1. Conversional Marketing
It is a strategy that involves developing a plan to convert Negative Demand into Positive Demand and eventually equal the positive supply level.
In the definition given, there are a few terms that we need to be well acquainted of and that is…
❖ Negative Demand - is a condition where all or most of the potential market may have no liking for the product or the service.
So obviously, the opposite of Negative Demand is Positive Demand, and the main objective of the Conversional Marketing Strategy is for the marketer to develop a plan in which the target market would actually like the product and purchase it thus, converting the negativity of the demand into a positive one which would actually attain the objective of the strategy.
2. Counter Marketing
Is a marketing strategy which involves attempting to “unsell” or destroy the prevailing demand of products and services that are intrinsically unwholesome.
Coming from the definition, is the word unwholesome which leads us to the next term which is…
❖ Unwholesome Demand - It is a state in which any demand is felt to be excessive because of undesirable qualities associated with the offer.
These products are usually under the “So-called” Vice products. These products which are in demand are considered to be excessive because they have undesirable qualities which could affect not only the consumer but also the public’s welfare.
It is a marketing strategy that attempts to discourage customers to patronize the product or service that outpaces the supply in either a temporary or permanent basis.
There are certain circumstances that the demand outpaces the supply this is called the…
❖ Overfull demand – It is a state in which demand exceeds the level at which the marketer feels able or motivated to supply it.
In this situation, the demand is higher than the supply. So instead of promoting the product and encouraging the target Market to purchase the product, the demarketing Strategy would execute the opposite activities subtly. They would execute the strategy by raising the prices, downgrading the quality, setting the promotions aside and limiting the convenience of the product.
4. Developmental Marketing
Is a marketing strategy that of effectively transforms Latent Demand into actual Demand
So from the definition, comes the term…
❖ Latent Demand- It is a state where a substantial number of people share a strong need for something that does not actually exist.
This strategy focuses more on the development of the product and the fulfilment of the latent demand. So that instead of wanting something that does not exist, the marketer would find a way to make and improve the products which the target market would actually demand. This comes in the form of investing in marketing research and product development to make sure that an existing latent demand would be fulfilled.
5. Maintenance Marketing
Is a marketing strategy that takes advantage of a Full Demand by conducting Maintenance Marketing Activities.
In this definition, we have the terms Full Demand and Maintenance Marketing Activities…
❖ Full Demand -It is a state in which the current level and timing of a demand is equal to the desired level and timing of this demand.
❖ Maintenance Marketing Activities – Are activities that require vigilance in spotting new forces that may threaten to erode this full demand.
So, this strategy is more about maintaining that point of equilibrium between the current level and timing of the demand and the marketer’s desired level and timing of the demand. Examples of this Maintenance Marketing Activities are keeping the prices right, keeping the sales force and dealers motivated, and keeping tight control over cost.
Is a marketing strategy that involves revitalizing the challenges of Faltering Demands based on the...