Pull strategy
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The pull strategy is an approach to marketing which focuses on increasing demand for a product or service through consumers. It is used to create a demand-driven marketplace, where customers are encouraged to actively seek out products and services instead of passively waiting for them to appear. This strategy consists of the following elements:
- Advertising: Advertising is used to create awareness of the product or service, and to entice potential customers to seek it out. This can include television, radio, and print advertisements, as well as digital campaigns and social media marketing.
- Promotion: Promotions are used to encourage customers to purchase the product or service, such as discounts, limited-time offers, and free gifts.
- Distribution: Distribution is the process of getting the product or service to the customer. This can include physical stores, online stores, or a combination of both.
- Pricing: Pricing is an important part of the pull strategy, as it must be attractive enough to entice customers to purchase the product or service.
The goal of the pull strategy is to create a demand-driven marketplace, where customers actively seek out products and services instead of passively waiting for them to appear. By using advertising, promotions, distribution, and pricing, companies can create a demand for their product or service and encourage customers to purchase it.
Example of Pull strategy
An example of a pull strategy is a company that offers discounts and free items to customers who purchase their product or service. By offering these incentives, the company is creating a demand for their product or service, and encouraging customers to actively seek it out. Additionally, the company may use advertising and promotions to create awareness of the product or service, and increase the demand for it.
When to use Pull strategy
The pull strategy is a great way to increase demand for a product or service, and can be especially useful for new products or services. It is also beneficial for companies that want to increase market share and brand recognition, as the pull strategy focuses on improving visibility and creating demand. Additionally, the pull strategy helps to build relationships with customers, as it encourages them to seek out the product or service and provides opportunities for a company to interact with them.
Types of Pull strategy
The pull strategy can be divided into four different types:
- Traditional Pull Strategy: This type of pull strategy involves the use of traditional methods such as advertising, promotion, and distribution to create demand for a product or service.
- Digital Pull Strategy: This type of pull strategy involves the use of digital methods such as social media marketing, email marketing, and search engine optimization to create demand for a product or service.
- Influencer Pull Strategy: This type of pull strategy involves the use of influencers to create awareness and interest for a product or service.
- Experiential Pull Strategy: This type of pull strategy involves the use of experiential marketing to create demand for a product or service, such as through events, demonstrations, and product sampling.
Steps of Pull strategy
The pull strategy consists of several steps that must be followed in order to create a demand-driven marketplace:
- Identifying the target customer: Identifying the target customer is the first step. Companies must know who they are trying to reach in order to design an effective advertising campaign.
- Developing the marketing message: After identifying the target customer, companies must develop the marketing message that will be used to entice potential customers. This message should include information about the product or service, its benefits, and the value it provides.
- Creating the advertising campaign: The next step is to create an effective advertising campaign. This should include a mix of television, radio, print, digital, and social media ads.
- Offering promotions: Promotions are used to encourage customers to purchase the product or service. This can include discounts, limited-time offers, and free gifts.
- Distributing the product: Once the product or service is ready, companies must distribute it to customers. This can include physical stores, online stores, or a combination of both.
- Setting a competitive price: Setting a competitive price is an important part of the pull strategy. Companies must determine a price that is attractive enough to entice customers to purchase the product or service.
Advantages of Pull strategy
The pull strategy has several advantages, including:
- Increased Profits: By focusing on creating a demand-driven marketplace, the pull strategy can result in increased profits due to higher customer demand and increased sales.
- Improved Brand Awareness: By using advertising and promotions, the pull strategy can increase brand awareness, which can lead to more customers and higher profits.
- Increased Market Share: By creating a demand-driven marketplace, the pull strategy can increase the company’s market share, as customers will be more likely to purchase the product or service.
Limitations of Pull strategy
The pull strategy does have some limitations. Firstly, it relies heavily on advertising and promotions, which can be costly. Additionally, if the product or service is not widely known, customers may not be aware of it and therefore no demand can be generated. Additionally, if the product or service is not properly distributed, customers may not be able to access it. Finally, if the pricing is too high, customers may not be willing to purchase the product or service.
The pull strategy is closely related to other marketing approaches, including:
- Push Strategy: The push strategy is the opposite of the pull strategy, and focuses on getting the product or service to the customer instead of encouraging the customer to seek out the product or service. This can include discounts, coupons, and sales promotions.
- Pull-Through Strategy: The pull-through strategy is a combination of the push and pull strategies, and involves both creating a demand for the product or service and pushing it to the customer. This can include advertising, promotions, and distribution.
The pull strategy is an approach to marketing which focuses on increasing demand for a product or service through consumers. It is used to create a demand-driven marketplace, where customers are encouraged to actively seek out products and services instead of passively waiting for them to appear. This strategy consists of advertising, promotion, distribution and pricing, and is closely related to other approaches such as the push strategy and pull-through strategy. Through the use of these strategies, companies can create a demand for their product or service and encourage customers to purchase it.
Suggested literature
- Cook, S. M., Khan, Z. R., & Pickett, J. A. (2007). The use of push-pull strategies in integrated pest management. Annu. Rev. Entomol., 52, 375-400.
- Khan, Z. R., & Pickett, J. A. (2004). The ‘push-pull’strategy for stemborer management: a case study in exploiting biodiversity and chemical ecology. Ecological engineering for pest management: Advances in habitat manipulation for arthropods, 155-164.
