With rapid advancement in science and technology, numerous new products related to different fields have been invented in the last few decades. A myriad of business organizations who produce and sell these products are constantly trying to find new ingenious ideas to increase their customer base. These business organizations are in constant battle with each other to win over the maximum share of the market segment. The main objective of this blog is to offer an insight in to some of the most popular marketing techniques in practice around the world:
Affiliate marketing– This is an extremely popular marketing procedure which involves a huge commercial venture hiring affiliates to promote its products. This strategy is implemented through internet marketing. Popular websites advertise the products of leading e-commerce websites on their web pages. The affiliate theme mainly involves four parameters i.e. customer, publisher (the hired affiliate), network (the affiliate services available) and merchant. The greatest advantage of this marketing strategy is that the merchant has to remunerate the publisher only for the business opportunities brought by him.
Niche marketing– Niche marketing refers to producing and promoting those goods and services which are meant only for a particular market segment. These products are not used by everyone. For instance the sports channels around the world are viewed only by sports lovers. The most expensive car brands are only meant for elite class people. The advantage of using the niche theme is that if properly implemented, a business enterprise can capture the entire or a large portion of the market segment.
Guerilla Marketing– This marketing strategy involves using unconventional promotional campaigns for using products and services. Some of the most popular guerilla marketing strategy are public demonstrations, free distribution of products, flash-mob presentations etc. The advantage of these using this strategy is that it is less expensive than some of the other marketing strategies and relies more on ingenious thinking.
Social media marketing– This strategy refers to using various types of social media like Facebook, Twitter, LinkedIn and Pinterest for marketing goods and services. In the past few years millions of people have joined social media websites around the world. The main function of these sites is to help people with common interests to bond with each other. If used intelligently, this process can prove extremely beneficial as it has unlimited scope with regards to attracting prospective customers. It is also less expensive than some of the other promotional methods.