We have many ways of advertising or marketing to mobile phones:
SMS When a text is sent to a list of mobile phone numbers
MMS, same as SMS but more costly per delivery.
WAP push which pushed an advertisement to a list of mobile phone numbers, double opt in required.
Windows Phone 7 advertising. Allows you to build ads within WP7 apps.
Viral marketing via mobile phone:
Quality comedy will be shared, the content normally advertises a product or service.
Location based advertising:
Bluetooth that delivers ads in the proximity of an area, Opt in is required to view the advert
Network delivery that relates to the opt in GPS location
Bluetooth V4 – a Greater distance to deliver adverts