Over the past few years, many marketing models have surfaced. Most of the time, ambitious marketers are caught in the midst of a pyramid model. This a vicious model where most of your time and hard-earned finances are lost. The characteristics of the pyramid model are not appreciated by most people. This is why, the world needed something like the pyramid model, but more profitable and transparent. Thus, the Multi-Level Marketing Model, alias MLM came into action.
By definition, the MLM marketing strategy depends on sound networking capabilities. This is a network-based model, in which each individual has to include more people under their functional boundaries. Indeed, marketers need to pay for “individuals” to join under him/her. Now, people who join will have the freedom to add a few more members under them. This way, people who add new members are given bonuses or incentives for their performance.
A famous example for the MLM marketing prototype would be the AMWAY business model. The business is officially reputed, and legit. In fact, there is nothing “wrong” or “fraudulent” about this business model. Yet, the overall structure is similar to the traditional pyramid model.
Another company that follows the MLM marketing model, would be “Herbalife Nutrition Ltd”. This is a multi level marketing and a high-profile company in the industry. The role of this organization is to sell products that encourage weight loss. Currently, this brand features nearly 500,000 active distributors. All these distributors tend to follow the MLM marketing scheme.
When you learn more about MLM marketing, you are likely to come across a few common terms. Here is a quick walk through these jargons:
Yes, MLM is an approved marketing method. Time after time, many misconceptions and myths have surfaced around the MLM Marketing method. However, it has survived the test of time and is legal. For MLM to be officially approved, and for it to be legal, it needs to meet the following qualities:
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