The quintessential focus of every business on its customers has never been as emphasised as it is in the digital era. With the presence of social media, a wider scope of feedback and better relationship with buyers and sellers has become quite apparent. Amongst different branches of marketing in the digital world, a new concept of network marketing has significantly emerged. Network marketing refers to a business model that involves a person-to-person model of sales which is created by developing a network of independent representatives. If you are a business major, network marketing is an essential topic that will be encompassed in the degree and make you privy to its features and applications. This blog seeks to answer the question of what is network marketing and understand all its features and applications along with the major courses and universities you can consider in this field.
This Blog Includes:
What is Network Marketing and How does it work?
Network marketing is a medium of marketing that is used by producers and sellers to accelerate their sales rates. In network marketing, manufacturers deal with a large number of distributors who develop ‘networks’ to operate at various levels and thereby encompass a larger section of the society. They often act as independent representatives of the company and result in curtailing the large costs involved in traditional marketing. These distributors earn profit at their levels and also expand the earnings of the conglomerate per unit sold. Its uses are multifarious and wide-ranging and its intricate process is carried out by big corporations creating tiers of salespersons who using their independent networking and circle try to promote the product. Popularly known as multilevel marketing is trending globally. Companies that encourage network marketing often create tiers that have the authority to hire sub-tiers under them. This works on a commission-based system.
Types of Network Marketing
Now that you are aware of what is network marketing and how does it work, let’s explore the types of network marketing. There are three types of network marketing. The first is single-tier, in this type you are directly connected with the company to sell your products or services. No other distributors are not required. The second type is two-tier, in this type involves recruiters but the pay is not dependent. Lastly, multi-tier involves two or more two tiers.
Simply understanding what is network marketing isn’t enough. The actual understanding comes from being aware of its applications in a practical world in a lucrative sense that expand the growth of a business. It results in establishing a multi-level marketing structure involving a large number of distributors. With no inhibitions or size limitations, the network structure grows beyond any other kind of networking and supports a large number of people.
Companies don’t invest immensely to build a network but earn sufficient returns. Additionally, in the process, distributors are also positively affected by its creation and the profits are substantial. Being a reliable system, there is no chance of collapse and creates a direct connection between the company and the target audience.
Courses and Top Universities
Now that you know about network marketing and its essential process and applications, let’s further understand how you can establish a career in the field. It is a specialization offered as a core module of business degrees across various universities of the world. Business programs focus on a large number of topics and network marketing is one such concept that is essentially studied under this course. The core features, processes and applications can be learned at the bachelor’s as well as master’s level. Tabulated below are some of the major business degree program:
|BBA Marketing||Bachelor’s||North Island College, Canada|
|Bachelor’s degree in Brand Management||Bachelor’s||Macromedia University of Applied Sciences, Germany|
|Bachelor of International Business Administration, Marketing and Communication||Bachelor’s||New European College, Germany|
|Bachelor of Marketing and Business||Bachelor’s||Abertay University, Scotland|
|Bachelor of Business (Marketing)||Bachelor’s||The University of Canberra, Australia|
|Bachelor’s||The University of Derby, England|
|BA Honours Advertising, PR and Branding||Bachelor’s||Middlesex University Dubai|
|Masters in Marketing Management||Master’s||Bologna Business School, Italy|
|Masters in Marketing||Master’s||Aalto University, Finland|
|Master of Marketing||Master’s||Curtin University, Australia|
|International Master of Business Administration(Marketing)||Master’s||The University of South Australia, Australia|
|MSc Marketing||Master’s||The University of Glasgow, Scotland|
|MSc Marketing Management||Master’s||Grenoble Ecole de Management, France|
How to Start Network Marketing?
Network Marketing Success
In order to succeed in Network Marketing, you must ensure that you have certain skills and tricks up your sleeve.
- Be serious about your job
- Make use of social media to promote your business
- You must have a mentor for yourself who can guide you through the journey
- Have a growth mindset even if things are not working for you
- Use automation tools that will quicken your process
Network Marketing Companies
Wondering what are the top companies you can work for after completing your degree? Here is the list of network marketing companies:
- Forever Living
- Mi Lifestyle Marketing Global Private Ltd.
Network marketing has significantly emerged amongst the popular forms of marketing with promising career opportunities on offer. It is a relatively undiscovered and good career to pursue if one has the makings and diligence. It is considered as an important part of Multi-Level Marketing and provides a wide range of career options for graduates to explore such as:
- Brand Manager
- MLM Network Marketing Leader
- PR Manager
- Business Development Manager
- Marketing Executive/Associate
We hope this blog has answered all your doubts related what is network marketing, how does it work as well as the courses and careers you can explore. Want to study a degree program in Marketing? Let our Experts at Leverage Edu assist you in picking the best course and university that can equip you with the requisite knowledge and skills to build a thriving career in this field! Sign up for an e-meeting with us today!