Types of Marketing
Traditional marketing has been in use for past many years but as the world is growing and changing so dynamically that we must need to know the kinds of marketing. There are so many marketing plans out there so it is very vital to know the type of marketing you are going to choose for your business to give the kick start to your business and ensure success.
As we have discussed the topic of Marketing earlier. So now before understanding the types of marketing let us go through the types of market in the marketing industry.
Types of Market
There are basically four types of market structure
In this market, the large number of firms compete with each other with the same product. This results in the optimum level of output in terms of prices and the quality of the product.
In this market, the large number of firms compete with each other with the slightly differentiated product. This allows the seller to charge a little higher price for the products.
Here a very small number of firms compete with each other. These firms can collaborate to drive up prices and ensure profit
In this market structure, there is only one firm which controls the entire market.
Now let us understand the Types of marketing
There are around 52 types of marketing. Here we will present you with some best marketing strategies needed to give the boost to your business.
Cause Marketing – This relates to a cause which both the company and the customer care for. For example, giving away some commission to the needy ones whenever you buy a product.
Relationship Marketing – This type of marketing focuses on building relationships with the customers rather than just selling the products. Customers who trust and love you will automatically buy the product from you.
Word of Mouth Marketing – Here you promote your services orally by meeting people one on one. This kind of marketing is very famous in network and referral marketing.
Call to Action Marketing – This is used in digital marketing where the web traffic is converted to leads through websites, infographics etc.
Seasonal Marketing – This is one of the great ways to make new and exclusive customers. Generally, people need a reason for shopping and these seasonal events can be a boon.
Online marketing – As the population is increasing, people are getting more inclined to the digital platform as they are getting everything at the touch of their hands. Online marketing means promoting your services through websites, social websites etc.
Freebie Marketing – This is also one of the good ways to promote as everyone loves free stuff.