Effective Marketing Strategies
In nowadays rapid competitive market, customers are surrounded by the various types of marketing strategies almost everywhere, everyday, and anytime. All companies are competing with each other to attract, convince, and create new customers while the ultimate goal is to turn the existing customers into loyal ones.
Only with a large number of loyal customers companies are able to guarantee a steady growth and revenue. When we talk about the effectiveness of the marketing strategies, the following question usually arises:
What should be the main objectives/aims of the effective marketing strategies?
Effective Marketing Strategies: The Objectives
Effective marketing strategies are those marketing strategies where their main objectives are:
1 ) Catching customers’ eyes by designing a creative message.
2 ) Catching customers’ mind by communicating the message.
3 ) Catching customers’ heart by developing the sense of love and appreciation towards the product/service.
When customers are developing some sort of love and appreciation towards the company’s product/service, this is the time where the company walks the path of an enjoyable success. This is when the company’s bright future is guaranteed and the company would be surrounded by a large number of loyal and supportive customers.
The main purpose of all marketing programs is to look “Attractive”; Attraction is significantly important in any stage of designing, developing, and implementing any type of marketing or branding programs.
So, what is the attraction rule?
Only those marketing plans with the most attraction to our target market are going to look bold, stay unforgettable, and favorable to our target market.
If you dig into marketing studies, you will realize that all of them are providing different tips and tools on how to look attractive in the eyes of customers. Most of us already know that the Marketing’s Four Ps which are product, price, promotion and place. ” Marketing Four Ps ” was first proposed by E. Jerome McCarthy (1964), and over time the Four Ps expanded to seven Ps. The three additional Ps are:
1 ) Physical Evidence
2 ) Process
3 ) People
Some other marketing resources focus on five marketing Ps instead of seven Ps or four Ps. Even though, all marketing Ps are important; but, in my point of view, the five marketing Ps are playing the most critical role in bringing success to the company’s marketing strategies. I have demonstrated these five Ps in the illustration below.
What I would like to add to these five marketing Ps is the word of “Attractive” at the beginning of each of them. And, when I say “Attractive”, I am referring to the whole package of the five marketing Ps, not only one, two or three of them; The whole package of your marketing mix strategies must be attractive.
And, it must be attractive to your customers.Here, I would like to emphasize on the word of “Target Market“. In fact, your marketing strategies must be attractive to your target market and not any one else.
Attractive Five Ps of Marketing
1) Attractive Product/Service
On top of everything the product and service of your company must be attractive to your customers. If anything about the design, description, benefits, and attributes of your product/service goes wrong; the entire of your marketing plan worth nothing. So, make sure that your product/service category, description, benefits, and attributes look attractive to your target market.
2) Attractive Promotional Strategies
When you are sure of the attractiveness of your product/service, now it is time for your promotional programs to fulfill their role of leading you to the success. Attractive and ultimately memorable promotional programs are what make your product/service unforgettable in the mind of customers. Integrated marketing communication tools (IMC) play an undeniable role in building strong and positive brand recognition. In planning, implementing, and controlling your marketing communication strategies you must dare to be creative, innovative, and different.
3) Attractive Pricing Strategies
The next importance goes to your pricing strategies. In fact, after you draw the customers’ attention to your product/service, price is going to be, in most cases, the first question comes into the mind of your customers. In establishing an attractive pricing strategies you should largely count on:
1) Firstly, your customers’ purchasing power.
2) Secondly, the amount of money your customers are willing to spend.
Finding out about your customers’ purchasing power and spending willingness are two areas of study where you need to do comprehensive and careful marketing research studies before making any firmed decisions.
4) Attractive People
People, people and people!
It is extremely important for your company to hire the most qualified and motivated professionals, train them, and retain them. Nothing is more interesting for customers rather than having an enjoyable interaction with the company’s personnel. Customers expect to be respected and to be appreciated for choosing your product/service. Only an appreciated and happy employee is able to create appreciative and happy customers. Thus, I would say, the main step in creating loyal customers is to create loyal and supportive personnel. Only the loyal personnel of your company are fully capable in turning a first time customer into a long-lasting and loyal customer. Therefore, invest in attracting motivated and talented professionals for your company. That is what makes your company attractive in the eye, mind and heart of your customers.
5) Attractive Place
While the people of your company are your company’s soul; the attractiveness of the “place”, where you meet up with your customers, is like an outfit for your company. Your place where you display your product/service or where you meet up with your customers must be always attractive, special, and more importantly consistent with your company’s brand personality and image. Customers should see, feel, and appreciate your company’s culture and values; once they walk into your company or distribution channels.
To sum up, I would say, in communicating your five marketing Ps with your customers stay up-to-date, creative, innovative, beneficial, and attractive to them. In this fashion, you can catch their eyes, stay in their minds, and win their hearts, at all times.