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What is market synergy?

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Quick Answer

Synergy in marketing is when two marketing strategies are combined in an attempt to achieve a greater impact. This approach is done with the perception that one marketing strategy would otherwise yield less impact if used alone.

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Small businesses often lack funds to finance their aggressive marketing budgets. However, such businesses can apply two or more low-cost marketing strategies to achieve the same results they might get using one large marketing budget. The success of any marketing strategy is derived from the fact that consumers require different impressions about a business or a product before making their purchasing decisions.

Having an attractive company name and business logo are unique ways of marketing the company and its products. However, this marketing strategy is not enough to adequately penetrate the market. Using both print and visual media is another way of marketing. Combining the attractive business name and logo using both media to market can yield a greater impact, as opposed to using the two strategies without linking them together.

The key concept in marketing synergy is to use different methods to achieve a greater marketing impact. Historically, synergy marketing has been very successful, although most scholars view it as some sort of trial-and-error strategy.

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