In this article, we will discuss some of the most common types of marketing strategies in India, their benefits, and provide real-world examples of companies or brands that have used the strategy effectively.
Product-based Marketing
Product-based marketing focuses on promoting the features and benefits of a specific product or service.This strategy can be effective for companies looking to introduce a new product to the market or for those looking to differentiate their products from those of their competitors.
Example: "Maruti Suzuki promoting its new safety features in the car model Baleno"
Price-based Marketing
Price-based marketing, on the other hand, focuses on setting competitive prices for products or services in order to attract customers.This strategy is particularly useful for companies looking to increase market share or to target price-sensitive customers.
Example: "Flipkart's Big Billion Day Sale".
Place-based Marketing
Place-based marketing focuses on making products or services available in the right place, at the right time, and in the right quantity.This strategy is useful for companies looking to increase the accessibility of their products or services to customers.
Example: "McDonald's opening a new branch in a mall".
Promotion-based Marketing
Promotion-based marketing, as the name suggests, focuses on creating awareness and interest in a product or service through advertising, public relations, and other forms of promotion.This strategy can be effective for companies looking to create buzz around a new product or service, or for those looking to increase brand awareness.
Example: "Coca-Cola's Share a Coke campaign"
People-based Marketing
People-based marketing focuses on building relationships with customers and creating a sense of community around a product or service.This strategy is useful for companies looking to build a loyal customer base and to create long-term relationships with their customers.
Example: "Starbucks Rewards program".
Process-based Marketing
Process-based marketing focuses on improving the process of delivering a product or service to customers.This strategy can be useful for companies looking to increase efficiency and to improve the customer experience.
Example: "Swiggy introducing pre-order feature".
Performance-based Marketing
Performance-based marketing focuses on measuring and improving the performance of a product or service in order to meet customer needs.This strategy can be useful for companies looking to improve the quality of their products or services and to increase customer satisfaction.
Example: "Amazon's customer feedback and review system".
Personalization-based Marketing
Personalization-based marketing focuses on creating a personalized experience for customers through targeted messaging and offers.This strategy can be effective for companies looking to increase customer engagement and to build long-term relationships with their customers.
Example: "Myntra's personalized birthday discounts"
Digital-based Marketing
Digital-based marketing, as the name suggests, focuses on using digital channels such as social media, email, and mobile apps to reach customers.This strategy can be effective for companies looking to reach a wide audience and to increase the accessibility of their products or services to customers.
Example: "Nike's #JustDoIt campaign on Instagram"
Disruptive Marketing
Lastly, Disruptive marketing is a type of marketing that seeks to challenge the status quo and create a new market by introducing a new product or service that disrupts traditional market dynamics.It often involves challenging established industry leaders and finding new ways to reach and connect with customers. This strategy can be risky, as it requires a significant investment of time and resources, but it can also be a powerful way to differentiate a business and create a new market.
Example: "Dunzo - delivery app"
Overall, each of these marketing strategies has its own set of benefits and can be used effectively in different situations.
Overall, each of these marketing strategies has its own set of benefits and can be used effectively in different situations.
It is important to understand the target audience and the market conditions before deciding on a marketing strategy. A combination of different strategies can also be used to achieve the desired results. The right marketing strategy can help businesses to increase their market share, build a loyal customer base and achieve long-term growth.
It's important for businesses to stay informed about the latest marketing trends and to regularly evaluate and adjust their marketing strategies to stay competitive in the market.