B Com Exam  >  B Com Questions  >  explain types of marketing Related: Meaning ... Start Learning for Free
explain types of marketing
?
Verified Answer
explain types of marketing Related: Meaning to Marketing, Marketing M...
Types of marketing strategies
There are different types of marketing strategies available. Picking up a marketing strategy includes analyzing the needs of your business, your target audience and specifications of your products.
The two main types of marketing strategy are:

1. Business to business (B2B) marketing
2. Business to consumer (B2C) marketing
The most common form of marketing is business to consumer (B2C) marketing. Let’s explore a bit more.

Following are the different types of marketing strategies available.
1. Paid advertising
This includes multiple approaches for marketing. It includes traditional approaches like TVCs and print media advertising. Also, one of the most well-known marketing approach is internet marketing. It includes various methods like PPC (Pay per click) and paid advertising.

2. Cause marketing
Cause marketing links the services and products of a company to a social cause or issue. It is also well known as cause related marketing.

3. Relationship marketing
This type of marketing is basically focused on customer building. Enhancing existing relationships with customers and improving customer loyalty.

4. Undercover marketing
This type of marketing strategy focuses on marketing the product while customers remain unaware of the marketing strategy. It is also known as stealth marketing.

5. Word of mouth
It totally relies on what impression you leave on people. It is traditionally the most important type of marketing strategy. Being heard is important in business world. When you give quality services to customers, it is likely that they’d promote you.

6. Internet marketing
It is also known as cloud marketing. It usually happens over the internet. All the marketing items are shared on the internet and promoted on various platforms via multiple approaches.

7. Transactional marketing
Sales is particularly the most challenging work. Even for the largest retailers, selling is always tough especially when there are high volume targets. However with the new marketing strategies, selling isn’t as difficult as it was. In transactional marketing the retailers encourage customers to buy with shopping coupons, discounts and huge events. It enhances the chances of sales and motivates the target audience to buy the promoted products.

8. Diversity marketing
It caters diverse audience by customizing and integrating different marketing strategies. It covers different aspects like cultural, beliefs, attitudes, views and other specific needs.
This question is part of UPSC exam. View all B Com courses
Most Upvoted Answer
explain types of marketing Related: Meaning to Marketing, Marketing M...
Types of Marketing:

There are several types of marketing strategies that businesses can use to promote their products or services. These strategies can be categorized into various types based on their approach and target audience. Some of the major types of marketing include:

1. Traditional Marketing:
Traditional marketing refers to the use of conventional advertising channels such as television, print media (newspapers, magazines), radio, billboards, and direct mail. This type of marketing has been in use for a long time and is still effective in reaching a mass audience.

2. Digital Marketing:
Digital marketing involves promoting products or services through digital channels such as the internet, social media, search engines, email marketing, mobile apps, and websites. It leverages technology to target specific demographics and measure the effectiveness of marketing campaigns.

3. Content Marketing:
Content marketing focuses on creating and distributing valuable, relevant, and consistent content to attract and engage a clearly defined target audience. This type of marketing aims to build trust and credibility by providing useful information rather than directly promoting a product or service.

4. Social Media Marketing:
Social media marketing utilizes social media platforms like Facebook, Instagram, Twitter, LinkedIn, and YouTube to reach and engage with the target audience. It involves creating and sharing content, running paid advertisements, and interacting with users to build brand awareness and drive conversions.

5. Influencer Marketing:
Influencer marketing involves collaborating with influential individuals or celebrities who have a large following on social media platforms. Brands partner with these influencers to promote their products or services to their followers, leveraging the trust and influence they have built with their audience.

6. Relationship Marketing:
Relationship marketing focuses on building long-term relationships with customers by providing personalized experiences and meeting their needs. It emphasizes customer satisfaction, loyalty programs, and customer relationship management (CRM) tools to create brand advocates and repeat business.

7. Guerrilla Marketing:
Guerrilla marketing involves unconventional and low-budget marketing tactics to create buzz and capture attention. It often includes creative and unexpected approaches such as flash mobs, graffiti, viral videos, or publicity stunts to generate brand awareness and word-of-mouth marketing.

8. Direct Marketing:
Direct marketing involves reaching out to potential customers directly without intermediaries. It includes strategies like telemarketing, email marketing, direct mail, catalogs, and door-to-door sales. This type of marketing allows for personalized communication and targeted messaging.

9. Event Marketing:
Event marketing involves promoting products or services through live events, trade shows, conferences, or sponsorships. It provides an opportunity for businesses to showcase their offerings, engage with potential customers, and generate leads in a face-to-face setting.

10. Referral Marketing:
Referral marketing relies on word-of-mouth recommendations from satisfied customers to acquire new customers. Businesses incentivize existing customers to refer their friends, family, or colleagues, creating a network of brand advocates who vouch for the product or service.

Conclusion:
These are just a few examples of the various types of marketing strategies available to businesses. Choosing the right marketing approach depends on factors such as the target audience, budget, goals, and industry. A well-rounded marketing strategy often combines multiple types to maximize reach and effectiveness.
Explore Courses for B Com exam
explain types of marketing Related: Meaning to Marketing, Marketing Management?
Question Description
explain types of marketing Related: Meaning to Marketing, Marketing Management? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about explain types of marketing Related: Meaning to Marketing, Marketing Management? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for explain types of marketing Related: Meaning to Marketing, Marketing Management?.
Solutions for explain types of marketing Related: Meaning to Marketing, Marketing Management? in English & in Hindi are available as part of our courses for B Com. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free.
Here you can find the meaning of explain types of marketing Related: Meaning to Marketing, Marketing Management? defined & explained in the simplest way possible. Besides giving the explanation of explain types of marketing Related: Meaning to Marketing, Marketing Management?, a detailed solution for explain types of marketing Related: Meaning to Marketing, Marketing Management? has been provided alongside types of explain types of marketing Related: Meaning to Marketing, Marketing Management? theory, EduRev gives you an ample number of questions to practice explain types of marketing Related: Meaning to Marketing, Marketing Management? tests, examples and also practice B Com tests.
Explore Courses for B Com exam
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev