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COST EFFECTIVE MARKETING STRATEGY

What is marketing strategy?

A Marketing strategy is a way to make your potential customers aware of the features, benefits and specifications about your product.  This is a way for companies to collaborate with their consumers. Basically you try to encourage your target population to buy those specific products and services from you. On this time the marketing strategies can be innovative or they can be well known.

An effective marketing strategy can most definitely help you to get ahead the competition. 

With this said, you should know there are many different types of marketing strategies. In order to select the right marketing strategy for your business, it is very important to consider the following:

Target Population

This is probably one of the most important points. By stablishing this you will know the correct demographics and with information you can choose the best marketing plan for your business.

Audience

Ask yourself, what do they want? and with this answer you can create a plan to make the buying experience easy and fun.

Marketing Strategies

Study your demographics; learn their attitudes and behaviors. Then choose 

Once you have considered the marketing strategies and found the right ones. Make sure to asses them and apply them. Testing the process can help you stablish which one is the most beneficial.  

Types of marketing strategies

Picking up a marketing strategy includes analyzing the needs of your business, your target audience and specifications of your products.

The two main types of marketing strategy are:

  • 1. Business to business.
  • 2. Business to consumer.


To approach your audience you can do any of the following:

Paid advertising

With this option you have take more than one approach to the consumer. TV advertising, printed media advertising,  internet marketing (pay per click)

2. Cause marketing

Cause marketing links the services and products of a company to a social cause or issue. It is also well known as cause related marketing.

3. Relationship marketing

This type of marketing is basically focused on customer building. Enhancing existing relationships with customers and improving customer loyalty.

4. Undercover marketing

This type of marketing strategy focuses on marketing the product while customers remain unaware of the marketing strategy. It is also known as stealth marketing.

5. Word of mouth

It totally relies on what impression you leave on people. It is traditionally the most important type of marketing strategy. Being heard is important in business world. When you give quality services to customers, it is likely that they’d promote you.

6. Internet marketing

It is also known as cloud marketing. It usually happens over the internet. All the marketing items are shared on the internet and promoted on various platforms via multiple approaches.

7. Transactional marketing

Sales is particularly the most challenging work. Even for the largest retailers, selling is always tough especially when there are high volume targets. However with the new marketing strategies, selling isn’t as difficult as it was. In transactional marketing the retailers encourage customers to buy with shopping coupons, discounts and huge events. It enhances the chances of sales and motivates the target audience to buy the promoted products.

8. Diversity marketing

It caters diverse audience by customizing and integrating different marketing strategies. It covers different aspects like cultural, beliefs, attitudes, views and other specific needs.  





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