8 Types of marketing strategies in 2020 to Grow Business

8 Types of marketing strategies in 2020 to Grow Business

There are different types of marketing strategies available. Picking up a marketing strategy includes analyzing the needs of your business, your target audience and specifications of your products.

The two main types of marketing strategy are:

  • 1. Business to business (B2B) marketing
  • 2. Business to consumer (B2C) marketing

The most common form of marketing is business to consumer (B2C) marketing. Let’s explore a bit more.

Following are the different types of marketing strategies available.

1. Paid advertising

This includes multiple approaches for marketing. It includes traditional approaches like TVCs and print media advertising. Also, one of the most well-known marketing approaches is internet marketing. It includes various methods like PPC (Pay per click) and paid advertising.

2. Cause marketing

Cause marketing links the services and products of a company to a social cause or issue. It is also well known as cause related marketing.

3. Relationship marketing

This type of marketing is basically focused on customer building. Enhancing existing relationships with customers and improving customer loyalty.

4. Undercover marketing

This type of marketing strategy focuses on marketing the product while customers remain unaware of the marketing strategy. It is also known as stealth marketing.

5. Word of mouth

It totally relies on what impression you leave on people. It is traditionally the most important type of marketing strategy. Being heard is important in the business world. When you give quality services to customers, it is likely that they’d promote you.

6. Internet marketing

It is also known as cloud marketing. It usually happens over the internet. All the marketing items are shared on the internet and promoted on various platforms via multiple approaches.

7. Transactional marketing

Sales is particularly the most challenging work. Even for the largest retailers, selling is always tough especially when there are high volume targets. However with the new marketing strategies, selling isn’t as difficult as it was. In transactional marketing the retailers encourage customers to buy with shopping coupons, discounts and huge events. It enhances the chances of sales and motivates the target audience to buy the promoted products.

8. Diversity marketing

It caters to a diverse audience by customizing and integrating different marketing strategies. It covers different aspects like cultural, beliefs, attitudes, views and other specs.ific needs.

CONCLUSION

Marketing strategies have made it much easier to promote products and services. They also limit the strategy to target an audience ensuring the proper advancement of the busines.

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