MARKETING — THE BREATH OF LIFE

Marketing is everywhere. Everything from presenting yourself to selling your products includes marketing.

“Marketing is a social process by which individuals and groups obtain what they need and want through creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” — (Philip Kotler)

Fundamentals of Marketing :

Marketing is all about understanding the customer and ensuring that products and services match existing and potential customer needs. Marketing is essential to a business and without it a business cannot give its customers what they want.

There are five main points to marketing : -

1· Understanding customer needs

2· Understanding and staying ahead of competition

3· Communicate with customers to satisfy expectations

4. Co-ordinate its market functions to achieve its’ marketing aims

5· Be aware of marketing constraints.

The Four Ps OF Marketing

· Product — The first of the Four Ps of marketing is product. A product can be either a tangible good or an intangible service that fulfills a need or want of consumers. Whether you sell custom pallets and wood products or provide luxury accommodations, it’s imperative that you have a clear grasp of exactly what your product is and what makes it unique before you can successfully market it.

· Price — Once a concrete understanding of the product offering is established we can start making some pricing decisions. Price determinations will impact profit margins, supply, demand and marketing strategy. Similar (in concept) products and brands may need to be positioned differently based on varying price points, while price elasticity considerations may influence our next two Ps.

• Promotion — We’ve got a product and a price now it’s time to promote it. Promotion looks at the many ways marketing agencies disseminate relevant product information to consumers and differentiate a particular product or service. Promotion includes elements like: advertising, public relations, social media marketing, email marketing, search engine marketing, video marketing and more. Each touch point must be supported by a well positioned brand to truly maximize return on investment.
• Place — Often you will hear marketers saying that marketing is about putting the right product, at the right price, at the right place, at the right time. It’s critical then, to evaluate what the ideal locations are to convert potential clients into actual clients. Today, even in situations where the actual transaction doesn’t happen on the web, the initial place potential clients are engaged and converted is online.

Before doing marketing one should know also have the proper knowledge of the Geographical Location and Economy .

Which region you want to serve ? — study research on its Per Capita Income

Which class of people you to serve ? — their standard of Living , education ,upbringing,

Ex: INDIA 1–110 million population with $8800 Per Capita Income

INDIA 2–104 million population with $3000 Per Capita Income

INDIA 3–1126 million population with $1200 Per Capita Income

One can go detail research like how many people are Bread Earner per Family

Do they Possess Credit Card — Digital Payment Access .

Digital Vs Traditional Marketing :

Traditional marketing is a type of marketing that is hard to ignore and includes the traditional ads we encounter on a daily basis. Many of the common and most tried offline marketing tactics come under the following five major categories:

1. Print (magazines, newspapers, etc.)
2. Broadcast (TV, radio, etc.)
3. Direct Mail (catalogues, postcards, etc.)
4. Telephone (telemarketing, sms marketing, etc.)
5. Outdoor (billboards, fliers, etc.)

Digital marketing or online marketing refers to the marketed related work that a business does through the Internet or an electronic device such as a mobile phone. Any business (regardless of its size) can leverage digital marketing to reach out to their target market, connect with prospects and convert more of them into customers/clients. Everything from search engine marketing to Facebook marketing comes under digital marketing.

The digital marketing vs traditional marketing debate will keep going and it’s far from over. However, given the advancement in technology, there is no denying the fact that digital marketing can help a business generate qualified leads/sales without putting a dent in the wallet. The risk is definitely smaller when compared to traditional marketing.

The CATT marketing Funnel and Framework

NICHE — Finding your niche — areas where you excel and can provide THE BEST. It involves your Talent — Passion and Market.

CONTENT — Content is the KEY to Unlock Success in Marketing.Creating content which provide depth knowledge and info about the product and services. Marketing is impossible without great content.Providing truly relevant and useful content to your prospects and customers to help them solve their issues.

ATTENTION — Attention grabing though proper quality, price, presentation. One should be in regular contact with its customers though various means and can ask for their feedback and suggestions.Word Of Mouth is by far the oldest and best way to Draw Attention.

TRUST — Building TRUST is like building long term relations with the customers, who helps business to have bright future.

INTEGRATED DIGITAL MARKETING

It is the process of utilizing all available digital channels in such a way that each channel works together by focusing on their strengths and multiplies the effectiveness of the overall marketing strategy.

It is a method of engaging customers and prospects with your company or brand that combines all parts of marketing communications to work together and assist the customer along their journey of awareness to loyalty and advocacy.

One can use various methods for the same :

• web development and design
• search engine optimization (SEO) and search engine marketing (SEM)
• content marketing
• social media marketing Facebook, Instagram, Twitter, Linkedin, Youtube
• local listings management
• paid advertising (or pay-per-click advertising) campaigns
• Google Ad words
• Emails are used to engage with pre-interested audience
• Chatbots — Chatbots are starting to threaten email marketing. They have higher open rates and can be used to engage with new audiences too!

The Power OF Personnel Branding — You are your own Brand

People want to hear from People not from Brands .Once Brand is developed and able to connect with people — IT is the BRAND which will work round the clock.

Your personal brand is how you promote yourself. It is the unique combination of skills, experience, and personality that you want your followers to see. It is the telling of your story, and the impression people gain from your online reputation.

For building solid Brand one should start with :

1) Learn — New Skills you want to provide and serve

2) Work- put the learning ionto work — implementation for better understanding

3) Blog — Start writing what you have learnt and experienced

4) Consult- Once you specialise in particular field — u can provide consultation instead of working under someone.

5) Mentor — Be Mentor teach and guide others . Mentoring will help u scale ur understanding to a whole New Level.

6) Start Up- One can start own business

Conclusion: So Basically what we can say that Marketing is the Heartbeat of any Business rather Individual as every moment we are actually marketing something or the other to ourselves through our continuous Inner Chatter.

It is continually changing in response to the explosion of information, the expansion of technology, and the aggressiveness of competition, at all levels and everywhere.

Your ability to think clearly and well about the very best marketing strategies, and to continually change and upgrade your activities, is the key to the future of your business.

This is written as part of work from Intership Programme of DigitalDeepak