Management Notes

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Different Approaches of Marketing – 6 Major Approaches | Principles of Marketing

Different Approaches of Marketing

Different Approaches of Marketing

An important part of marketing involves identifying the needs and wants of customers, then creating and delivering products and services to meet those needs and wants. Different marketing approaches emphasize different aspects of the marketing process.
Several marketing approaches can be used by businesses to reach their goals. Here are some of the most common:

1. Commodity Approach:

In the commodity marketing approach, the physical characteristics of the product or service are emphasized. By using these physical characteristics, the marketer attempts to differentiate their product from those of its competitors. In this approach, the focus is on product quality, features, design, packaging, and branding.

Commodity approaches are often applied to products and services that are similar to competitors’. To differentiate their product from competitors in these situations, marketers must focus on the quality, design, or branding of the product. For example, Apple’s products are often considered to be of higher quality than those of competitors, and the company’s design aesthetic is another key differentiator.

The commodity approach is often used for products or services that are similar to those of competitors. In such cases, the marketer must differentiate their product in some way to stand out from the competition. This could be achieved by focusing on product quality, design, or branding.

For example, Apple’s products are often considered to be of higher quality than those of competitors, and the company’s design aesthetic is also a key differentiator.

The marketing strategy in the commodity approach revolves around highlighting the unique selling proposition of the product and its benefits to the customer. Product characteristics are emphasized and how they differ from their competitors’ products. In order to emphasize the benefits and unique features of the product, the marketer may use advertising, packaging, and other marketing tactics.

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