What do you understand with marketing and how can it be defined? What can be the base to understand and to apply the right approach to choose the right strategy for marketing? Let’s discuss this article through a case study and a holistic approach.
What is marketing?
In simple language, it refers to the activities that a company does to promote and sell products or services to consumers.
Marketing aims to know and understand the customer so well that the product or service fits him and sell itself. The aim of marketing is to make selling superfluous.
— Peter Drucker.
The law of marketing is based on science, not creativity. The product can not be sold just by bringing creativity. To generate needs and to make products useful for mass selling, and understanding of science is required.
An Impressive aeroplane can be built, but it will never leave the ground if laws of physics are ignored especially the gravity.
— Al Ries and Jack Trout.
The need to understand marketing in the first place
Marketing is all about approaching the right audience with the right message at the right time. It’s not just only about selling the product. It is also about keeping an existing customer happy by communicating so well they stay there forever.
Why learning marketing is important?
Change is the law of nature, and in the earth, of almost everything has a shelf life, either it’s any eatable thing or technology, tools, gadget or education. Investing time and energy and mastering in marketing is important? Because it’s rooted in human psychology and lives.
And almost anything can be replaced, any skill or profession according to the myopic studies, artificial intelligence in the coming future. But AI can’t replace marketing.
No computer or machine can communicate with a human and converse.
Marketing is in psychology about communication and understating the subject matter.
The importance of communication skill
Marketing is all about communication, and if the product is good and well communicated, helping customers in fulfilling their needs, the product will be sold itself.
Example- Who on earth doesn’t love to eat pizza, everyone loves eating it, it tastes good, right. but it’s unhealthy food, and it’s made of flour and the ingredients aren’t taken well for health. But what if you bring a change in the recipe and replace the flour with some nutritious grain flour that adds and enhances the nutritional value.
Think about it, with biological reasoning if you are able to communicate well with a chef or a producing company, your idea and product solution is sold.
“Good communication is not about writing sophisticated English.”
Effect of global economics on marketing
With globalization, the need to understand the global economy is increasing day by day in every sector of business. Many people hear the word “economics” and think it is all about money. Economics is not just about money.
It is about weighing different choices or alternatives. Some of those important choices involve money, but most do not. Most of your daily, monthly, or life choices have nothing to do with money, yet they are still the subject of economics.
Country’s economy goes up as the average age of the country goes up. It’s important to learn, how the economy works?
Difference between Traditional & digital marketing
Traditional marketing is about reaching audiences via Billboards, Newspaper, print, television, & radio medium. Whereas in digital marketing, the products and services are advertised on the internet on websites via social media, paid ads and through email marketing.
Digital is now become the fastest way to reach affluent masses but saying this, it’s the only way to market will be wrong. India likes sub-continent, where huge demands of generic products are advertised via TV and radio. Promotion on TV for running ads publication on newspaper and radio reach has a direct response. Which can’t be ignored.
What is CATT Funnel?
This funnel is no less than any research and is importantly required for selecting a correct niche. CATT stands here is C (Content), A (Attention), T (Trust) & T (Transaction).
Finding your Niche
It starts with s finding & selecting your niche, a focused area that you serve particularly well in the market is very important before you start building any brand.
Passion+Talent+Market + Opportunity
Finding your passion, in which( talent) you are good at, what makes you easily recognizable. After recognizing the passion, we can develop a skill in that aspect, learn about it completely as much as possible. Learning is a continuous process. If you are passionate and Talented in a particular skill it is easy to market that service or skill or product that you have.
If you are very clear with your Niche, then you can create content (by writing, podcast, blog, vlog, website etc.) more easily. We can easily grab the attention of the target audience, can build trust with them, make their problem solved. This how the process of transaction happens.
Integrated Digital Marketing (IDM) Approach
The integration of multiple showcasing methodologies to create a cohesive online approach for your business. Modern age Marketing is all about integrated digital marketing automation & techniques.
The thought behind integrated digital marketing is that Individual technique doesn’t have a huge impact on its own when utilized in conjunction, you’ll make a more persuasive online presence. Most organizations are moving toward integrated solutions, as a well-rounded promoting methodology gives way better visibility and ROI for businesses online.
The power of personal branding
The best known will always beat the best.
When you promote yourself as a brand you’re not only creating a Personal brand, but gaining trust in the public and become a known figure. Personal branding comes with evolution and learning new skills through concept, remember the facts and practice the procedures.
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