6 Types of marketing strategies all you need

Imagine that: you are in a situation where your company is doing great, but all of a sudden you require a new strategy to excel your growth .What strategies would you take to continue your success? Well, you don’t need to worry at all because I will give you the 6 types of marketing strategies but you also must know how to develop marketing strategies.

In this blog we are going to discover the most popular marketing strategies that are used by small to big companies and are proven to be effective when it comes to growing a business.

Lists of 6 Types of Marketing Strategies:

Internet Marketing:

All of us know that the world is becoming smaller and smarter because of the latest innovation in communication especially Internet. Internet has opened a new platform for many sectors and among them one of the most significant is business.

Today’s Businesses are using new marketing strategies, that is, internet marketing. Internet marketing is promoting or advertising company’s products or services over internet. There are various platforms in the Internet such as email, social media, websites and so on.

In this new market it is hard for new or old companies to survive. The businesses having online identity is the hero of today’s market.

Word-of-mouth marketing:

Word of mouth marketing is not a new kind of marketing style but it if often neglected by marketers. If a company seeks for long term sales and profit the company should go for word-of-mouth marketing.

Word-of-mouth can also be termed as referral marketing. In this marketing strategy, your customer becomes your marketing or promotional agent. Your customer will refer your products or services to their relatives, friends or some potential customers.

Words of mouth strategy can be useful in the all businesses but mostly effective in businesses like restaurant, retail shop etc.

Transactional marketing:

In transactional marketing the key to success is selling the products or services. The purpose of this strategy is not to aware customers about products but to sell the products. Companies who use this strategy provide discounts, coupons, gifts and many more to their customers.

Relationship marketing:

Companies who have many consumers can use this marketing idea to be benefited for long term. One of the core values of marketing is building relationship.

If you can build good relationship with your customer then they are likely to visit your business again. However, this strategy is hard and can take long time to implement as relationship building is not an easy job.

Mass marketing:

In this strategy, companies not only target one segment but all the consumers who have dynamic traits. Firms who have products or services for not only one segment but all the segments can use this strategy. For example, Coca-Cola can market for consumers of different ages, sex, religion and so on.

Seasonal marketing:

It is one of the easiest marketing styles. Carrying out your all marketing activities according to the demand of the consumers in a particular season or occasion is seasonal marketing. Example of seasonal marketing is advertising woolen clothes in winter season.

Niche marketing:

The meaning of niche is small or narrow. So niche marketing is marketing your products or services to small or narrow segment of the market. Doing marketing of shoes for men is marketing for larger market but doing marketing of shoes for handicapped men is niche marketing. Companies can be extremely benefited from niche marketing.

To conclude, above types of marketing strategies can be valuable and profitable to every business but it must be used properly according to the need and capability of businesses.