If you have started a new business and are seeking ways to promote your product or service, mobile marketing can be a very useful tool for you. The factor that gives some companies an edge, in a highly competitive market, is sales forecasting. Offering incentives and gifts ensure that the customers feel elated using the services of a particular company. The exception, however, is that the company targets a new segment of customers, instead of catering to its existing loyal customers.
Lately, the internet and social media has created a huge number of marketing job opportunities. It also helps in enhancing the product portfolio of the company by introducing complimenting products in the market. In this Buzzle article, we shed light on the diversification strategy of marketing, whilst emphasizing on its types as well as the pros and cons that need to be taken into consideration.
And it is a fact that some of the most rational and price-conscious customers fall for this strategy. It is a pricing strategy that helps create a positive psychological impact on buyers and tempts them to purchase a product. Many people today are starting businesses online.
The diversification strategy of a company can include several plans, ranging from the development of a new product to licensing of new technologies, or a combination of these plans. Amazon, Starbucks, and Uber are a few names that millennials hold in high regard, and competition will only intensify as customers begin to expect the same out of every service provider, especially the hospitality industry player.
In the recent years, Internet network marketing has become the greatest buzz in the internet fraternity. Unlike advertising on TV or radio, using this mode of communication for marketing is much simpler. However, service companies have to uphold their business model “service” and if the service isn’t good then the company’s name isn’t good.