What are the Strategies of Advertising in Microeconomics?

If you want to know what a marketing strategy is and what marketing strategies are out there and which are most commonly used, here we will leave it to you to understand what we think and what they all work for.

What are the Strategies of Advertising in Microeconomics?

Marketing Strategy

Profit marketing activities are usually referred to in the context of the process of defining a marketing strategy as a component of the strategy itself. Most authors define marketing strategy as an adaptive mechanism, a form of harmony between the entity and the environment. Strictly speaking, this strategy represents guidelines for operating entity to achieve its long-term goals. Marketing strategies should be defined according to vision, mission, and general business goals / strategies based on an analysis of the environment. In order for nonprofits to reach their goals and survive in the market, they need to learn to use strategic planning techniques when creating marketing activities. Marketing strategy can be addressed as a strategy process by which a company uses its resources to achieve a specific goal; increase sales or stand out from the competition. There are certain elements necessary to stick out in a marketing type of business. They are specific, meaning they relate to something specific that you want to achieve. There are measurable tools to see if this goal is being achieved. It is achievable because you need a goal that is actually achievable. It is relevant because it has to be relevant to the company. In the marketing strategy, the company works on the crucial pillars to establish the company: a product or service or something that we sell or offer to our customers, Ad prices, including discounts, offers, etc. location of sale or distribution, this also includes various sales channels, both physical and online.


Market Segmentation Strategy

It became very popular a few years ago and it is true that there is a reason for it. Many can sign up for the site, but everyone is grouped by age, hobbies, tastes. If you implement a marketing strategy that makes the customer lose target, you will not succeed. Therefore, the segmentation strategy is based on dividing these audiences into smaller groups with common interests, ages, etc. For example, imagine you have an online game store. They have a lot of subscribers, but some have kids and some don't (they're more like collectors). The ads where you give each child a discount on that second set won't work. In this case, you will lose your customers.


Competitive Strategy

In this case, it is the competitive aspect that determines the type of action to be taken. To do this, we try to offer more or cheaper offers based on competition with the aim of climbing positions.

The quality of the products and / or services you provide, the price, and the interest or availability of the products are some of the aspects that competition can affect. Not to mention promoting and improving the company's reputation.


Product Placement Strategy

This is the last thing we talked to you about before and that is that branding is better known to consumers. In this case, it is a strategy that you should consider in order to improve the sales and visibility of your clients or customers.


Digital Marketing Strategy

We can incorporate a variety of marketing strategies into digital marketing, but they are all internet based. Introverted marketing that attracts users and turns them into customers with useful content. Email, which means someone wants to contact these users. You need to be careful because if you suddenly start using the data without the consent of the other party, it can be seen as a data breach for something unauthorized.


Content Marketing Strategy

Content marketing strategy used to be something like digital marketing. But it has become so important and famous that it is now viewed as a thing in its own right.

Depending on the use of resources, in order to successfully improve the status and reputation of the brand through texts. That's why blogs, infographics, e-books are so important and can connect with people. Now, while you might think anyone can write, the truth is that only those who "master" the words can write texts that empathize with the users.


The Loyalty Strategy (The Least Used Types of Marketing Strategies)

It has long been suggested that customer support is just as important or more important than giving up right after delivery. This is called loyalty and includes maintaining your feedback as well as offering promotions, discounts, loyalty cards and more. In other words, customer service is more personal based on the relationships that exist in traditional (physical) businesses.


Ambassador Brand Strategies (The Latest Types Of Marketing Strategies)

This is the last thing that makes a lot of noise because it somehow turns the customer or user into a brand ambassador by promoting your products and / or services in exchange for better services and prices, gifts or even financial rewards. That way, since you have followers of that person, you can reach more people.

Remember, however, that marketing is a science that has evolved and changed a lot over the years, so new strategies keep popping up and others being forgotten.


References

BOOK: Columbia University Department of Economics Discussion Paper Series - Kyle Bagwell, 1,3,6 ... Discussion Paper No.: 0506-01 Department of Economics Columbia University New York, NY 10027 August 2005
WEB: Actualidadevommerce - Actualidadecommerce, 1 ... https://www.actualidadecommerce.com/hr/vrste-marketin%C5%A1kih-strategija/

There are no comments

Leave your comment