3 Basic Marketing Strategies Explained

Learn about 3 basic marketing strategies: product marketing, cause marketing & search engine marketing (SEM). Understand how they create permanent growth for your business & obstacles for your competition.

3 Basic Marketing Strategies Explained

Opportunity for differentiation relates to perceptions of quality, value, characteristics and functions. Companies can adjust their product strategy by varying their combination of quality, value, features and functions to meet the needs of a specific niche market. Business-to-consumer (B2C) marketing is the most common form of marketing. Cause marketing links a company's services and products to a social cause or problem, also known as cause-related marketing.

Internet marketing, or online marketing, combines web and email to advertise and drive e-commerce sales. Social media platforms can also be used to leverage brand presence and promote products and services. These efforts are normally used in conjunction with traditional advertising formats such as radio, television and press. Marketing combination is the set of tactical and controllable marketing tools that a company uses to produce a desired response from its target market.

It consists of everything a company can do to influence the demand for its product. It is also a tool to aid marketing planning and execution. An effective marketing strategy combines the 4 P's of marketing mix: product, price, place, and promotion. It is designed to meet the company's marketing objectives by providing value to its customers.

The 4 P's of the marketing mix have some weaknesses, as they omit or underestimate some important marketing activities such as services or packaging. Nowadays, many people expect companies to participate in charitable causes. You can get a lot of press for participating, which can result in new customers. A local artist, for example, has painted paper grocery bags that he is selling and all proceeds go to a selected charity.

You don't even have to go to the trouble of creating your own event; many charities have set up events where you can participate by becoming a sponsor. These 3 marketing strategies create permanent growth for your business and obstacles for your competition. A comprehensive marketing strategy covers the four P's of product marketing, price, place, and promotion. None of these strategies are going to attract hordes of customers overnight, but assuming you have a good product or service and work on them consistently, you should ideally see a gradual increase in customers and sales. Search engine marketing (SEM) is a tool that companies use to increase their website traffic through online advertising.

This strategic approach focuses on creating and distributing information relevant to the needs of potential customers in order to attract those who best align with your product or service and are most likely to buy it. The company that wins the largest market share and dominates the competition becomes the market leader. The ultimate goal of a marketing strategy is to achieve and communicate a sustainable competitive advantage over rival companies by understanding the needs and desires of their consumers. When a company puts the Social Marketing Concept into practice, social and environmental responsibility often comes into play. Conversational marketing methods often reduce the time shoppers spend in the sales funnel. SEO is achieved through many tactics that work together and is critical to an effective inbound marketing strategy.