Most Common Frameworks and Models Used in Marketing

Marketing and advertisement are two different words with similar meanings. Now every person can make his own little business. It is up to the person and the idea for developing a business. If you are one of those, who are starting your own business, marketing is the arena that you should focus on. If your product is good and it’s not valued right, it is because of poor marketing. Visual representation is the core of successful marketing. Businesses use different marketing strategies to sell their products. Marketing is necessary for implementing those strategies. A framework or model of marketing will show the insights of the business. It will show the strategy plan and a vision of reality. There are many frameworks and models available. You can choose the one that is good for you. In this article written by experts of a dissertation help firm, you can find a few of the handiest frameworks and models highlighted below;

Customer Experience:

The basis of this framework is on ‘customer experience’. What they like, what they don’t and their preferences. Some customers like things that are cheap, and less expensive. Some customers like things that are quality, and they don’t mind paying extra for that. It all depends on personal choice. You can use customer experience as the promotion strategy. It will attract more customers. And more people will find it useable. The goal of every business is to have customer satisfaction and personal growth.

Customer Value Management:

The basis of this model is the ‘drivers’ for customer value. This framework promises a good quality product with easy availability. You can achieve a good strategy by selecting service as an important driver. Try to imagine a situation, you are in the market for buying an apple jam. There are 4 different brands of apple jam. One of them is cheap, and one of them is high quality at a moderate price. The company mentions calories on the front chart. The other jam with cheap price does not provide any information. The customer’s trust develops on the one with the information and moderate price. People are now interested in easy service and quality. It will help you in planning a successful strategy.

Models:

The marketing model helps you decide the strategy of marketing. It helps identify the tools for improving output. It also helps you understand your strengths and learning potential. These models will help you in making an effective advertisement strategy.

7Ps Model:

This model includes the product, price, place, promotion, people, process, as well as physical evidence. It will help the company identify important points in each step of the advertisement. People are the center of this model. What they like, their income power, their likeness, and preferences of the products are highly important factors. You can build an effective plan of marketing with these tools. 7Ps in this term are, product, price, place, promotion, people, as well as physical evidence. For example, if you have a cosmetic product you will address the right people such as women in your strategy. The price of the product should be set by the economic condition of people in the concerned area. The evidence of a product’s application also ensures a good advertisement.

STP Model:

STP stands for segmentation, targeting and positioning. This model will help you make a specific strategy. There are different groups in the society on basis of age, gender and ethnicity. One strategy will not work for every group. For example, if you are selling a hair dye brand, the old and young people will see it in a different way. You need to make a strategy that works for everyone. This model will identify the different groups. Current days, personalized products are being used. This model has gained attractiveness in less time. At the start of a plan, identify the different characters of each group. Then make a different plan for the groups. Advertisement content should also be different.

AIDA:

Awareness, interest, desire action. This is also a customer-centered model. It identifies the thinking of the customer, what he wants and likes. When a person goes to the market to buy a product, these are the four steps that he goes through for purchase. The customer first focuses on awareness of the product that he needs to buy. He will analyze all the brands and products in the market to find one. Then he will find the one with his interest and desire. If the product is up to his desired interest and awareness of the product, he will buy it. You can make the product or advertise it on basis of these steps.

Porter’s Five Forces:

The basis of this model plan is to compete for through it in the market. Often, one product has different brands. For example, Apple jam is being produced by 5 different businesses, local and large. Each of the businesses has a specificity of the product. The unique thing about each of the products will face competition. The rival company can make their advertisement planning by analyzing those products. Porter’s five forces model provides the elements to analyze indicators like the power of suppliers, buying power, and highlight the customer’s identity. The threat of substitute and new entry also risk the market value of the product.

SOSTAC Model:

According to dissertation writers of an academic firm, this model describes the situation, goal, tactics, analysis and control of the product. It can help make a plan of advertisement that will benefit the customer service. The enhanced customer service is good for the business output. SOSTAC model pinpoints the important features of the customer and product relation. It builds a strategy that is long term and oriented on analysis. If you are making a small business advertising this is necessary. The strategy of advertisement should be goal-oriented to find long term benefits.

Conclusion:

Every type of business, local or international, small to large, needs a marketing plan. Successful marketing is the key to company success. Different economic and marketing models can predict success rates. These models also provide a framework of the company strength. The customer’s perception, likeness, affordability, awareness and desire can predict the product’s pricing. You can choose the relevant model that suits your business needs.

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