In This Post, Affiliate Marketing Is The Underlying Aspect Of These Targeting Strategies. A General Business Discussion Makes The Case.
On That Note, There Are Three Targeting Strategies In This Discussion. You Should Consider Each Of Them In Your Promotional Efforts. The Affilorama Platform Is Also Important:
1) Niche Marketing.
This marketing method targets one specific group. This group is called your niche market. So it is a smaller segment of individuals representing a larger market. The targeting strategies associated with this form of promotion are ideal for small businesses. The cost factor is low. And the return on investment, (ROI), can be quite note worthy. Big companies have to entertain higher marketing costs. Plus they must sustain a minimum sales volume in contrast.
Limited sales growth is the downside to this form of marketing. That is so in the traditional business arena. So this form of promotion can affect smaller companies. And can do so in negative manner in quick fashion if sales are declining. However, If you are considering direct selling or affiliate marketing as a business platform consider this. Niche marketing is the best of these three targeting strategies. In any case, the Affilorama platform is a great guideline for affiliate sales.
2) Mass Marketing.
This promotional approach applies to one specific product. And it also pertains to the worldwide market. Mass marketing is the term that describes this approach. The product is not the focus. But standardization of the product is. The thought process behind this approach is specific. It hinges on the idea that the needs of a given customer are the same. This is the assumption across the marketing spectrum. Businesses that take this approach benefit from large scale production.
This approach reduces the unit cost of a given product. So this permits the company to pass these savings on to the end user. However, the unit profit margin is also low for the most part. But having a large sales volume makes up for that situation. On the other side of the coin there is a primary disadvantage to this method. That has to do with the nature of today’s consumer. Product standardization continues to be less attractive to that individual!
3) Selective Marketing.
This form of marketing targets various groups. So it does this with the same product. However, the company must make adjustments to the product. Plus it must meet the needs of each group. So tailoring the product in such a manner means that the marketing mix has to vary as well. This impacts the sales risk directly. But it dos so in a good way. Differentiating the product spreads this risk. And It occurs across the various segments. This form of promotion has the following benefit.
The decline in sales in a given group is less likely to affect a given company in a bad way. Plus there is another positive outcome too. Research has shown that this marketing approach encourages increased customer loyalty. That is because the company goes the extra mile. Customer satisfaction is the goal. And the end user recognizes this aspect.The downside of this approach are higher marketing costs. In addition the company may confuse the customer. He or she has a number of brands to consider.