Marketing is an essential part of any business. Without it, businesses would be unable to reach potential customers and grow their customer base. But what exactly are the different types of marketing strategies? Let’s dive in and find out.
1. Product-Oriented Strategies
Product-oriented strategies focus on increasing the sale of a product or service by emphasizing its features and benefits. This type of strategy can be used to create brand awareness, attract new customers, and increase sales. Examples include television commercials, print advertising, radio ads, direct mail campaigns, billboards, and other forms of advertising.
2. Price-Oriented Strategies
Price-oriented strategies are focused on providing consumers with a value proposition that makes them want to purchase the product or service at a lower price than they would normally pay for it. This type of strategy focuses on finding ways to offer customers discounts or special pricing in order to entice them into making a purchase. Examples include coupons, loyalty programs, bundling services and products together for discounts, and offering free trials or samples of the product or service being sold.
3. Promotion-Oriented Strategies
Promotion-oriented strategies are all about getting the word out about your business or product through promotional activities such as giveaways, contests, events, trade shows, press releases, public relations campaigns, influencer marketing campaigns, and more. These types of strategies help create brand awareness and visibility for your business while simultaneously increasing sales.
4. Place-Oriented Strategies
Place-oriented strategies involve increasing visibility through physical locations such as stores where customers can go to buy products or services in person instead of online or through another digital channel like social media platforms or websites. This type of strategy helps businesses expand their reach by making their products available in multiple locations so that customers can easily access them when they need them most. Examples include retail stores in malls and shopping centers as well as pop-up shops located around urban areas during busy seasons such as holidays or special occasions like music festivals.
Marketing is an essential part of any successful business plan no matter what kind f product or service you offer; without it, you’re not likely to bring in many customers at all! There are 4 different types of marketing strategies you should know about: product-oriented marketing strategies; price-oriented marketing strategies; promotion-oriented marketing strategies; place-oriented marketing strategies. Each one has its own advantages when used correctly so make sure you use each one strategically for the best results! Remember that no single strategy will work for every business so it’s important to experiment with different tactics until you find the ones that work best for your organization! Good luck!