A marketing strategy helps you to understand your target customers so that you reach more audiences and plan everything on time to avoid unexpected circumstances in the future. Therefore you should choose and implement the marketing strategy based on your marketing goals and customer’s requirements.
1.Online/internet marketing strategy
Online /internet marketing means that a company or business uses the internet for marketing its products and services. Paid marketing,sponsored posts, guest posts, banners, video, written adverts, emails are all examples of online marketing.
2.Cause marketing strategy
This is the type of marketing when businesses and companies support social causes to raise funds and spread awareness, receiving marketing benefits like customer and brand loyalty in return. Ninety percent of customers say they would rather purchase from businesses and companies that support their social cause like breast cancer, anti-bullying, anti-suicide, anti-smoking and anti-homophobia.
3.Relationship marketing strategy
It is the art and the process of developing a long term relationship with customers. Nowadays the customer has all the power so businesses the principle that the customer is always right. It is about satisfying the needs and wants of customers, getting their feedback, and making the service/product better.
4.Digital marketing strategy
It is a strategy where businesses and companies target customers based on their previous interaction with the brand or their interests. It is a costly technique, but if planned well then it will give you better results.
Means that the business or company would use the internet for marketing its products and services. It is greatly similar to online/internet marketing strategy. Like online/internet marketing, e-marketing uses advertisements, banners, written ads, and email marketing.
6.Offline marketing strategy
Also goes by the name traditional marketing. Businesses and companies use televisions, radios, print media, billboards, pamphlets and newspapers for marketing.
7.Undercover marketing strategy
This form of advertising happens when businesses and companies advertise their product/service or brand without showing that they are marketing it. It is a manipulative marketing strategy.
8.Diversity marketing strategy
This is a technique that businesses or companies employ when they have to deal with a mixed population. It means creating different marketing plans for different customer segments. All based on their views, attitude, needs, beliefs and behavior.
9.Transactional Marketing strategy
In this marketing strategy retailers employ methods like discounts, coupons, special bundles, buy -one-get-one-free, and group offers to get more sales.
10.Word of mouth marketing strategy
Is based on the principle of making a good impression on customers. If the customers have a good experience with the business and company they would refer it to their friends and relatives who will do the same in return. Word of mouth creates a chain reaction that if it works it is the most interesting marketing strategy.
This is when a company chooses to make their products or service accessible to only a few customers. It is important to control how much product is available at one time. In many cases this is done because of the difficulty of acquiring raw materials or higher quality of the product. Rolls-Royce’s release of their Chinese edition car called Phantom sold quickly. While the cost of the car was higher than the cost of others, scarcity drove the desire and the price.
Each time a new product is created, customers have to be given a reason to make a purchase. Marketers are constantly creating new business ideas that keep their products in the heart and mind of the global consumers. Getting customers talk about your products and services is very important to growing awareness to your business.
By tuning into the various seasons that are important to your customers you can become more relevant in their life. For a retailer like Hallmark, Valentine’s Day represents a large portion of their business. Seasonal events offer a great way to meet new consumers. These events can sometimes be changes of weather or national holidays.