Marketing Strategies

Marketing Strategies

In any business, marketing is always the trickiest part especially in the startup period because you never know what the target market reaction maybe. It is because of this that there an endless number of marketing strategies that can be applied. One of the key strategies that is most effective is market segmentation. In this strategy the organization identifies a specific segment of the market that can either be determined by factors such as age, life style, social status or the geographical position among other factors. The two main types of segmentation are psychographic segmentation and demographic segmentation (McLoughlin & Aaker, 2010).

Another strategy that has been found to be effective is the targeting and positioning strategy. This involves the identification of a specific set of buyers with similar characteristics and creation of an identity such as a low price organization. Branding has also been one the most effective tools and involves creation of outstanding and distinct features and characteristics which actually define a product or service. Other than these strategies there are others such as pricing strategies, distribution strategies, E- marketing, alliance marketing, promotional marketing, direct marketing and content marketing among others.

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