marketing strategies

• BENEFITS IF A BRAND SUCCEEDS IN THE MASS MARKET


  •Distribution levels close to 100% (all shops want your products).

  •Control over advertising and promotion.

  •Some degree of control over prices. (can’t be too greedy as it is the mass market)
• marketing strategies for mass markets

  Product:

  As many products are close substitutes, the successful business will develop a USP

  Price-

  •Prices in mass market are usually similar

  •Price leadership is common in mass market: the dominant business sets the price and the others follow
• another market strategies for mass market

  Promotion-

  Way to gain an edge in the absence of price competition.

  Use of advertising and promotion

  Place

  •In mass markets, businesses will use several channels to distribute their goods

  Businesses selling fast consuming goods will target supermarkets, wholesalers

  •The internet is also used to sell products to mass markets… and gave access to these mass markets to small business (you can distribute your products anywhere in the world)
• Marketing strategies for niche markets

  Product-Products will be designed to meet specific needs.

  Price-More flexibility about pricing: less competition so higher prices can be charged without losing market share.

  Customers will be prepared to pay higher prices
• Marketing strategies for niche markets

  Promotion

  •More targeted in niche markets

  •Businesses will need to identify their customer profile accurately to make the most of their advertising

  •Adverts are likely to be in specialist publications
• Marketing strategies for niche markets

  Place

  •More selectivity when choosing distribution channels

  •Use of the internet
• Marketing strategies for Business to business (b2b) and business to consumers (b2c) markets outbound

  BUSINESS TO business - Outbound marketing strategies : directing marketing material at potential customers (direct mail, targeted adverts in specialist publication.

  •Drawback of this strategy: people ignoring adverts, poor quality leads obtained
• Marketing strategies for Business to business (b2b) and business to consumers (b2c) markets inbound.

  •Inbound marketing strategies : attracting potential customers to websites when they are looking for suppliers
• Marketing strategies for Business to business (b2b) and business to consumers (b2c) markets

  •Businesses try to buy with no emotion and want to buy the best product for the best price with the best service: the key point is to understand customer needs
• How to develop customer loyalty

  communication

  Keeping customers informed in mass markets: national advertising campaign, reassuring adverts

  Communication helps to build a relation between the business and the consumer
• Developing customer loyalty


  CUSTOMER SERVICE-

  •A high quality service will make that customers will be more likely to buy again.

  Employees must be professional; dealing with matters promptly, providing an effective after sales service

  customer incentives

  •Rewards if you come back (loyalty cards)
• Developing customer loyalty


  PERSONALISATION -

  Some businesses will deal with their customers on a personal level

  Easier to deal at a personal level for small businesses

  PREFERENTIAL TREATMENT

  Usually for customers spending a lot of money