Transactional Marketing

Sale and ‘nothing but Sale’ – That’s exactly what transactional marketing is all about. Unlike other marketing techniques that focus on building long-term relationships, transactional marketing focuses only on sale. 

In this type of marketing technique, retailers encourage customers with shopping coupons, discounts and events to make the sale happen. It not only enhances the percentage of sales but also acts as a motivation for your target audience to buy the products. In short, we don’t boost the transactional marketing to develop their ongoing relationship with the customer, instead, Transactional marketing is to majorly maximise the business efficiency by increasing the individual SALES. The strategy is built around a single purchase and not with doing volumes.

Transactional marketing has its roots in the renowned “Four P’s of marketing mix – product, pricing, placement and promotion.

•    Product – This process involves of creating a quality product or service that satisfies customer needs or demands.

•    Pricing - This implies reaching a price that fits the ideal balance between profitable for business and also perceived attractive and worth value being received.

•    Placement: This is majorly to understand who the target audience is and where to reach them.

•    Promotion: How would people know about your product? How would you reach them? Well this is what promotion is - channels like Radio, Tv, Digital or social media are the few platforms to push your message. It will include things like special offers or coupons to encourage a purchase. The promotional piece will often help you ''close the sale.''

A major challenge of Transactional Marketing is that “You may experience high customer turnover, but never gathering a particularly large audience of loyal customers.” 

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