Marketing Strategy
Summary of the article “How to turn viewers into shoppers” is a business article published in Bloomberg business news week by entrepreneurship and small-business issues analyst Karen E. Klein. The article gives advice on how to turn people who take the business or the products for granted into potential consumers. The article gives more information on e-commerce as the major way of simplifying business and turning web viewers into customers. The article was developed as Karen was trying giving advice to two businesswomen who had failed to turn the many online business viewers of their products into customers (Karen, 2014).
However, she talks of scarcity, traditional and digital marketing strategy as the appropriate means a businessman or a company should employ to ensure that the former product viewers are currently the consumers. Nonetheless, the discussion below tends to give a detailed critical analysis of the marketing strategies as they were advised by Karen E. Klein in the Bloomberg business week article.Key points in the article Business people and different companies either basing on online or physical marketing strategies are challenged with the problem of limited customers. Moreover, people maybe knowing about the existence of the product on the market, but never got any influence or persuasion to buy it. The article mentions about different appropriate marketing strategies that have to be adopted to ensure that the viewers are turned into shoppers. The main points include scarcity, digital and traditional marketing and they are the key focus for the analysis.
Analysis of the key points Scarcity marketing is a new formal strategy embraced by most of the successful companies. The scarcity marketing strategy is where a company produces a quality product, makes it popular among a large population, but limits its access. The author of the article makes it clear that the business to have attention from the viewers, it should take some risks by testing options. Notably, this strategy is used by companies that produce luxury products that target a specific group of people that can enable it to make sustainable profits. For example, Apple Company is known by a large population worldwide because of the quality products they produce. Further, Apple limits access of its products to the only rich category of people due to the higher prices they charge, it compels people to buy its products to fit in that class. As a result, the company registers more sales that increase its profits to achieve productivity. Traditional marketing is among the significant strategies that producers employ to ensure an increase in sales of a given product.
Traditional marketing strategies involve the use of common means of informing the potential customers about the new products on the market. Accordingly, Television, Radio, and Print media are among the traditional strategies that are embraced by most of the companies regarding advertising a new product. Nonetheless, the increase in the population that has access to radio, television and print media has credited traditional marketing …
