The Mass Market is fast becoming a “Lesser mass”

Off late I have been quite intrigued by the concept of Long Tail. Especially the effects it has on Consumer behavior. Will talk about the tail in future posts. The posts under the category Mind Matters will be more focussed on consumer mindsets and their implications for the product.

There was an age when products were mass produced and sold to masses. Remember the T model…  Actors were called Mass heroes and their films were supposed to appeal to the masses. Soaps like Cinthol and Lifebuoy were for the masses. however today  I feel that,  this group, the so called “masses” is continuing to reduce gradually in its size. Thus the volumes generated out of the masses have also started to reduce.

Compared to the Movie halls being the only medium for movies, today we have a number of other medium. be it the DTH service, or the Online movie libraries and rentals. U get to choose from a huge offering, and the movies aired can be subscribed to your own taste. Its no mroe the case of watching what’s shown on the idiot box. The movies and content can be tailor made and chosen to your own preferences and tastes.

When CK Prahalad and MS Krishnan talk abt N=1 and R=G, it also means that down the time lane, there will be no two similar products owned by two different individuals.. They will all be customized to individual needs and tastes. You can no longer be profitable by only serving the Mass market merely beacause the mass market wont be of the smae size as it is today. More and more people will go for Niche offerings as it be

Today’s Brick and Mortar stores have a stock range that appeals to the wider mass. So when I as a customer walk in “I dont get what I really want.” instead ” I get to choose from what most other people visiting the store want”. Isn’t this a form of choice restriction…??? 😐 . This is true with irrespective of the size adn format of the store. They dotn stock items that are not picked up on a profitable scale.

This is where the online stores score hands down. Since they have no limitation of space(Central warehousing), they can afford to store even niche products that is wanted by say only 2 to 3% of the customers. This is one of the greatest advantages of online stores.

Not only that, the online portals have now started to encourage customer to continue buying niche products. People who did not buy niche items just beacause they were not available have now got the option of buying it online. Thus it adds more sense for online protals to offer products that are niche too. The search engines can then guide the customers to their portal.

Day by day the people who buy niche products will increase and they will leave the so called “Mass Market” group. Masses will no longer have the same mass. Indivuduals can now afford to hold on to their individual preferences without the restrictions of choice.

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~ by technolect on April 29, 2009.

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