Marketing strategy is a process which helps an organization to put single-mindedness effort using its narrow resources on the openings to increase profits and accomplish a feasible competitive advantage.
In this article, let us look at some of the frequently used strategies to promote a brand and in turn maximize profit.
Surrogate Marketing Strategy
For some products direct advertising or direct display on TV and Print media is prohibited. Alcohol, Cigarettes and Tobacco are some examples of these types of products.
To promote these products the Parent company sometimes uses acceptable brand extension bearing same logo or design.
Essentially, it refers to using a company, logo, product or personality to spread awareness about another product or service
- Bagpiper is a famous alcohol brand in India. But in TV commercials Bagpiper Club Soda is shown in the place of the alcohol beverage.
- McDowell's No.l Platinum is another alcohol brand which is advertised via the surrogate product soda. Through soda commercials, the company is indirectly advertising their alcohol products.
- Royal Challenge is an alcohol brand of UB Liquor group. In the brand’s TV commercial, at the end of advertisement the brand name 'Royal Challenge' is displayed in bold letters while 'Music CDs' is shown in very small text.
- The brand is also advertised with the help of mineral water.
- Now it is also promoted through the IPL Tournament by placing a Team called Bangalore Royal Challengers.
Ambush Marketing Strategy
This is a Marketing strategy by rival brand, in a major event to link their products with probable customers without officially sponsoring the event or paying any money.
In short, competing brand doesn’t pay the sponsorship fees but manages to attract eyeballs at the cost of the main sponsors.
Direct “Ambush” Marketing
When a brand directly associates itself with an occasion by "making up" an association to the event that is real /authentic but does not involve monetary sponsorship.
Indirect “Ambush” Marketing
A brand conducts or sponsors an event that resembles the finesse of competitor brand’s event and hence competes with it for the Target Audience’s attention.
- Coca-Cola was the official sponsor of 1996 Cricket World Cup. During the event, Pepsi posted advertisements and commercials saying "nothing official about it“!!!
- Jet Airways started an ad campaign saying “We’ve changed”! To ambush the campaign, Kingfisher airlines came up with “We’ve made them change”! Interestingly, the campaign was further ambushed by Go Airways saying “We’ve not changed. We are still the smartest way to fly”!!!
- While launching its new Pantene shampoo, Procter & Gamble, came up with an intriguing commercial which said it’s a “mystery shampoo”. But even before the company can unveil their new shampoo, Hindustan Unilever ambushed them by coming up with a commercial that says, “There is no mystery, Dove is the No. 1 shampoo” for their own shampoo product.
Guerrilla Marketing Strategy
This is an Unconventional way of marketing to follow a conventional goal with maximum profit at minimum cost.
Guerrilla marketing creates an exclusive, appealing and thought-provoking idea to generate buzz, and in turn attracts more profit.
It mostly helps small business and entrepreneurs. In Guerrilla Marketing, investment for marketing is not Money but Time, Liveliness, and Creativity.
- Coca-Cola’s “Small World Machines” commercial is nice example of this strategy. In the commercial, there’s a live communications portal between people in India and Pakistan and shows that what unites them is stronger than what sets them apart.
Multi Level Marketing or MLM
MLM is a marketing strategy where sales men are compensated for the sales provided by them and for the sales of others they add to their group, creating a hierarchy payment level.
Independent salesmen of MLM referred to as distributors represent the company that offers the services or manufactures the products they sell. They are paid based upon the bulk of product sold by them and also for products sold by their down line organization.
- Herbal life