There are many “Types of Marketing Strategy in 2020” In today’s time, it is very easy to start a business by spending money, it is difficult to reach your thinking and attract people towards you.
Marketing and promotion are the things through which you can make your products and services accessible to the people and inform people about it.
Although there are many ways of marketing available, you need to choose the right date by looking at the size and type of your business. And to some extent, your marketing method also depends on your budget and your product or service.
Marketing Strategy Definition
Mainly marketing is the way by which people are familiar with your business to fulfill their needs and desires. There are many such instances around us, in which people have a very good business plan, but due to not getting the right marketing, they cannot reach the people and fail.
In order to make your business successful, it is necessary that you come out of your scope and reach your thinking to people and create a customer base for yourself. Advertising, selling, and promotion is a part of marketing, but marketing is not limited to them, it is related to many more.
Types of Marketing Strategy in 2020
6 P’s of Marketing:
Product: By product we mean here the item or service that you provide to your customers. When choosing a service as your business, you do not need to worry about features like its packaging and labeling, but for this, you have to take special care of branding and quality.
If you want to make a product accessible to your customers, then you will need to take care of its packaging, labeling, branding, and quality. Apart from this, you also have to take great care of your product safety.
Price: Price is the price of any goods or services that the customer offers in exchange for the goods or services. While deciding the price of any of your goods or services, You have to take care of other competitors available in the market. But if your product is the best and unique, then you can earn a good profit in your mind.
This fund of competitive price also fails for some luxury products. The price of cars like Audi and Mercedes is much higher than other cars available in the market. But it does not matter 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.
If you like to read about Tiktok Strategy in 2020 then you have to go with Tiktok Viral Marketing Strategy.
Trending Marketing Strategies 2020
Direct retailing to the customer: In this way, you can open a direct store or other outlet and offer your service or product to the customers.
In this case, the price of the product or service is relatively low because in this case the cost incurred in the middle channels is saved and the profit is received by the merchant himself.
Selling goods through a wholesaler: The wholesaler is the middle link through which the object passes from one person to the other. When you expand the scope of your business, you need a wholesaler.
Franchise: Franchise is very important in today’s time, earlier the scope of trade could be increased only through a wholesaler for goods. But now it has become possible to increase the scope of services through special training and tricks.
Examples of successful franchises like Javed Havibs, McDonnell’s franchisees, Pizza Hut, etc. are present in front of us.
Retail Online: Nowadays online marketing is very much in trend, through this you can provide your goods or service to your customer in a direct online way.
Nowadays it is very successful especially for goods, due to which the customer has more variety and choice.
Apart from all these, you can also use a distributor, consultant or agent to sell your product.
Promotion: This is the most important part of marketing, with the help of this you convey your product or service to the customers.
Nowadays we have many promotion methods 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 get your business better identified.
Peepal: Hereby Peepal we mean your supplier, distributor, wholesaler, stack holder, and your employees, not your customers. All these people are a part of your team in your business and everyone has an equal share in the success of your business.
Process: Customer service and marketing processes are a very important part of your business success. Ordering new stock on time in the marketing process.
This includes reaching the customer on time, collecting feedback from your customer and regular analysis of sales and financial reports. If any of these goes wrong then both your market and business are affected.
Whenever you start a new business and think of marketing methods for it, all those methods go around these 6 things.
But it is always on everyone’s mind how to market their business? What would be his methods? To solve this problem of yours, we are giving you some ways of marketing which will work for you.
Trending Marketing Strategy
Cause Marketing: This kind of marketing refers to creating some reasons for your customers about your product or service so that they choose your product or service over any other attractive offer.
The best example of this is car companies like Audi and Mercedes, whose companies do not use traditional methods of marketing for marketing, yet they have a good market available.
Employee Marketing: Many businesses consider their employees as their potential customers and brand ambassadors. Believing in this fact, some people give their employees a discount for their products in the form of benefits. And when the employees are satisfied with these products and services, they also promote it and help in spreading your business.
Business to Consumer Marketing
In this type of marketing, the company stays in touch with its customers directly and Direct only offers its products and services to the customers. In many circumstances, it operates its business both online and offline.
All marketing strategies are made according to customer data. In this, you need to identify your customer completely, as he says, what is his choice, how much is his income and how much money can he spend for you, etc.
Business to Business Marketing (B2B Marketing)
It is slightly different from Business to Customer Marketing, in which one business provides its services to another business, and in this kind of marketing, unlike business to customer marketing, marketing involves many channels and each one also has to take several designs related to channel price, method of buying and selling, mode of payment, storage, etc.
Direct Selling: In this type of marketing, you come in direct contact with your customers and make them directly aware of the benefits, features, and features of your product.
The best way in this type of marketing is to create a group of your customers and inform them about your product and attract your customers here and sell them your product.
In this type of marketing, the cost of the middle channels also gets saved and the business owner gets more benefits. Companies like Avon and Amway are very good examples of this, who have achieved success by creating a different market and customer in this way.
Co-branding and Affinity Marketing
It is true for any business that your competitors distribute to your customers, but it is also absolutely true that there are many such businesses with which you share your customers. For example, if a company offers online coaching on a subject, its customers can be customers of a company selling study material.
In co-branding or affinity marketing, two companies come together and do business with customers. Because they are not direct competitors of each other, they come together and give better competition to their competitors.
Arn Media: I think everyone is very confused about the media term, media is a very important thing for marketing, but there are many ways, such as:
- Branded media is the media that a company creates for the purpose of informing, entertaining or busy people about its product.
- Paid media can be any kind of advertisement, which is done by taking money. It completely depends on your budget, product, and your location, what kind of paid media you want to use.
Ern Media Contrary to all This:
Free media is the medium, its main means is public relations. It is also sometimes used through newspapers, magazines or blogs. Here you will be confused with the fact that it costs money to advertise through newspapers or magazines.
The answer will be that advertising costs through these means, But when you publish your news by these means, your work is appreciated, then it does not cost money and you also get publicity. Along with this, public confidence in the publicity made by Arn Media also increases.
Point of Purchase Marketing:
By selling point of sale or point of sale marketing, we mean attracting customers to other products while selling any of your products. For example, when you go to a mall, some products are decorated near the billing counter, then the purpose of the seller at that time is to attract the customer towards those products.
Another example of this is when you have a blog on a site, the link to other blogs is given at the bottom, this is the purpose of the site owner to attract the reader to those blogs. This is a very good way of marketing.
Internet Marketing: There can be many ways of internet marketing, with this it is an effective and low-cost way of marketing in today’s time. In this, you can use any of the methods of social media, email, blogging, etc.
Any kind of marketing that you do through the Internet comes under Internet marketing. But for the promotion of your business, you have to make a proper strategy. With this, through various methods and techniques, you can also emulate these activities whether it is going in the right direction or not and whether it is right for your business or not.