Here are the four types of marketing strategies that you can use to expand your business:
product/service promotion;
pricing strategies;
strategies for targeting specific markets;
marketing channels.
Product/Service Promotion
This marketing strategy focuses on promoting your products or services to your target market. It involves creating marketing collateral such as brochures, website content, product catalogues, and other forms of advertising. You will need to identify the key features and benefits of your products or services and create a compelling message that will persuade your target market to buy from you.
- Pricing Strategies
Pricing is a key element of any marketing strategy. You need to make sure that your prices are competitive and set at a level that will allow you to make a profit. There are several pricing strategies that you can use, such as value-based pricing, which involves setting your prices based on the perceived value of your products or services rather than the cost of production.
- Strategies for Targeting Specific Markets
Marketing to specific markets is a key strategy for businesses of all sizes. You need to identify your target market and create a marketing mix that is tailored to their needs. This may involve using different marketing channels or using different messages for different segments of your target market.
- Marketing Channels
The way you reach your target market is through marketing channels. There are several channels that you can use, such as online advertising, direct mail, and public relations. You need to select the channels that are most effective for reaching your target market and that will allow you to deliver your message in a way that is most likely to result in sales.
