Marketers face challenges in understanding the market that they are trying to sell, four main types of marketing are used, these are:
- Product marketing
Product marketing is where a company finds out all about its products. This may involve researching the marketplace to see who is using their product and why they are using it, who is buying it and for what reasons. It could also include looking at competitors’ products, pricing models, or even how customers like to be marketed too.
Product marketing is essential in gaining an understanding of all the information around a specific product. You need to know how it is different from other products, who might use it why pricing models, and what the company can do to market their product better.
- Business-to-business (B2B)
Business-to-business (B2B) marketing is a type of marketing where a company focuses on selling its goods or services directly to another business. The most common example of this is a company trying to sell you IT security, they are not targeting you as an individual but your business. They would contact the company that manages the IT for your organization and then try to push their services onto them. B2B can also be used in sales contracts between companies or even when hiring another company to do work for you.
- Business-to-consumer (B2C)
Business-to-consumer (B2C) marketing is a common type of marketing that many people are familiar with. It is where the company focuses on selling their good or service to an individual rather than another business. The most common example of this is when you go into your local supermarket and take out your wallet. This would be an example of B2C marketing since the company is trying to sell you their goods directly.
Sales contracts, hiring another business for services, and even purchasing software are also examples of B2C marketing.
- Consumer services
Consumer services are a type of marketing where a company focuses on selling its service directly to an individual rather than to another business. Some examples that you might be familiar with are things like restaurants, hairdressers, and car mechanics. When you go to a restaurant they want you to eat their food, when you go for a haircut or paint your nails they want to sell their service directly too.
Marketers today use countless different forms of marketing techniques from all four types of marketing. Understanding the different types of marketing and how they work will help you as a marketer to know exactly how best to reach your audience.
Marketing is not an easy task and requires many different types of knowledge. Understanding the different forms of marketing helps you as a marketer to know how best to reach your audience. To be the most effective marketer, you need to learn as much as possible about each type of marketing.