Mass marketing had its own days of glory couple of decades back when production concept was in vogue. You sold what you produced (I will give you any color as long as it is black – remember?). Mass marketing is actually wrongly christened – it should be mass selling.
Life has changed a lot since the color of black cars. The question is, is it possible to mass market or segment the markets. Marketing means selling the product looking to customer needs. Whether you are selling the product to masses or a specific market segment, is secondary. If you are able to whip up the fancies of all of your potential customers through a hot selling product, it is mass marketing. Consider the software from Microsoft – it is mass marketing. The software from Oracle is segment marketing. Small business owner can certainly consider mass marketing to be successful, however he should concentrate on a specific geographical market first (segment on the basis of geography), and then expand the market size.