After knowing the definition of marketing, the next step is to know the type of marketing. There are various types of marketing or marketing strategies available. Taking a marketing strategy includes analyzing your business needs, your target audience, and your product specifications.
The two main types of marketing strategies are:
- Business to Business (B2B) Marketing
- Business-to-consumer (B2C) marketing
The most common form of marketing is business-to-consumer (B2C) marketing. Let us know more about the types of marketing strategies.
- Paid Ads
It covers a variety of approaches to marketing. This includes traditional approaches such as television advertising and print advertising. One of the most well-known marketing approaches is internet marketing. It includes various methods such as PPC (Pay per click) and paid advertising.
2. Cause Marketing
Cause marketing relates the company’s services and products to social causes or problems. This is also known as cause-related marketing.
3. Relational Marketing
This type of marketing is basically focused on building customers. Improve existing relationships with customers and increase customer loyalty.
4. Undercover Marketing
This type of marketing strategy focuses on marketing the product while the customer remains ignorant of the marketing strategy. This is also known as stealth marketing.
5. Word of Mouth
It totally depends on what impression you leave on other people. This is traditionally the most important type of marketing strategy. Being heard is important in the business world. When you provide quality service to customers, they are more likely to promote you.
6. Internet Marketing
This is also known as online marketing and usually occurs over the internet. All marketing items are shared on the internet and promoted on various platforms through various approaches.
7. Transactional Marketing
Sales is the most challenging job. Even for the biggest retailers, selling is always difficult especially when there is a high volume target. But with the new marketing strategy, selling is not as difficult as before. In transactional marketing, retailers encourage customers to buy with shopping coupons, discounts, and major events. This increases sales opportunities and motivates the target audience to buy the promoted product.
8. Diversity Marketing
It caters to diverse audiences by adapting and integrating different marketing strategies. It covers various aspects such as culture, beliefs, attitudes, views and other special needs.
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