What is Marketing? Types of Marketing Strategy:-
Welcome to Earning Boss. It is very easy to start a business by spending money. But in today’s time, it is very difficult to reach your mind and attract people towards you. Marketing and Promotion is the only thing through which you can deliver your product and services to the people. So in this article, we have to learn What is Marketing? Types of Marketing Strategy.
Although there are many ways of marketing available. But you need to choose your business by looking at its size and type right date. And to a large extent, your marketing method also depends on your budget and your product or service. First of all, we see What is Marketing? then we see Types of Marketing Strategy
What is Marketing?
Mainly marketing is the way through which people are familiar with your business to fulfill their needs and desires. There are many examples around us where people have a very good business plan, but because of not getting the right marketing they cannot reach people and fail.
In order to make your business a success, it is necessary that you come out of your scope and convey your ideas to the people and prepare a customer base for yourself. Advertising, selling, and promotion are just part of marketing, but marketing is not limited to just about anything else.
5 P’s of Marketing:
When you launch your product or service, you have to take into account six things, they are known as 5 P’s of marketing.
Product: We hereby refer to the product or service that you provide to your customers. When you select the service as your business, you do not have to worry about its packaging and labeling, but you have to take special care of branding and quality. If you want to deliver a product to your customers, then it will be necessary to keep track of its packaging, labeling, branding, and quality. Apart from this, you have to take great care of your product safety too.
Price: Price is the price of any item or service which is provided in lieu of customer product or service. When deciding the prices of any of your goods or services, you have to take care of the other competitors available in the market. But if your product is the best and unique then you can earn your mind profits. Cars such as Audi and Mercedes have much more value than others available in the market. But they do not make any difference to them because their target market is different. But if you are launching a new product, then you have to keep the market in mind.
Place: Place is where your customers buy your product or service. It also includes all marketing channels. Marking includes the following channels.
Direct retailing to the customer: In this way, you can open your own direct store or other outlet and offer to your service or product customers. In this situation, the price of the product or service is relatively low, because in this situation, the expenses incurred in the middle channels are saved and the profit is received by the trader himself.
Retail Online: Nowadays online marketing is very trendy, through which you can deliver your goods or services directly to your customer in online mode. Nowadays it is very successful especially for the goods, due to which the customer has got more variety and choice.
Apart from all these, you can also use Distributor, Consultant or Agent to sell your product.
Promotion: Promotion is the most important part of marketing, with the help of it you reach your product or service customers. Nowadays, we have several ways of promotion like website, social media, blogging, e-newsletter, networking, pamphlet, TV, radio, print advertising, word of mouth advertising, loyalty and reward program, cold calling, etc. By using these methods, you can better identify your business.
People: We do not mean to get here from People, your supplier, distributor, wholesaler, stack holder, and your Employees. All these people are a part of your team in your business and the success of your business is all part of the equation.
Process: Customer service and marketing process are a very important part of the success of your business. Ordering a new stock on time in the marketing process. It includes timely delivery to the customer, collecting feedback from your customer and regular analyzing of sales and financial reports. If anything goes wrong then both of your market and business will be affected.
Whenever you start a new business and think of ways of marketing for it, all those methods go around these six things. But in everyone’s mind, there is always the thing that how to market your business? What will be his methods? To solve your problem, we are giving you some marketing methods which will be useful to you. Let’s see Types of Marketing Strategy.
Types of Marketing or Marketing Strategy:-
There are many Types of Marketing Strategy. The following strategies are so useful to us and we hope it will also work for your Business. So let’s See Types of Marketing Strategy
1. Employee Marketing:
Many businesses consider their employees as their potential customers and brand ambassadors. While believing in this fact, some individuals give discounts for their products as benefits to their employers. And when Employees are satisfied with the product and service, they also promote it and help to spread your business. This is good Types of Marketing Strategy.
2. Business to Consumer Marketing:
In such marketing, the company is directly in touch with its customer and direct offers to its products and services customers. In many circumstances, it operates its business both online and offline. All marketing strategies are created according to customer data. In this, you need to fully identify your customer, as he keeps saying, what is his Choice, how much is his income and how much money he can spend on you etc. For such marketing, companies like Amazon and Flipkart are a good example, which operates online stores and provides direct service to their customers. This also very useful Types of Marketing Strategy.
3. Business to Business Marketing (B2B Marketing):
It is slightly different from Business to Customer Marketing, in which a business offers its services to any other business. And unlike Business-to-Customer marketing in this type of marketing, many channels are involved in marketing, and each has to take several disciplines related to channel price, buy and sell, payment method, storage, etc.
4. Direct Selling:
In this kind of marketing, you come directly into contact with your customers and make them familiar with the benefits and features of your product directly. The best way to do this kind of marketing is to create a group of your customers and give them your product information and attract your customers here and sell them your product. In this type of marketing, the expenses incurred in the middle channels are also avoided and the business owner gets more benefit. A company like Avon and Amway is a very good example of this, who have succeeded in creating a different market and customer in this way.
5. Cause Marketing:
This kind of marketing refers to your product or service for your customers to create some reason to choose your product or service instead of any other tempting offer. The best example of this is the car companies like Audi and Mercedes, whose marketing skills do not use traditional methods of marketing, yet there is a good market available for them.
6. Co-branding and Affinity Marketing:
It is true for any business that your competitors deliver to your customers, but it’s also true that there are many businesses with whom you share your customers. For example, if a company provides online coaching on any subject, then its customer may be the customer of a company selling a study material.
In co-branding or affinity marketing, they come and trade with two companies whose customers are beans. Because they are not the direct opponents of each other, so it comes together and gives better compatibility to their competitor. If you use this Types of Marketing Strategy then it is very useful to you.
7. Earn Media:
I think everyone is very confused with the media term, media is a very important thing for marketing, but there are many ways in it, such as:
Branded media is the media that a company makes for the purpose of informing, entertaining or publishing people about their product.
Paid media can be advertised in any way, which is used by the money. It depends entirely on your budget, product and your location, which kind of pad media you want to use.
This also Good Types of Marketing Strategy.
Unlike all, Earn Media is a free media medium, its main instrument is public relations. It is also sometimes used through newspapers, magazines or blogs. Here you will be confused that if you have money to advertise through newspapers and magazines, then the answer will be that through these means advertisements are made by money, but when you publish your news through these means your Work is appreciated, so do not take the money and you also get publicity. Along with this, public confidence in the publicity carried out by Earn Media is also more.
8. Point of Purchase Marketing:
From Point of Purchase or Point of Sale Marketing, we mean attracting customers to other products while selling your product. For example, when you go to a mall, some products are decorated near the billing counter, then at that time, the purpose of the cellar is to attract the customer towards those products. Another example of this is that when you have a blog on any site, then a link to other blogs is given below so that the purpose of the site owner is to attract the readers to those blogs. This is a very good way of marketing.
9. Internet Marketing:
There can be many ways of internet marketing, along with it’s an effective and low-cost way of marketing in today’s time. In this, you can use any method of social media, e-mail, blogging etc. Any kind of marketing that you go through the internet comes under internet marketing. But for the promotion of your business, you have to make the appropriate strategy. Along with this, you can simulate your activity through various methods and techniques, whether it is going in the right direction and whether it is right for your business.
You know that this generation is known as Generation of the Internet. therefore if you use this Types of Marketing Strategy then it will be more useful to you. So let’s see Types of Marketing Strategy:
10. Paid Media Advertising:
If you want to promote your business fast, then paid media is the best medium for you. You have to spend money on this, but this money is collected soon. The following types of paid media marketing are:
Advertising by TV, Radio or Newspaper
Before using paid media, you have to select it according to your budget and product. Many times when you go to a very large level, your expenditure is very high.
11. Word of mouth advertising:
With the coming of the Internet, it has become a very effective method of marketing. Now it is not necessary for marketing that you face to face and do marketing in this manner. Facebook, WhatsApp app, etc. have made it even more accessible. For example, if you have a beauty salon and one of your customers asks you for some beauty tips, then you can organize your different products. This Types of Marketing Strategy will give you more popularity.
12. Social Networks and Viral Marketing:
You cannot predict what kind of message will become viral quickly through social media that means people will soon reach out. Neither can you predict whether social media posts, blogs or articles will reach people soon?
But today, in the era of the Internet and smartphones, this is the most suitable way of marketing. If you are successful in choosing the right way for marketing, you can attract your customers to reaching them very soon. This is my favorite Types of Marketing Strategy.
Now I will give you some tips to make your content viral. Among with Types of Marketing Strategy, you can use this following Tips
You can make your content viral using the following tips:
If you use the image or video in your advertisements, it will be easy for you to attract people’s attention.
If you make your followers first and then share your content, your message quickly becomes viral.
Even if you ask your friends and fellows to share their content, even then your message becomes viral up to more people.
If you use more entertainment, inspiring and education data than others, then the attention of the people is attracted to you more.
If you give people incentives to share your content, then it will also be a good way for you to viral your data.
Now let’s See some more Types of Marketing Strategy:
13. Story Telling:
From Story Telling here, we do not mean to write a novel or make a movie, here’s the meaning of storytelling that you have to send your message in an effective way to the audience. These marketing methods connect you emotionally to your audience. Whether you want your audience to share your brand’s story, your success story or your own customer’s story.
14. Referral Programs:
This marketing strategy depends on your pre-built customers. These are made new ones for you. For example, if you give an offer or discount on bringing your customers new customers, then it will be a bargain deal for your business. Referral programs are now trends, we will do this Types of Marketing Strategy easily.
15. Content Marketing:
Content marketing is a very effective and innovative way through which customers are attracted to you. In today’s time, this method is very popular on Facebook and Twitter. Through which a large number of people come to your site. To attract your customers many times, grocery stores and supermarket owners. Also, attract their customers by running a variety of contests. Content Marketing Types of Marketing Strategy give you more sells.
16. Networking Event:
From networking here we mean to reach people who are happy with your services. It is not necessary that online marketing is effective for you at all times. Sometimes you have to come out and contact your customers. And in this case, you can reach your product better.
With this marketing approach, you can quickly convert your customer into your own loyal customer. In this manner of marketing, paid advertising plays an important role for you. As this makes your customers aware of your product. For example, if you introduce a group to your product and then update the information on your Facebook account. In relation to it, these people read your information from the interest and attract more of your product. ·
18. Social Media Marketing:
Social media is a means of creating higher awareness at low cost. Today, everyone is available on social media and also uses it in case of need. If you wish, you can also promote your business with the help of this account. And you can also access the appropriate information to your follower. Now we see Inbound Marketing and Outbound Marketing which is best Types of Marketing Strategy from my perspective.
19. Inbound Marketing:
Inbound Marketing is a Perfect Marketing Method. In this, you make a good relationship with your customers without spending any money. Inbound marketing involves all the activities that attract people to your business. In such a way, you get to meet people on television rather than giving an ad on television or contacting them on social media and attracting them.
20. Outbound marketing:
Outbound marketing is the oldest and most popular way of use for centuries. However, now a few changes have come in the old ways, which is also necessary over time. Even though there are many benefits of inbound marketing, people also use this method of marketing for big success. Together it also targets more people together.
Segmentation refers to division, and it is also essential for right and targeted promotion in marketing. For example, if you are running any fitness cores online, you have to face many types of customers such as weight loss, which is to gain weight, those who want to build bodybuilding or who want to gain strength. Everyone needs a different kind of promotions. That is why it is important for you to segment your own customer.
22. Email Campaigning:
Email Campaigning helps you connect directly with your customers. By this, you can segment your customers and provide the information about your product or any other information direct. In addition to this, you can send information related to your discount. Like new collection, cell, coupon etc. also to direct customers.
Branding here means to set up one of your images in the customer’s mind. It includes the people of the company, tagline, voice, structure etc. The most accurate way of branding is to figure out why you are in the first position in the market in front of your customers. The best example of branding in today’s time is cold means Raymond A Complete Man, Godrej Cupboard etc.
24. Agile Marketing:
This means of marketing means to generate a trust in the customers. For this, you can use customer surveys, customer data analysis, etc.
25. Affiliate Marketing:
If you want to target many customers soon, then you can use this marketing method. Under this, you affiliate with other companies for marketing your company. Provide them commissions for the customers they create for you. Everyone knows Affiliate Marketing. This Types of Marketing Strategy will help your business to grow.
26. Augmented Reality Marketing:
This is an extraordinary type of marketing and it is more expensive than other marketing methods. Today every service provider is searching for an option to reach customers in different ways in order to attract them. For example, due to the news of a recent disaster in the product, due to the news of bad news. Maggi came out through social media and television and chose the option of marketing in this manner.
This is some Types of Marketing Strategy which helps you so much to grow your Business.
Conclusion: You can use any of these Types of Marketing Strategy methods for your business. It depends entirely on your business type and your location, which method you choose. But before reaching any decision, you should make a perfect plan for your business and move on accordingly. So that you can achieve fair success in your business.