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"Network marketing" and "Multi Level Marketing" - Are they still Dirty Words?
How does Multi Level Marketing Work?
Network marketing or multi-level marketing schemes sell a wide range of products, usually non-essential, and often for health and beauty. If you had a network marketing business, it would be as important for you to recruit other sales-people, for whom you would receive a cut, as it would be to sell the products. They in turn would recruit others.
For many people, this pyramid method of small business marketing immediately rings alarm bells. With the network marketing business alive, well and profitable in the 21st century, are these alarm bells still justified?
The Benefits of the Network Marketing Business
Amway, one of the most famous and successful examples of a network marketing business, is reputed to have generated worldwide retail sales of US$6.2 billion in 2004.* They cite the following benefits to multi-level marketing:
- It is an ideal home-based business;
- It is open to all religions, races;
- You can make a lot of friends by attending motivational meetings.
The Disadvantages of Network Marketing as a form of Small Business Marketing
Here are what I believe to be the main problems with multi-level marketing:
- By being forced to recruit more sellers, you are creating competition and will eventually saturate the market;
- As a result of this, people near the bottom of the network marketing pyramid will almost always buy more products than they will sell:
- You will probably need to approach all of your friends and family in your quest for recruitment. This could potentially spoil relationships;
- Many people view the motivational meetings as little more than brainwashing. Companies such as Amway strenuously deny this.
As a marketing student on an online degree, you can research network marketing and make up your own mind. The Internet has made possible many other, less controversial forms of home-based small business marketing. We will look into these next time.
Sources
- Van Druff, Dean "What's Wrong With Multi-Level Marketing?"
- http://www.falseprofits.com
- http://www.amway.com
