{"id":6026,"date":"2022-11-24T15:30:00","date_gmt":"2022-11-24T15:30:00","guid":{"rendered":"http:\/\/www.smartinsights.com\/?p=4479"},"modified":"2022-11-24T14:50:35","modified_gmt":"2022-11-24T14:50:35","slug":"marketing-models","status":"publish","type":"post","link":"https:\/\/www.smartinsights.com\/digital-marketing-strategy\/online-business-revenue-models\/marketing-models\/","title":{"rendered":"Marketing models that have stood the test of time"},"content":{"rendered":"

What do you think is the best, i.e. most useful marketing model? Download our free RACE Growth System guide and learn the skills and techniques you need to boost your marketing strategy<\/h2>\n

You may have noticed we're fans of using practical models as tools to support marketing strategy development. We believe a clear, simple model gives us a framework to assess how we're doing things now compared to our competitors and plan growth strategies for the future. They're also great for communicating the purpose and reason behind a strategy you are pursuing.<\/p>\n

But there's a problem - over the years, the number of marketing frameworks available has increased. Some are academic, based only on theory but have no \"real world\" credentials. Whereas others have been developed with no consideration of universal marketing strategy and planning fundamentals.<\/p>\n

So many marketing models have been developed over the years that it can be overwhelming to know what to use and when. That's where our RACE Growth System comes in.<\/p>\n

Our RACE Growth System is our easy-to-use, easy-to-follow, strategic marketing framework that's been proven to get results. Our practical, data-driven, marketing framework empowers marketers and business owners to use customer insights and analysis to prioritize marketing strategies for rapid growth.<\/p>\n

Create your 90-day plan with the RACE Growth System<\/h3>

Download your free RACE Growth System guide today and unlock our three-step plan of Opportunity, Strategy and Action to grow your business.<\/p>Download guide<\/a><\/div><\/div><\/span><\/p>\n

Which are the most popular marketing models?<\/h3>\n

Since I'm a digital marketer, I have my own views on the relevance of these, indeed in my books, I have often included them. In fact, most are included in my Digital Marketing: Strategy, Implementation and Practice<\/em> book.<\/p>\n

Our top 12 marketing models<\/p>\n

    \n
  1. The RACE Framework<\/li>\n
  2. 7 Ps of Marketing<\/li>\n
  3. USP<\/li>\n
  4. BCG Matrix<\/li>\n
  5. Brand Positioning Map<\/li>\n
  6. Customer Lifetime Value<\/li>\n
  7. Growth Strategy Matrix<\/li>\n
  8. Loyalty Ladder<\/li>\n
  9. PESTLE<\/li>\n
  10. Porter's 5 Forces<\/li>\n
  11. Segmentation Targeting Positioning<\/li>\n
  12. SOSTAC<\/li>\n<\/ol>\n

    1. The RACE Framework<\/strong><\/p>\n

    Our RACE Framework is a popular marketing structure framework for Startups, SMEs, and international corporations, since it can scale up or down according to your short-term and long-term objectives. <\/span><\/p>\n

    Marketers love using RACE to structure their marketing strategies, since the framework guides marketers through each stage of planning, reaching, acting, converting, and engaging.<\/span><\/p>\n

    Smart Insights Free Members can also download an editable version of our popular RACE Growth System<\/a>, a simple structure to put your plans into place using our Opportunity > Strategy > Action model to identify marketing activities for growth at each stage of the funnel.<\/p>\n

    \"Race<\/a><\/p>\n

    2. 7 Ps of Marketing<\/h3>\n

    The 7P's of the Marketing mix model<\/a> are Product, Price, Place, Promotion, People, Process, and Physical evidence - these elements of the marketing mix form\u00a0the core tactical components of a marketing plan.<\/p>\n

    \"\"<\/a><\/p>\n

    I think it's right this is at the start of the list since it's still widely used and I think is a simple way to think through how a company markets its products. A good model to explain marketing strategy to someone who isn't a marketer. But it suffers from a push mentality completely out-of-keeping with modern digital marketing approaches of listening to and engaging customers, such as through social media marketing.<\/em><\/p><\/blockquote>\n

    3. USP<\/h3>\n

    Unique Selling Proposition is the concept that brands should make it clear to potential buyers why they are different and better than the competition.<\/p>\n

    This is a simple concept and an essential message to communicate online since the core brand message often isn't clear. Digital websites need to define their digital value proposition<\/a> well.<\/em><\/p><\/blockquote>\n

    4. Boston Consulting Group Matrix<\/h3>\n

    This well-known, essential MBA model categorizes products offered by a business in a portfolio based on their performance rating them as Stars, Cash Cows, Dogs, and Question Marks as below.<\/p>\n

    \"The-Growth-Share-matrix\"<\/a><\/p>\n