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The disadvantage of transactional marketing is that though you may be able to sell your product quickly, you aren’t building any sort of standing relationship with your customers. If you want to succeed in business you must be able to build and maintain customer relationships. Repeat business is the recipe for success.
What is Transactional Marketing?
The focus of this method is getting Point of Sale transactions by exercising methods commonly referred to as the four P’s.
- Product – Making a product that meets the demands of the consumers.
- Pricing – Establishing a price that is both profitable and attractive to customers.
- Placing – Setting up an efficient distribution system for the product.
- Promote – Creating an appealing image and advertising it.
The most common place you see this type of marketing is when a company claims that their product X is better than anything offered by the competition. Sometimes these claims are unsubstantiated and rely only on their hype to catch the attention of prospective customers.
So what is the answer?
Relationship Marketing
This method can be applied when there are other products competing for customers to choose from and when there is an ongoing demand for the product or service offered. You need to focus on offering a good product and exemplary service to your customers. You want people to walk away thinking about the next time they will buy from you, or when they are going to tell all of their friends and family about what it is that you offer.
This is not to say that transactional marketing needs to be cut entirely from your arsenal of marketing techniques. It is still a necessary and essential tactic that should be used to build a client base. Even though the people you recruit from this type of marketing may not be repeat customers, if you treat them well and give them a good deal on a great product, they may carry your relationship marketing for you by word of mouth.
Learning all the ins and outs of business marketing can be overwhelming. To learn many of the absolute best marketing tactics that you can use to increase your success such as Transactional Marketing, consider taking classes or joining up with a program that can teach you what you need to know.
Jeremiah Tyson is an Internet Marketing Coach and Corporate Mentor for one of the Internets largest marketing schools. Specializing in Article Marketing, Social Network Marketing and a multitude of other Marketing Techniques, he trains both total beginners and seasoned professionals from all over the globe to achieve financial freedom through proven business techniques and continuing education to keep ahead of trends and remain on top of the competition.
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