What marketing strategies can I apply

To succeed in the market, companies must find a suitable marketing model. What is the definition of the so-called marketing model? What are the marketing strategies that companies can apply?

Marketing model definition
Marketing Model refers to various models that can represent the relationship between products, customers, profits, and markets. These models enable companies to understand their market positioning, how to manage customer relationships, and reach potential customers. Classic 4P marketing team, 7P marketing team, USP unique sales theory.

Each marketing model has unique features. Different industries and different companies should choose their own marketing model. The following will introduce the most widely used marketing model and marketing strategy in the market.

What are marketing strategies?
Marketing Mix - Marketing Strategy

7P Marketing Combination
7P stands for

Product Product: quality, features, timing
Price: Discounts, Payment Methods, Freebie Offers
Promotion Sales: Marketing, Branding, Public Relations
Place Access: Sales Channels, Locations
People: Training Methods, Attitudes
Process Process: IT Technical Support, Product Development
Physical evidence Physical display: product packaging, physical storefronts
The original 4P marketing team had only the first four items, and the 7P marketing team combination was 4P plus the last three items. 7P covers all the aspects that all companies need to include when thinking about marketing strategies. It is the easiest and most suitable marketing strategy for newcomers.

USP unique sales proposition
The USP - Unique Selling Proposition theory states that companies must clearly communicate their unique sales points to potential customers, telling customers where we are different and why we beat our competitors. This marketing strategy is simple but necessary, because companies must find their unique core values ​​to convince consumers.

BCG Boston Matrix
Boston Matrix Marketing Strategy

Boston Consulting Group Matrix is ​​a strategic method developed by Boston Consulting Group. Based on the market growth rate and relative market share, the products of the same company are divided into four categories, and the strategy for the product is determined according to different classifications.

Dogs Dogs: Low market growth rates and low market share can't bring considerable revenue to the company, and there is no hope for the future. Dismantling or selling such products.
Question mark Question mark: The market has a high growth rate but it has a relatively low market share. Because the market growth rate is high, there is much hope for the future. However, because the market share is low, it needs to spend a lot of money. If the investment is successful, it can become a star or Taurus product.
Stars Stars: High market growth rates and high relative market rates require a lot of money to maintain their leading position in the market, but if successful, they can become Taurus products.
Cash cow: With low market growth rate and high relative market share, this product is usually the company's leading business. The market is mature and the company is in a stable position. It only needs to spend basic business expenses to continue to make large profits.
Brand Positioning Map Brand Positioning Map
Brand Positioning Diagram - Marketing Strategy

Analyze the relative positioning of the brand in the market compared to competitors. This marketing model enables companies to think about how consumers view the brand.

It is worth noting that the brand positioning map points out that “how consumers view” the brand, not the actual condition of the brand, so if you think that your product belongs to a low-price, high-quality product, it is high in the brand positioning map. The price zone means that you should consider repurposing marketing strategies.

STP theory
STP-segmentation, targeting, and positioning marketing strategies divide the strategy into three steps.

Segmentation: Analysis of different customer groups in the market, different needs
Targeting Target: Choose your target audience
Positioning: Deliver brand value to a specific target audience
This marketing model focuses on product, market segmentation, and delivery of brand value. It is a simple and straightforward three-step process. It is a marketing strategy that every marketer must use to communicate brand ideas.

These are the five well-known marketing strategies derived from the marketing model. There are hundreds of marketing models in the world of marketing. The five samples we listed may not be the most suitable for your business. The most important thing is to find a marketing model that suits you!