There are several different marketing strategies that you could implement to determine your success as a viable business, such as:

(a) DOMINANCE STRATEGY; which pushes you to propel your establishment to the top. These specific methods will categorize a company according to its “market shares.” For example: WINDOWS operating system dominates worldwide usage with about 92% market share, while Mac and Linux fail miserably in market share of that specific field.

MARKET DOMINANCE It is distinguished by four specific categories of concern: leader, follower, challenger, and niche.

1. Market leader The objectives are aimed at multiplying global exchange, safeguarding the leading market and expanding market share.

2. Market follower strategies strive to counterfeit the goods with the highest market share; For example: (Panasonic emulates Sony).

3. Market challenger strategies go after the market leader, companies of comparable size, and very small family businesses.

4. Market niche The strategies focus on various niches that are ignored by larger companies as a threat. (examples of that could be something like the Logitech computer mouse).

(b) INNOVATIVE STRATEGY:

Innovative marketing strategies are applied to manage corporations at the forefront of technology and new establishment procedures. Clearly, they dictate the professional replication rate of corporations with respect to new product innovation and growth.

INNOVATIVE MARKETING STRATEGIES consists of three separate classifications, which are:

1. PIONEERS

2. FIRST FOLLOWERS

3. LATE FOLLOWERS

These DESCRIPTIONS are related to what is known as (first mover advantage). For example, Amazon was the first to create an online book store. Subsequently, other stores such as Barnes & Noble began to market books online. Later, it appears that Amazon & Borders collaborated in their efforts to expand sales, leading Barnes and Noble to oppose that action by bringing more products online. In this representation, Amazon was the pioneer that makes Barnes and Noble the first followers. Once other bookstores got on board and decided they wanted to emulate this archetype, they were dubbed “late fans.” Today’s innovative marketing strategies incorporate express mail contests, featured reviews in publications, third-party journals, and out-of-home promotions.

GROWTH STRATEGIES:

GROWTH MARKETING STRATEGIES Focus your efforts on growing your business. Their goal is to expand purchasing power in current markets by focusing on repeat customers. Data drawn from the purchase history of repeat customers facilitates ways to measure future growth within the dynamics of that business. There are four specific classifications of the aforementioned strategies.

1. HORIZONTAL INTEGRATION,- try to expand sales effectiveness, decrease buying and selling price, allow merchandise ingenuity, and retail more of the same items.

2. VERTICAL INTEGRATION- facilitates a decrease in transportation costs, encompasses ambitious product margins and subsequent product margins; and introduces the downstream mapping.

3. FOLLOWING THE PATTERN- facilitates centralized upgrading of state-of-the-art products, corporate achievements, affiliation with like-minded companies, and licensing of contemporary products.

4. INTENSIFY THE GROWTH STRATEGY- Go across the market to expand allocation, gain loyalty from repeat customers, and develop binding motivation that focuses on your current customer base. An example of a growth strategy might be a rewards program for frequent buyers.

These are just a few of the options you can consider to grow a viable business and be successful in any type of business venture you come across. You can research any of these strategies in depth online and decide which one works for your specific needs and market goals.