Marketing is the most innovative zone in the business process of any company and majority of the brainstorming ideas that come in the way of research and development initiatives of any company come in the segment of marketing. Great many theories and revolutionizing ideas have been exercised in marketing and companies that have been in the leadership position is well known for their innovative marketing strategies. For developing the understanding of today's marketing management students it is a necessity to introduce some of the greatest marketing theories that rocked the world with their massive business potential. Here we would mention some of the greatest marketing theories that rocked the world in the recent times.
Brand Positioning Ideas byYoungme Moon
In 2005 marketing theorist Youngme Moon introduced the variations of brand positioning that differentiated the marketing theory from product life cycle thinking. He introduced three major variations of brand positioning, namely, Reverse Positioning, Breakaway Positioning and Stealth Positioning. His recommendation of these different types of brand positioning for different product categories and marketing objectives in relation to target customers presents one of the most innovative thinking among the greatest marketing theories that rocked the world.
Theory of the Second Best
This theory mainly concerns the welfare economic problem of the inability to satisfy multiple optimal conditions in a given moment. Canadian economist Richard Lipsey and Australian economist Kelvin Lancaster in their research paper in 1956 said that if one optimal economic condition cannot be satisfied then the second best solution can change the variables of the first optimal condition. This theory highly influenced modern marketing strategies and economic models for a long time.
Relationship based Marketing
The majority of the deeply penetrating marketing initiatives, strategies and practices have been centered on the ideas concerning relationship building with the client outside of the common framework of the sales, advertisement and brand positioning. This theory prioritizes relationship and bonding and making deeper inroad into the emotional and psychic factors of prospective clients. This theory is not only considered as one of the greatest marketing theories that rocked the world but it virtually became the foundation of majority of marketing practices and initiatives.
There are great many theories of marketing that played instrumental role in the global business scenario but the theories that are introduced here are considered to be among the most penetrating and revolutionary.
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