General Types of Marketing Strategies
1. Direct Marketing
Direct marketing is a strategy where customers are contacted directly by a company or business. This type of marketing is often done online via social media sites, email, or text messages. Direct marketing is effective because it provides companies with a direct line of communication with their target audience. However, it does have some drawbacks including high costs and low customer retention rates.
2. Indirect Marketing
Indirect marketing is a strategy where a company or business contacts its target market indirectly. This type of marketing includes advertising, public relations, and word-of-mouth marketing. Indirect marketing is less expensive than direct marketing, but it is not as effective at reaching potential customers.
3. Market Research
Market research is a strategy that involves gathering information about a specific product or service before launching it. Market research helps businesses make informed decisions about whether they should launch a certain product or service. Market research may involve surveying current customers, analyzing competitors' products, or conducting focus groups.
4. Branding
Branding is a strategy that creates a unique identity for a company or business. A brand represents the values and personality of a company. Brands are developed over time through various branding strategies.
5. Advertising
Advertising is a strategy that communicates a message to consumers. Advertisements are commonly seen in print, television, radio, and digital platforms.
6. Public Relations
Public relations (PR) is a strategy that promotes a company's image and reputation. PR is often used in conjunction with marketing.
7. Word-of-Mouth Marketing
Word-of-mouth marketing (WOM) is a strategy that relies on recommendations from friends and family members. WOM is a powerful tool for promoting a business because people trust what their peers say.