Marketing is the mechanism by which businesses promote their product or service. Marketing is the process of identifying potential customers, or target audience, promoting products and services to an audience, and ultimately making sales. The process of marketing is very involved and comes in a variety of forms. From traditional marketing to digital marketing, the activity of marketing typically includes advertising, selling, and distributing. There are many ways to market products and services but the end goal remains the same no matter the strategy–attract customers and make sales.
The whole idea of marketing brings brand awareness and grows a company. Without being involved in marketing campaigns and marketing efforts, most companies would be hard–pressed in finding success. Most successful businesses are a result of effective marketing tactics.
The whole idea of marketing brings brand awareness and grows a company. Without being involved in marketing campaigns and marketing efforts, most companies would be hard–pressed in finding success. Most successful businesses are a result of effective marketing tactics.
Purpose and Importance
Marketing in business exists for the purpose of growing a company by matching products and services to the right potential customers. But how does a business grow in this manner? Marketing is the answer. Marketing is the avenue through which customers can learn about new products and it is the main way businesses learn who their customers are. The promotional strategies used in marketing attract people to buy products and services and in the end these sales enlarge a company’s profitability. As brand awareness grows (the major goal of marketing) a customer base grows, profitability grows, and this leads to growth and success. Through the activity of marketing, businesses can portray their desired image to the public.
Marketing allows companies to show who they are, what they sell, and why it’s special and useful. It’s a tool that sets one brand apart from another. For example, a cookware company will use marketing as a way to show that their brand is centered on cookware that is high quality, durable, sustainable, healthy, and useful. Marketing allows the said cookware company to be creative in portraying their own unique image to the public in a way that attracts customers.
Marketing allows companies to show who they are, what they sell, and why it’s special and useful. It’s a tool that sets one brand apart from another. For example, a cookware company will use marketing as a way to show that their brand is centered on cookware that is high quality, durable, sustainable, healthy, and useful. Marketing allows the said cookware company to be creative in portraying their own unique image to the public in a way that attracts customers.
Traditional Marketing
Traditional marketing is the original way companies promoted goods and services. Before the popularity of internet use, traditional marketing was the conventional way customers learned about brands. Traditional marketing is still used today because it still works, although it is a completely different way of marketing in comparison to digital marketing. Outbound marketing tactics, which refers to businesses reaching out to their customers, is often used in traditional marketing. This is because traditional marketing is limited and companies have to go to their potential customers to show off their products, and this happens in various formats such as the following:
● Print Marketing– This includes ads in magazines, newspapers, fliers, brochures and other forms of print media. Printed marketing material can be mass produced and mailed to people’s homes, handed out at events, and shared in different ways.
● Outdoor Marketing– Outdoor Marketing involves displaying ads such as images, posters, banners, billboards, and the like in public spaces Indoor and outdoor such as on ads painted on the walls of a building.
● Event Marketing–This entails events such as trade shows where products and services are showcased. Seminars, conferences, and private events are also forms out event marketing.
● Direct Marketing– Consumers are set promotional materials such as brochures, flyers, coupons, and vouchers.
● Broadcast Marketing– Ads on television and newspaper are promoted on mass media outlets. This is also called electronic marketing.
Traditional marketing is still effective but with the rise of digital marketing and social media, traditional marketing tactics are not able to reach a wider audience and also not as quickly as digital marketing.
● Outdoor Marketing– Outdoor Marketing involves displaying ads such as images, posters, banners, billboards, and the like in public spaces Indoor and outdoor such as on ads painted on the walls of a building.
● Event Marketing–This entails events such as trade shows where products and services are showcased. Seminars, conferences, and private events are also forms out event marketing.
● Direct Marketing– Consumers are set promotional materials such as brochures, flyers, coupons, and vouchers.
● Broadcast Marketing– Ads on television and newspaper are promoted on mass media outlets. This is also called electronic marketing.
Traditional marketing is still effective but with the rise of digital marketing and social media, traditional marketing tactics are not able to reach a wider audience and also not as quickly as digital marketing.
Digital Marketing
Digital marketing is the use of digital technologies, like internet and cellphone use to promote products and services. It allows marketers to reach customers through a variety of platforms and devices, including the internet, mobile devices, and social media. Digital marketing provides a more cost–effective and measurable way to reach and engage with customers compared to traditional marketing methods. Due to its measurability, businesses can use the measured data to improve their marketing tactics. There are several types of digital marketing, including:
● Search engine optimization (SEO)–Is the strategy of optimizing a website to rank higher in search engine results. This helps to increase organic traffic to the website.
● Pay–per–click (PPC): This involves placing advertisements, for example; banners at the top of a page, and only paying when someone clicks on the ad.
● Social media marketing: Promoting products and services on social media platforms, such as Facebook, Twitter, and Instagram.
● Content marketing: This is the process of creating and distributing valuable and relevant content, such as blog posts or videos among many examples, to attract and retain a target audience.
● Email marketing: Sending promotional messages and updates directly to a customer’s email inbox.
● Affiliate marketing: Businesses partner to promote each other’s products and services.
Many businesses use a variety of the listed digital marketing outlets, amongst many more options. The best strategy in digital marketing depends on who the target audience is and the goals of the marketing campaign.
● Search engine optimization (SEO)–Is the strategy of optimizing a website to rank higher in search engine results. This helps to increase organic traffic to the website.
● Pay–per–click (PPC): This involves placing advertisements, for example; banners at the top of a page, and only paying when someone clicks on the ad.
● Social media marketing: Promoting products and services on social media platforms, such as Facebook, Twitter, and Instagram.
● Content marketing: This is the process of creating and distributing valuable and relevant content, such as blog posts or videos among many examples, to attract and retain a target audience.
● Email marketing: Sending promotional messages and updates directly to a customer’s email inbox.
● Affiliate marketing: Businesses partner to promote each other’s products and services.
Many businesses use a variety of the listed digital marketing outlets, amongst many more options. The best strategy in digital marketing depends on who the target audience is and the goals of the marketing campaign.
