marketing-mix

What Is Marketing Mix And Why It Matters In Business

The marketing mix is a term to describe the multi-faceted approach to a complete and effective marketing plan. Traditionally, this plan included the four Ps of marketing: price, product, promotion, and place. But the exact makeup of a marketing mix has undergone various changes in response to new technologies and ways of thinking. Additions to the four Ps include physical evidence, people, process, and even politics.

Understanding marketing mix

While many understand marketing as “putting the right product in the right place, at the right price, at the right time,” few know how to implement this in practice.

Identifying the individual elements of a marketing mix and then creating robust plans for each allows a business to market accordingly.

It also allows a business to market to its strengths while minimizing or eliminating its weaknesses. 

At the very least, a marketing mix should include the four Ps of marketing:

Product

This can include a tangible good or an intangible service.

Businesses must understand their product or service in the context of the problem that it aims to solve.

If the product does not seem to address any problem, then the potential profitability of the product should be re-analyzed.

The target audience, or those who will buy the product, must also be identified.

Price

Price has a direct impact on how well a product will sell and is linked to the perceived value of the product in the mind of a consumer.

In other words, price is not related to what the business thinks the product is worth.

Thus, it is important to know what the consumer values and price it accordingly.

To a lesser extent, price may also be influenced by rival products and value chain costs.

Promotion

Promotion includes all marketing communication strategies, such as advertising, sales promotions, and public relations.

Irrespective of the channel, communication must be a good fit for the product, price, and target audience.

Place

Place describes the physical location in which a customer can use, access, or purchase the end product.

Determining where buyers look for a product or service may seem simplistic, but it has implications for marketing and product development.

For example, place determines which distribution methods are most suitable.

It also dictates whether a product needs a sales team or whether it should be taken to a trade fair to be sampled and advertised.

Other elements of an effective marketing mix

Conventional marketing mixes are product-centric, but services and other intangible goods are also commonplace for many businesses.

People, process, and physical evidence are three more Ps that these businesses should implement.

People

People refers to the staff who are directly and indirectly involved in marketing the brand.

Employing the best people for the job is crucial since people shape the direction of the brand and therefore the goals and values of the business.

Process

Process covers the interface between business and consumer, otherwise known as customer service.

Process is important because customers often give feedback on their service, which enables a business to improve its systems across the board.

Effective processes should make purchasing pleasing and simple while simultaneously increasing brand equity.

Physical evidence

Physical evidence describes anything that consumers see when interacting with a brand. Physical evidence can take the form of packaging, branding, and even the physical layout and design of retail spaces and shop fronts.

Physical evidence also extends to how staff dress and interact with customers and the possible impact that this has on sales.

Key highlights

  • Marketing mix refers to a suite of actions that a business uses to promote its products or services in the market.
  • Marketing mix should as a minimum have strategies devised for product, price, promotion, and place.
  • Service-oriented businesses should adopt a broader marketing mix, otherwise known as the seven Ps of marketing.

What is marketing mix modeling and why it matters to understand how to balance your marketing mix?

Marketing mix modeling (MMM) is a statistical method for evaluating marketing campaign effectiveness.

The method quantifies the impact of multiple marketing inputs on market share or sales which then determines how much to spend on each.

Understanding marketing mix modeling

Marketing mix modeling uses statistical analysis to analyze the past and future impact of different marketing tactics on sales or profit.

The approach is based on the popular 4 Ps marketing mix theory.

In essence, the purpose of MMM is to measure the past performance of a campaign and improve future marketing return on investment (MROI).

Conclusions drawn from the statistical analysis then determine how resources can be better allocated across various tactics, products, segments, and markets.

Marketing mix modeling utilizes the multi-linear regression (MLR) statistical technique to assess the relationship between dependent and independent variables.

The dependent variable is normally market share or sales, while the independent variable could be price, distribution, or ad spend for different channels.

The four phases of marketing mix modeling

Each MMM project has four distinct phases that we have explained in detail below.

Phase 1: Data collection and integrity  

In the first phase, the business collects data on the products to be analyzed, the desired timeframe, and the markets to be modeled.

The sales performance metric should also be quantified at this point.

Will it be volume, units, sales, or some other metric?

Brand margin rates and marketing spend should also be determined so that the MROI can be calculated later on.

MMM also requires the business to use data that will yield the best results. In other words:

  • Has the best available data been incorporated? 
  • Is the data consistent over the entire life cycle?
  • Are there multiple years of data to account for factors such as seasonality?

Before moving to the next phase, key project stakeholders should also hold a review session to ensure data integrity.

In some cases, data will have to be aggregated or cleansed before moving forward. 

Phase 2: Modeling

In the second phase, brand managers must collaborate with their internal analytics staff to discuss statistical details, specifications, and methods.

We noted earlier that a multi-linear regression is commonly used, but other methods such as time-series regression are also used. 

Ultimately, the method chosen will depend on the organization’s goals, data quality, and in some cases the entity providing the statistical analysis on behalf of the client.

Phase 3: Model-based business measures

Once the statistical analysis has been performed, it will produce output data that measures how each tactic impacts sales.

The data must also answer or address the overarching purpose of the project, with many organizations choosing to frame project purpose as questions such as:

  • What is the best marketing plan to maximize future net profits with respect to the current and future budget?
  • For a particular demographic, what are the most efficient or effective marketing tactics?
  • What is the impact of advertising on consumer price sensitivity?
  • Which competitor advertising campaign is having the most negative impact on sales?

Most MMM projects will also feature a pie chart showing the decomposition of sales where sales volume is broken down according to each tactic.

These charts separate two types of tactics:

  1. Core tactics – or those not controlled by the marketing team such as seasonality, distribution, weather, and competitive trade. Core tactics can also encompass the sales that would occur in the total absence of any promotional effort.
  2. Incremental tactics – or those that are controlled by the marketing team.

Once a decomposition of sales has been performed, the organization can calculate three important metrics:

  1. Effectiveness – which is determined by dividing the number of incremental sales by each marketing effort.
  2. Efficiency –  where incremental sales are divided by the expenditure of each tactic. This is normally the total media spend, and
  3. Marketing return on investment – the MROI can be calculated by dividing the gross profit of each tactic by its total spend.

Phase 4: Optimization and simulation

In the final phase, MMM outputs are transformed into inputs for future marketing campaigns. 

Simulations help the organization model the impact of a new tactic before it is used in a real-world scenario.

They also enable teams to determine the best combination of tactics that will enable them to achieve campaign goals.

Marketing mix modeling examples

In the past few decades, marketing mix modeling has been adopted by several Fortune 500 companies such as Kraft, The Coca-Cola Company, Pepsi, AT&T, and Proctor & Gamble.

While there has been particular interest from consumer packaged goods (CPG) companies, others now use MMM because of the increased prevalence of companies providing these specialist services.

Indeed, marketing mix modeling is popular in the retail and pharmaceutical industries because firms like Nielsen can provide syndicated data on stores, product categories, geographic markets, and distribution channels.

What’s more, the increased availability of time-series data has also seen MMM incorporated into industries such as telecommunications, financial services, hospitality, and automotive.

However, in these industries, it is acknowledged that marketing mix modeling is still in its infancy and will require further standardization to be effective.

MMM case study for Facebook advertisers

Facebook (now Meta) is one of several modern platforms that offer a family of services and apps that have dynamic and nuanced advertising needs.

Since consumer preferences are in a constant state of flux, this makes it difficult for brands to assess the impact of Facebook advertising compared to traditional channels such as television and print.

A standard marketing mix modeling project assesses data from two or three years. But for online social platforms, data over this time span may become outdated.

To counteract this tendency, Facebook recommends advertisers analyze data over a 6 to 12-month period.

They should then adjust their methods to account for the statistical power that is sacrificed when analyzing a shorter time frame. 

Professional services company Accenture ran multiple MMM analyses in 2021 for disruptor brands requiring a reliable and cost-effective system to optimize their promotional efforts and produce actionable and granular results.

How was this achieved?

Tailored data was first sourced from Facebook, Instagram, and Audience Network, which considered standard engagement metrics such as clicks but also paid impressions.

Data were then integrated with machine learning techniques such as the Bayesian belief network to analyze potential synergies between multiple channels.

This involved analyzing the relationship between six independent variables (video, display, Facebook app, organic search, Instagram, and paid search) and their dependent online and offline channels.

The results of the analysis showed how various marketing channels could drive impacts across other channels. A few of the more significant results are listed below:

  1. Drivers of paid search – paid search (78%), offline drivers (10.9%), and organic search (5.5%).
  2. Drivers of Facebook app – Facebook app (87.6%), offline drivers (7.4%), and display (4.0%).
  3. Drivers of Instagram – Instagram direct (87.9%), video (6.0%), and Facebook app (3.7%).

In summary, Accenture found that disruptor brands that focus their resources on social, organic search, and offline channels could better impact paid search and, ultimately, increase their web traffic.

Key highlights on marketing mix modeling

  • Marketing mix modeling uses statistical analysis to analyze the past and future impact of different marketing tactics on sales or profit. The approach is based on the popular 4 Ps marketing mix theory.
  • Each marketing mix modeling project should have four distinct phases: data collection and integrity, modeling, model-based business measures, and optimization and simulation.
  • MMM is popular among consumer packaged goods companies such as Kraft, The Coca-Cola Company, Pepsi. It is also useful for brands advertising on social media platforms such as Facebook where markets and consumer behavior are more dynamic.

Amazon marketing mix case study

How does Amazon balance product, price, promotion, and place to create and sustain its competitive advantage?

Let’s delve into Amazon’s marketing mix below.

Product

Amazon offers a diverse selection of products to maintain its status as the foremost company in online retail.

These products support the company’s mission and vision and, thanks to continued expansion, can now be found in industries such as cloud infrastructure, database services, content production, artificial intelligence, gaming, and pharmaceuticals.

Amazon’s core product remains its eCommerce platform where the company sells private-label and third-party items to consumers across categories such as consumer electronics, art, home appliances, sports and outdoors, car accessories, jewelry, and home improvement. 

Through its highly successful Amazon Prime membership program, the company offered free expedited delivery and discounted priority and residential express delivery.

Prime members also receive access to exclusive discounts and Amazon’s video, music, and e-book platforms.

Price

Amazon primarily uses market-oriented pricing to attract customers to its eCommerce platform.

Prices for the company’s private label Amazon Basics range are based on similar products sold by competitors. 

As a retailer with a near-global presence, Amazon also uses the price discrimination strategy to vary prices for identical products according to region.

For example, the price of a Samsung television in Spain may be different to the price offered to consumers in the USA.

This enables the company to adjust prices based on local market conditions, consumer preferences, and perceived product value. 

More generally speaking, Amazon uses technology to set and adjust prices based on the time of day, season, and competitor activity.

It also cleverly prices its Prime membership option to attract customers who want to take advantage of deals and discounts.

Promotion

In addition to marketing to broader audiences, Amazon also markets to individuals by analyzing their shopping habits and purchase behavior.

Using this information, it strives to turn one-time visitors or buyers into repeat, high-value, long-term customers.

To attract repeat purchasers, the company frequently promotes its fast delivery.

Amazon promotes is various products and services with ads on other websites, newspapers, billboards, television, and social media.

The Amazon Affiliate Program – one of the largest in the world – is also a vital promotional channel for the company with around 1.235 million affiliate sites advertising or reviewing products on the Amazon website.

Place

Amazon is primarily an online business that reaches customers on Amazon.com and its various region-specific derivatives. 

However, the company does operate in the real world to some extent. Its acquisition of Whole Foods Market in 2017 allowed it to establish a bricks-and-mortar supermarket presence.

Amazon also operates several Amazon Fresh and Amazon Go stores, with the latter a chain of convenience outlets without cashiers where consumers pay for goods using an app.

In August 2021, Amazon announced it would open several new physical retail stores to extend its reach across electronics, home goods, and clothes.

Many see this move as a way for the company to own as much of the retail industry as possible.

What are the 4 types of marketing mix?

The four main elements of the marketing mix are:

What is 7 P's marketing mix?

The 7 P’s marketing mix is an extension of the traditional marketing mix. In a 4 Ps marketing mix, you get Product, Price, Promotion, and Place. In a 7 Ps marketing mix variation, you get three other elements:

Why is marketing mix important?

A marketing mix is critical as it enables companies to structure an effective marketing strategy by understanding the main channels that can be leveraged to build a viable business.

In some instances, some channels will be more critical in a marketing mix strategy.

Over time, it will be critical to balance out various channels as part of the marketing mix to build a solid business model.

Visual Marketing Glossary

Account-Based Marketing

account-based-marketing
Account-based marketing (ABM) is a strategy where the marketing and sales departments come together to create personalized buying experiences for high-value accounts. Account-based marketing is a business-to-business (B2B) approach in which marketing and sales teams work together to target high-value accounts and turn them into customers.

Ad-Ops

ad-ops
Ad Ops – also known as Digital Ad Operations – refers to systems and processes that support digital advertisements’ delivery and management. The concept describes any process that helps a marketing team manage, run, or optimize ad campaigns, making them an integrating part of the business operations.

AARRR Funnel

pirate-metrics
Venture capitalist, Dave McClure, coined the acronym AARRR which is a simplified model that enables to understand what metrics and channels to look at, at each stage for the users’ path toward becoming customers and referrers of a brand.

Affinity Marketing

affinity-marketing
Affinity marketing involves a partnership between two or more businesses to sell more products. Note that this is a mutually beneficial arrangement where one brand can extend its reach and enhance its credibility in association with the other.

Ambush Marketing

ambush-marketing
As the name suggests, ambush marketing raises awareness for brands at events in a covert and unexpected fashion. Ambush marketing takes many forms, one common element, the brand advertising their products or services has not paid for the right to do so. Thus, the business doing the ambushing attempts to capitalize on the efforts made by the business sponsoring the event.

Affiliate Marketing

affiliate-marketing
Affiliate marketing describes the process whereby an affiliate earns a commission for selling the products of another person or company. Here, the affiliate is simply an individual who is motivated to promote a particular product through incentivization. The business whose product is being promoted will gain in terms of sales and marketing from affiliates.

Bullseye Framework

bullseye-framework
The bullseye framework is a simple method that enables you to prioritize the marketing channels that will make your company gain traction. The main logic of the bullseye framework is to find the marketing channels that work and prioritize them.

Brand Building

brand-building
Brand building is the set of activities that help companies to build an identity that can be recognized by its audience. Thus, it works as a mechanism of identification through core values that signal trust and that help build long-term relationships between the brand and its key stakeholders.

Brand Dilution

brand-dilution
According to inbound marketing platform HubSpot, brand dilution occurs “when a company’s brand equity diminishes due to an unsuccessful brand extension, which is a new product the company develops in an industry that they don’t have any market share in.” Brand dilution, therefore, occurs when a brand decreases in value after the company releases a product that does not align with its vision, mission, or skillset. 

Brand Essence Wheel

brand-essence-wheel
The brand essence wheel is a templated approach businesses can use to better understand their brand. The brand essence wheel has obvious implications for external brand strategy. However, it is equally important in simplifying brand strategy for employees without a strong marketing background. Although many variations of the brand essence wheel exist, a comprehensive wheel incorporates information from five categories: attributes, benefits, values, personality, brand essence.

Brand Equity

what-is-brand-equity
The brand equity is the premium that a customer is willing to pay for a product that has all the objective characteristics of existing alternatives, thus, making it different in terms of perception. The premium on seemingly equal products and quality is attributable to its brand equity.

Brand Positioning

brand-positioning
Brand positioning is about creating a mental real estate in the mind of the target market. If successful, brand positioning allows a business to gain a competitive advantage. And it also works as a switching cost in favor of the brand. Consumers recognizing a brand might be less prone to switch to another brand.

Business Storytelling

business-storytelling
Business storytelling is a critical part of developing a business model. Indeed, the way you frame the story of your organization will influence its brand in the long-term. That’s because your brand story is tied to your brand identity, and it enables people to identify with a company.

Content Marketing

content-marketing
Content marketing is one of the most powerful commercial activities which focuses on leveraging content production (text, audio, video, or other formats) to attract a targeted audience. Content marketing focuses on building a strong brand, but also to convert part of that targeted audience into potential customers.

Customer Lifetime Value

customer-lifetime-value
One of the first mentions of customer lifetime value was in the 1988 book Database Marketing: Strategy and Implementation written by Robert Shaw and Merlin Stone. Customer lifetime value (CLV) represents the value of a customer to a company over a period of time. It represents a critical business metric, especially for SaaS or recurring revenue-based businesses.

Customer Segmentation

customer-segmentation
Customer segmentation is a marketing method that divides the customers in sub-groups, that share similar characteristics. Thus, product, marketing and engineering teams can center the strategy from go-to-market to product development and communication around each sub-group. Customer segments can be broken down is several ways, such as demographics, geography, psychographics and more.

Developer Marketing

developer-marketing
Developer marketing encompasses tactics designed to grow awareness and adopt software tools, solutions, and SaaS platforms. Developer marketing has become the standard among software companies with a platform component, where developers can build applications on top of the core software or open software. Therefore, engaging developer communities has become a key element of marketing for many digital businesses.

Digital Marketing Channels

digital-marketing-channels
A digital channel is a marketing channel, part of a distribution strategy, helping an organization to reach its potential customers via electronic means. There are several digital marketing channels, usually divided into organic and paid channels. Some organic channels are SEO, SMO, email marketing. And some paid channels comprise SEM, SMM, and display advertising.

Field Marketing

field-marketing
Field marketing is a general term that encompasses face-to-face marketing activities carried out in the field. These activities may include street promotions, conferences, sales, and various forms of experiential marketing. Field marketing, therefore, refers to any marketing activity that is performed in the field.

Funnel Marketing

funnel-marketing
interaction with a brand until they become a paid customer and beyond. Funnel marketing is modeled after the marketing funnel, a concept that tells the company how it should market to consumers based on their position in the funnel itself. The notion of a customer embarking on a journey when interacting with a brand was first proposed by Elias St. Elmo Lewis in 1898. Funnel marketing typically considers three stages of a non-linear marketing funnel. These are top of the funnel (TOFU), middle of the funnel (MOFU), and bottom of the funnel (BOFU). Particular marketing strategies at each stage are adapted to the level of familiarity the consumer has with a brand.

Go-To-Market Strategy

go-to-market-strategy
A go-to-market strategy represents how companies market their new products to reach target customers in a scalable and repeatable way. It starts with how new products/services get developed to how these organizations target potential customers (via sales and marketing models) to enable their value proposition to be delivered to create a competitive advantage.

Greenwashing

greenwashing
The term “greenwashing” was first coined by environmentalist Jay Westerveld in 1986 at a time when most consumers received their news from television, radio, and print media. Some companies took advantage of limited public access to information by portraying themselves as environmental stewards – even when their actions proved otherwise. Greenwashing is a deceptive marketing practice where a company makes unsubstantiated claims about an environmentally-friendly product or service.

Grassroots Marketing

grassroots-marketing
Grassroots marketing involves a brand creating highly targeted content for a particular niche or audience. When an organization engages in grassroots marketing, it focuses on a small group of people with the hope that its marketing message is shared with a progressively larger audience.

Growth Marketing

growth-marketing
Growth marketing is a process of rapid experimentation, which in a way has to be “scientific” by keeping in mind that it is used by startups to grow, quickly. Thus, the “scientific” here is not meant in the academic sense. Growth marketing is expected to unlock growth, quickly and with an often limited budget.

Guerrilla Marketing

guerrilla-marketing
Guerrilla marketing is an advertising strategy that seeks to utilize low-cost and sometimes unconventional tactics that are high impact. First coined by Jay Conrad Levinson in his 1984 book of the same title, guerrilla marketing works best on existing customers who are familiar with a brand or product and its particular characteristics.

Hunger Marketing

hunger-marketing
Hunger marketing is a marketing strategy focused on manipulating consumer emotions. By bringing products to market with an attractive price point and restricted supply, consumers have a stronger desire to make a purchase.

Integrated Communication

integrated-marketing-communication
Integrated marketing communication (IMC) is an approach used by businesses to coordinate and brand their communication strategies. Integrated marketing communication takes separate marketing functions and combines them into one, interconnected approach with a core brand message that is consistent across various channels. These encompass owned, earned, and paid media. Integrated marketing communication has been used to great effect by companies such as Snapchat, Snickers, and Domino’s.

Inbound Marketing

inbound-marketing
Inbound marketing is a marketing strategy designed to attract customers to a brand with content and experiences that they derive value from. Inbound marketing utilizes blogs, events, SEO, and social media to create brand awareness and attract targeted consumers. By attracting or “drawing in” a targeted audience, inbound marketing differs from outbound marketing which actively pushes a brand onto consumers who may have no interest in what is being offered.

Integrated Marketing

integrated-marketing
Integrated marketing describes the process of delivering consistent and relevant content to a target audience across all marketing channels. It is a cohesive, unified, and immersive marketing strategy that is cost-effective and relies on brand identity and storytelling to amplify the brand to a wider and wider audience.

Marketing Mix

marketing-mix
The marketing mix is a term to describe the multi-faceted approach to a complete and effective marketing plan. Traditionally, this plan included the four Ps of marketing: price, product, promotion, and place. But the exact makeup of a marketing mix has undergone various changes in response to new technologies and ways of thinking. Additions to the four Ps include physical evidence, people, process, and even politics.

Marketing Myopia

marketing-myopia
Marketing myopia is the nearsighted focus on selling goods and services at the expense of consumer needs. Marketing myopia was coined by Harvard Business School professor Theodore Levitt in 1960. Originally, Levitt described the concept in the context of organizations in high-growth industries that become complacent in their belief that such industries never fail.

Marketing Personas

marketing-personas
Marketing personas give businesses a general overview of key segments of their target audience and how these segments interact with their brand. Marketing personas are based on the data of an ideal, fictional customer whose characteristics, needs, and motivations are representative of a broader market segment.

Meme Marketing

meme-marketing
Meme marketing is any marketing strategy that uses memes to promote a brand. The term “meme” itself was popularized by author Richard Dawkins over 50 years later in his 1976 book The Selfish Gene. In the book, Dawkins described how ideas evolved and were shared across different cultures. The internet has enabled this exchange to occur at an exponential rate, with the first modern memes emerging in the late 1990s and early 2000s.

Microtargeting

microtargeting
Microtargeting is a marketing strategy that utilizes consumer demographic data to identify the interests of a very specific group of individuals. Like most marketing strategies, the goal of microtargeting is to positively influence consumer behavior.

Multi-Channel Marketing

multichannel-marketing
Multichannel marketing executes a marketing strategy across multiple platforms to reach as many consumers as possible. Here, a platform may refer to product packaging, word-of-mouth advertising, mobile apps, email, websites, or promotional events, and all the other channels that can help amplify the brand to reach as many consumers as possible.

Multi-Level Marketing

multilevel-marketing
Multi-level marketing (MLM), otherwise known as network or referral marketing, is a strategy in which businesses sell their products through person-to-person sales. When consumers join MLM programs, they act as distributors. Distributors make money by selling the product directly to other consumers. They earn a small percentage of sales from those that they recruit to do the same – often referred to as their “downline”.

Net Promoter Score

net-promoter-score
The Net Promoter Score (NPS) is a measure of the ability of a product or service to attract word-of-mouth advertising. NPS is a crucial part of any marketing strategy since attracting and then retaining customers means they are more likely to recommend a business to others.

Neuromarketing

neuromarketing
Neuromarketing information is collected by measuring brain activity related to specific brain functions using sophisticated and expensive technology such as MRI machines. Some businesses also choose to make inferences of neurological responses by analyzing biometric and heart-rate data. Neuromarketing is the domain of large companies with similarly large budgets or subsidies. These include Frito-Lay, Google, and The Weather Channel.

Newsjacking

newsjacking
Newsjacking as a marketing strategy was popularised by David Meerman Scott in his book Newsjacking: How to Inject Your Ideas into a Breaking News Story and Generate Tons of Media Coverage. Newsjacking describes the practice of aligning a brand with a current event to generate media attention and increase brand exposure.

Niche Marketing

microniche
A microniche is a subset of potential customers within a niche. In the era of dominating digital super-platforms, identifying a microniche can kick off the strategy of digital businesses to prevent competition against large platforms. As the microniche becomes a niche, then a market, scale becomes an option.

Push vs. Pull Marketing

push-vs-pull-marketing
We can define pull and push marketing from the perspective of the target audience or customers. In push marketing, as the name suggests, you’re promoting a product so that consumers can see it. In a pull strategy, consumers might look for your product or service drawn by its brand.

Real-Time Marketing

real-time-marketing
Real-time marketing is as exactly as it sounds. It involves in-the-moment marketing to customers across any channel based on how that customer is interacting with the brand.

Relationship Marketing

relationship-marketing
Relationship marketing involves businesses and their brands forming long-term relationships with customers. The focus of relationship marketing is to increase customer loyalty and engagement through high-quality products and services. It differs from short-term processes focused solely on customer acquisition and individual sales.

Reverse Marketing

reverse-marketing
Reverse marketing describes any marketing strategy that encourages consumers to seek out a product or company on their own. This approach differs from a traditional marketing strategy where marketers seek out the consumer.

Remarketing

remarketing
Remarketing involves the creation of personalized and targeted ads for consumers who have already visited a company’s website. The process works in this way: as users visit a brand’s website, they are tagged with cookies that follow the users, and as they land on advertising platforms where retargeting is an option (like social media platforms) they get served ads based on their navigation.

Sensory Marketing

sensory-marketing
Sensory marketing describes any marketing campaign designed to appeal to the five human senses of touch, taste, smell, sight, and sound. Technologies such as artificial intelligence, virtual reality, and the Internet of Things (IoT) are enabling marketers to design fun, interactive, and immersive sensory marketing brand experiences. Long term, businesses must develop sensory marketing campaigns that are relevant and effective in eCommerce.

Services Marketing

services-marketing
Services marketing originated as a separate field of study during the 1980s. Researchers realized that the unique characteristics of services required different marketing strategies to those used in the promotion of physical goods. Services marketing is a specialized branch of marketing that promotes the intangible benefits delivered by a company to create customer value.

Sustainable Marketing

sustainable-marketing-green-marketing
Sustainable marketing describes how a business will invest in social and environmental initiatives as part of its marketing strategy. Also known as green marketing, it is often used to counteract public criticism around wastage, misleading advertising, and poor quality or unsafe products.

Word-of-Mouth Marketing

word-of-mouth-marketing
Word-of-mouth marketing is a marketing strategy skewed toward offering a great experience to existing customers and incentivizing them to share it with other potential customers. That is one of the most effective forms of marketing as it enables a company to gain traction based on existing customers’ referrals. When repeat customers become a key enabler for the brand this is one of the best organic and sustainable growth marketing strategies.

360 Marketing

360-marketing
360 marketing is a marketing campaign that utilizes all available mediums, channels, and consumer touchpoints. 360 marketing requires the business to maintain a consistent presence across multiple online and offline channels. This ensures it does not miss potentially lucrative customer segments. By its very nature, 360 marketing describes any number of different marketing strategies. However, a broad and holistic marketing strategy should incorporate a website, SEO, PPC, email marketing, social media, public relations, in-store relations, and traditional forms of advertising such as television.

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