Marketing techniques refer to the application of various tools such as print media, advertising etc to achieve the marketing objectives of an organization. Traditional marketing techniques include newspaper or magazine ads or direct mail. In continuation with that and due to the advancement of technology Internet marketing techniques are gradually becoming popular. Internet marketing techniques involves use of websites, e-mails etc.
A few of the commonly known marketing techniques adopted by firms are mentioned below:
- a. Personal Selling/ Direct Marketing: The technique of selling which involves an individual salesperson to sell a product, service or solution to a client is called personal selling. The benefits of the product offerings are matched to the specific needs of a client. Personal selling involves the development of longstanding client relationships. Personal selling tends to use fewer resources, and pricing is often negotiated. This technique is mainly adopted when the products offered are fairly complex (e.g. financial services or new cars) as client needs specific information due to involvement of large sums of money. There are no channel intermediaries i.e. distributors, retailers or wholesalers involved.
- b. Advertising: Advertising is an important marketing technique. Advertising is a mass medium of sending product related messages. The advert and the messages are designed to meet the specific needs of the target audience. The cost incurred is relatively low as a large number of people are targeted with the same message.
- c. Public Relations (PR): Public Relations (PR) generates goodwill about the organisation by sending out purposeful communications to organisations publicists. They are the stakeholders of the firms and public relations aims to build and maintain a positive perception of an organisation in the mind of its publics.
- d. Sales promotion: In order to promote an increase in sales of a product or service firms undertake various initiatives. Few examples of popular sales promotions activities are:
- (a) One plus one free
- (b) Customer Relationship Management (CRM): Customers are offered incentives such as bonus points.
- (c) Free gifts
- (d) Discounted prices e.g. Budget airline, e-mail their customers with the latest low-price deals once new flights are released, or additional destinations are announced.
- e. Sponsorship: In order to create awareness about their brands firms often act as sponsors for major events across the nation. For examples a firm could sponsor a sports event. In return for sponsorship the name of the sponsor will be mentioned prominently on advertising billboards, publicity materials, programmes and other literature associated with the event. This will create further brand awareness and make the products more visible in the eyes of the consumers.
Above discussed are a few of the marketing techniques adopted by the firms. With the increase in competition, firms today are getting more innovative not only in terms of products but their marketing as well.