Top 5 Types of Marketing Activities You Need
October 22, 2023Marketing activities are actions an individual or organization undertakes to develop and promote their products or services. While there are many different types of marketing activities, some seem to stand out from the rest by bringing great results for various businesses and standing the test of time. In this article, I’ll show you five types of such marketing activities and five companies that tested them in real-life conditions. 1. Top 5 Types Product-market fit Achieving product-market fit (PMF) means making sure a product can satisfy an existing demand in a market with high potential. Basically, a telltale sign of achieving PMF is when people are willing to buy your product, actively use it, and recommend it to others.
Why it’s important
There are two reasons: Without product-market fit, it’s unlikely a company can build a great product that answers consumers’ needs and wants. Without such company data a product, no marketing tactics can generate sufficient demand to support the company. To illustrate, a company tries to sell a new type of hydrogen car, but there are no hydrogen stations nearby. If that’s the case, what kind of marketing can convince a customer to buy that car? That product just won’t fit the market. That is why achieving PMF matters the most. Without it, you can’t build sustainable growth, and scaling anything simply won’t make sense. You’ll just waste your time and money. In other words, a PMF is to a business what foundations are to a house.
Example Finding product
Market-fit is how Spotify started—a business valued at $54 billion today. Instead of going for a “big bang” launch with a perfect. Product that has all the features people USA B2B List dream of, Spotify creators. Decided to build a minimum viable product (MVP) and test. Top 5 Types It similar to how a scientist tests a hypothesis. An MVP is a “product development” phase in which you test whether the core functionality of your product can satisfy the market demand by interacting with real users. And here’s the approach they took, explained in a drawing by Henrik Kniberg (he was involved in the early stages of the company). This MVP was designed to test the idea of streaming music and its performance with consumer technology.