7 Types of Marketing Principles (With Examples)
By Indeed Editorial Team
Published August 4, 2021
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
Marketing principles are a foundational part of developing effective promotional strategies. Brands and businesses often use a combination of marketing principles to advertise and promote their products and services to a variety of audiences. As a marketing professional, understanding these principles can contribute to the success of your campaigns and help you make informed decisions about your promotional approach. In this article, we define and offer a list of seven marketing principles to consider using in your current strategies.
What are marketing principles?
Marketing principles are methods and techniques for promoting a product, service or brand. Organizations often use marketing principles to promote and position their products and services, hoping to increase revenue, drive sales, enhance brand image and improve customer retention. Depending on the specific marketing objective, organizations may use a variety of marketing principles independently or in combination.
Types of marketing principles
Below are seven different types of marketing principles with explanations and examples for each:
The price of a product or service can influence many elements of a business, from profit margin to the types of discounts and special offers you can offer your customers. Understanding how to price a product or service for maximum promotional benefit is an important step when considering marketing principles. Often, the price principle of marketing revolves around the primary idea that customers want to feel a product or service is worth what they pay.
Example: A shoe manufacturer prices their sneakers at $19.99, but the laces break after a few uses. This means customers may be less willing to purchase them. Another shoe company sells their sneakers for $40, but the laces remain intact after years of use. This means customers may be more willing to choose these shoes over the less expensive competition.
Promotion incorporates marketing efforts that ensure your target audience is aware of your products and services. It may involve brand awareness campaigns and advertisement strategies. The promotion principle involves communicating with your target audience through different channels and adjusting your messaging to match the communication style of different segments within your market.
Example: An online wine retailer sends its members a weekly newsletter. The verbiage in the newsletter may be slightly different for members who have recently purchased wine than for members who have gone longer without completing a purchase.
Process refers to the experience of purchasing products and services from start to finish. It's important to note the process of purchasing, receiving and using a product or service when considering marketing principles in order to ensure effective promotional strategy during each interaction with your target audience. The ease and satisfaction customers feel at the end of your process can greatly influence sales, customer retention and lead generation.
Example: A customer has a pleasant experience with an IT help center when they have a concern about a recently purchased software product. They leave a positive online review of the software company, which receives several views. This leads to an improved brand image and an increase in sales.
Related: What Is Holistic Marketing?
4. Physical evidence
Physical evidence refers to the elements your customers see when interacting with your brand or business. This includes both physical locations and digital platforms, like websites social media pages. The physical evidence principle of marketing is an important part of ensuring that each interaction your customers have with your organization, products or services makes a positive impression.
Example: An online clothing website is user friendly, attractive and easy to read. This allows its customers to enjoy browsing the selection of items, add more items into their cart and complete a large purchase.
The people principle of marketing refers to the employees and team members of an organization. This principle considers people to be living promotional tools with the ability to increase brand awareness, enhance brand image and provide excellent customer service. A marketing team made up of individuals with skills, talents and areas of expertise that align with your organization's objectives can contribute to the success of your promotional efforts.
Example: A car dealership hires a marketing strategist to lead their marketing team during a complex advertisement campaign. The marketing strategist has several years of experience promoting vehicle sales and helps the dealership increase their revenue by 15% after the campaign.
Products help marketing teams promote their offerings in a way that best relates to their target audience. Many marketing teams use this principle to consider their products and services from the perspective of their target audience. This can help provide insight about which benefits would be most effective when emphasized in a campaign. Questions that may help when thinking of your products and services from the perspective of your audience could include:
What are the customer's needs?
What is the quality of the product?
How is this offer different from similar offers?
How safe is this product or service?
Example: A company that sells car seats conducts market research and finds the majority of their customers care most about the safety of their product. They decide to emphasize the safety ratings of their car seat on their packaging, in television ads and in their monthly newsletter.
Place is a principle that refers to bringing your products and services to your target audience. In some cases, place refers to the location your offers are available for purchase. This could include a retail website or a traditional storefront. In other cases, place refers to the geographical location of your target audience. Understanding the ways in which your customers can make purchases and the areas in which they live can help you make marketing decisions that increase the accessibility of your products and services.
For example: A farming equipment retailer determines that most of its target audience lives in rural areas. It decides to build its stores in smaller towns and communities with large populations of farmers to increase the accessibility of the products.
Explore more articles
- FAQs About Working in HR
- Guide to Presentation Design (With Importance and Tips)
- How To Write Customer Service Emails (Plus Why It Matters)
- How To Use the Six Hats Thinking Tool in the Workplace
- How To Communicate Visually in the Workplace (Plus Tips)
- Psy.D. vs. PhD: Similarities and Differences
- Inside Indeed Job Market: 5 Things I Learned from José Andrés
- 8 Resource Management Best Practices (With FAQs)
- What is a Comptroller?
- What Is the Accounts Payable Turnover Ratio? Definition and Formula
- Learn About AngularJS
- 7 Tips for Taking an Online Class