(Marketing Actually Means is completely based on my life experiences and research and is useful for all Students, Working Professionals, and Business people or Entrepreneurs.)
Marketing Actually Means
What is the first word that comes to your mind when you hear the word Marketing?
Usually, on hearing the term Marketing, the first word which comes to anyone's mind is Selling / Advertisement.
But actually, marketing is not only selling or not the only advertisement, it is a complete process Wherein,
We go from researching the market to identifying the needs of the customers,
Conceptualize a product so as to satisfy those needs,
Validate the product with the market to be sure about the product,
Actually, make the product and upgrade its quality to acceptable and optimized level,
We present the product in an appealing way,
We let the whole world and the whole market know about the product,
Distribute and place the product in the market so as to reach the end customer easily and
We actually sell the product to the customer and form a relationship with the customer wherein in even after sales,
We try to retain the customer so as to provide him more products later.
This Complete cycle which I just explained is actually marketing put down in very simple terms by me.
Marketing is nothing but Formulating the Idea / Concept, Developing, Making, Distributing and Selling the Right Product to the Right Audience / Right Customer at the Right Time at the Right Place and at the Right Price.
In these five terms are,
I think the whole chapter of marketing can be summed up.
Marketing starts with Product Idea / Thought, Its Inception, its concept, its manufacturing, its quality, and its usefulness.
Also, its acceptability forms an important part.
Next comes the customer / the audience in the market.
It is a skill to find the right customer / the right audience for a product.
It is also critical that we find the customer at a convenient time which is called the right time.
The right time is nothing but the time when the customer will be in actual need of the product or in other terms we can say When there is demand.
We also need to always remember that marketing is not only creativity but in a more broad sense, it is actually Science.
It is a Technology.
Marketing starts much before we actually create a product.
Marketing is not only about selling, it is about customer retention.
Many of us think why should we learn marketing?
I think we should learn marketing because marketing is a long term game.
Marketing is the most important aspect of Money Making as it gives Direct Returns.
Marketing can never be outsourced completely, everyone has to learn it.
You have to be the pioneer of the marketing funnel/technology that you are inputting into actual play, because the product is yours, and if the product is yours Nobody Else, not even the best marketing agency in this world will be able to understand the product and the market, as well as, you as a business owner will.
Marketing is the safest career available now, before and ever.
The main goals of marketing are,
To Generate Leads,
Grow and maintain leadership,
To increase customer value to empower and become a brand,
And to increase sales and to increase profits.
There are several types of marketing.
The first type of marketing is Cause Marketing, where there is a specific cause or an intention for the marketing for example marketing done by an NGO for funds.
The second type of marketing is Relationship Marketing, this is marketing done with the specific intention of creating long and strong relationships with the customer.
The third type of marketing is Scarcity Marketing, where you kind of put the FOMO (Fear Of Missing Out) factor in the customer. You use common techniques such as Limited Editions, Limited Days & Countdown for scarcity marketing.
The fourth type of marketing is Undercover Marketing, this is nothing but stealth marketing where you use strategies involving, the introduction of a product to customers in a way that does not seem like an advertisement, which is called Undercover marketing.
When we go to a lot of MBA schools or business schools or Institutions we are a lot of marketing concepts some 7 C's of marketing 7 P's of marketing 5S of marketing Etc
Let's see a couple of these examples,
Herein is the
7 C of marketing,
Similarly, there are
7 P's of marketing,
Now I can go on elaborating each of these terms but it will all become only the same chocolate in a different wrapper.
It is essential for us to understand the conceptual essence of Marketing.
I am a Sindhi, Sindhi’s are known to be good marketers. They say we have this knack for our genetics and that is a reason why Sindhi people usually excel much faster in all kinds of Businesses.
It does not matter which kind of business you are in. The end intention of any Business / Service never changes. It is all about Profit.
Marketing is like the Brahmastra [ Most Effective Weapon ever – Mythology], once you master the use of it, you will be able to defeat anyone, anywhere, anytime.
It is not so difficult to understand that marketing actually means give and take of ideas.
Always remember marketing is all about Good Communication.
It is not necessary to be fluent in English but it is important to put your thoughts across and if you are able to just put your thoughts across you can become good at marketing.
Also in marketing actually means, I would specifically like to mention here that there are three concepts in which people often get confused. These concepts are Selling Advertising and Marketing.
Advertising is making your product and service known to an audience in the Marketplace.
Selling is an action that converts the product into cash.
But Marketing is the process of meeting and satisfying the customer's needs.
Marketing consists of all those activities that are associated with product planning, pricing, promotion, and distributing the product or services. Basically, marketing is both research and practice.
Thinking of what marketing actually means, Some people commonly bifurcate Marketing into two different types.
The two types of marketing are traditional marketing and digital marketing.
Refers to any type of marketing done by the means of Print, Broadcast, Direct mail, or outdoor advertisements like Billboards, Newspapers, Radio, TV, etc
Is the use of the internet, mobile devices, social media, search engines, and other channels to reach consumers.
Let us see some
differences between traditional marketing and digital marketing
I do not say that traditional marketing is not good or that digital marketing is the only way we can market.
Both the mediums have their own advantage.
In digital marketing, you have better control over your marketing scheme & technology, whereas in traditional marketing it is not so easy to control.
Digital marketing has an advantage wherein you can actually track and report your marketing influence reach and its effectiveness. It is not so easily possible in the traditional way of marketing.
In digital marketing, it is able to customize the audience whereas in traditional marketing it is not possible.
Traditional marketing is very expensive as compared to the low cost & cost-effectiveness of digital marketing.
But with digital marketing, you cannot sell all the products. You can only sell specific and limited products, whereas with traditional marketing you have a whole wide range of products. Specialty the Generic ones.
The reach of traditional marketing is Deep you can almost reach every person in India and abroad.
But with digital marketing, this is not a possibility. Reach as per current data is Limited. Around 50% of India is now digital but the reach is developing and I hope it reaches its Max very soon.
One more main important difference between traditional and digital marketing is that digital marketing is an instant thing. You can immediately start marketing with digital media but in traditional marketing, you need to do a lot of planning, a lot of content creation and as it is expensive you cannot afford many changes as compared to digital marketing where you can change your ad copy in a matter of minutes.
Also with digital marketing A/B testing is possible, which is not possible in traditional marketing making it very difficult to change your ad copies, materials, videos, print, etc
Finally, traditional marketing is a one-way communication as compared to a two-way communication or call-to-action possibility with digital marketing.
To Sum it up, Marketing Actually Means
herein are my life Observations which should be applicable and useful to most of you
- We all are born with a Marketing Skill.
- Marketing Skill needs to be Practised and Improved.
- Marketing is your Gut Instinct.
- The best way to market is to make yourself the target and then Strategize.
Coming up with a book very soon
Digital Marketing Shaastra.
To Know About Where You Can Study Digital Marketing In Pune, Read
- Juneeth Panjri – Marketing Automation For Business
- Gaurav Madan – Proves Steps to Bring Local Business Online
- Pawan Sharma – Generating Money From Affiliate Marketing
- Swati – Ultimate Guide For Digital Marketing 2020
- Digital Nadu – Hello World
- Roshni – 6 Awesome Free Online Digital Marketing Courses
- Gokul – The Best Ways to Utilize SEO Basics Clear Understanding
- Preeti Ghosal – Bhetki Paturi Recipe
- Jumpy – Why Digital Marketing is useful for Business
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