.
Click here for sample essays written by our professional writers.

Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com.

Explain why Coca Cola is a mass market product

Paper Type: Free Assignment Study Level: University / Undergraduate
Wordcount: 286 words Published: 17th Jun 2020

Reference this

Question

Explain why Coca Cola is a mass market product

Answer

A mass market product is when a corporation, usually a monopolist, sells a product to a relatively large fraction of consumers (Ivanov 2009). To explain a mass market, it can simply be paralleled with niche market. A niche product is a product targeting only a specific section of a larger industry and market. Coke, Pepsi and General Motors are some of the examples of products which target a mass market. Most organizations utilise the mass media to persuade and reach a wide audience who have different needs but will buy the same product. With this in mind, below are some of the rationales explaining why Coca Cola is a mass product:
  • When Coca Cola treats the overall population market as one large market, it will create a large pool of potential customers who are willing to buy the product.
  • Subsequently, the large market potential will yield to a remarkable sales volume of the target brand (in this case Coke).
  • Thus, the product will incur a cost reduction and this will be passed on to the customers. A reduction in prices causes a positive movement along the demand curve leading to increased sales for Coca Cola company.
  • Furthermore, there will be few variations on the production, resulting in a longer and efficient product run.
In conclusion, firms that aggressively promote and advertise their products attain a competitive advantage over their competitors. Therefore, Coca Cola’s products, in particular Coke, will appear superior, attaining a brand preference.

References

Ivanov, M., (2009) Niche market or Mass market. Economic Letters, 105 (3), 217-220

 

Cite This Work

To export a reference to this article please select a referencing stye below:

Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.

Related Services

View all

DMCA / Removal Request

If you are the original writer of this assignment and no longer wish to have your work published on UKEssays.com then please: