What is Marketing, Marketing 4P Principles, Types of Marketing, Traditional Marketing, Digital Marketing

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Marketing:

Marketing is a backbone for any business. Suppose you create a product and nobody knows about concerning it then how will you get benefited from that product, thus if you wish client for that product you would like to form of that product. You can say creating awareness is marketing. Marketing is a process of connecting with right customer in right time at right place. Marketing is required for creating brand visibility and to generate revenue. 

Marketing 4P Principles-

1. Product: Marketing person should have in-depth information of product for which he is doing promotion.
2. Price: Price should be depending on production cost, consumer population, demand of product and brand image.
3. Place: Place denotes with location where that product will sell.
4. Promotion: Promotion is communication strategy and technique, such as advertising, sales promotions, special offers & public relation.



Types of Marketing:

1. Traditional Marketing: Traditional marketing is based on Print media (Billboards, Pamphlets, Magazines, Newspapers), Broadcast Media (Television (TV), Radio, Announcements), Telemarketing (Cold Calls, SMS) and Point of Sale (POS) etc.

2. Digital Marketing: In Digital marketing promotion of Company / Product is done though digital media using digital devices on different servers like Mail, Websites, Blog writing, Social networking sites, Video marketing etc.




 Difference between Traditional Marketing and Digital Marketing-
Criteria
Traditional Marketing
Digital Marketing
Cost
Very High
Very Less
Communication
One Way
Two Way
Audience
Limited
Maximum
Advertisement  Duration
Limited
Long
Return of Investment (ROI) Calculation
Not possible
Possible
Conversion Ratio
Less
High
Analysis on Data
Not possible
Possible
Feedback
No Possible
Possible

Digital Marketing:

Marketing of products or services done though digital media (Internet) using digital devices (Tablet, Laptop, Desktop, Mobile) on different servers like E-Mail, Websites, Blog writing, Social networking sites, Video marketing etc is called digital Marketing.

Internet users are increasing day by day in today’s world. In last few years peoples shopping mentality has been completely change, they don’t want to waste their time in market for purchasing any product. They simply search that product on internet and purchase online as per their convenience. So if you want to promote your company, product or services then you should connect with your audience on digital medium. By doing digital marketing of company, product or services you can expand your reach to infinite consumers. In Digital Marketing you can analyze, calculate conversion ratio, and return of Investment (ROI) by getting feedback you can amend your strategy also.

For example- You prepare a healthcare product and you want to sell that product, then firstly you need to create awareness of that product and for that marketing is required then only you find your targeted audience. Now put yourself in place of a customer and you want to buy a healthcare product. What will you do? First you will search that product on internet and after getting complete relevant information then you go for buying. That means in today’s digital era digital marketing is more powerful that traditional marketing.

We need to understand below three points about digital marketing-

  1. What is digital marketing?
  2. Why digital marketing is required?
  3. Techniques used in digital marketing for promotion?

What is digital marketing?

Marketing which is done through internet, computer and other electronic devices is known a digital marketing. Whenever a company launch any product, for that marketing is required.  In current digital world internet is a place where customer is available all the time. So with the help of digital marketing, any company can connect with their targeted customer in a very short span of time. Huge amount is required in offline marketing but in digital marketing you can connect with customer globally in a very less expense. 

Why digital marketing is required?

With the help of digital gadgets (mobile, computer, laptop, tablets etc) digital marketing, is easy medium to connect with targeted audience. Earlier television, newspapers, radios and magazines are the only ways to connect with consumer so in those days companies used these mediums for marketing of their products. But in this digital era people spend most of their time on YouTube, social sites and other apps so now company use internet for promotion of their product. Not only consumers but sellers also got benefited with digital marketing, as they are targeting huge number of consumers at the same time.

Techniques used in digital marketing for promotion?


With the help of below techniques we can promote any product or services in digital marketing-

1.  Search Engine Optimization (SEO)
2. Social Media Marketing (SMM)
3.   Search Engine Marketing (SEM)
4.  Social Media Optimization
5.  Content Marketing
6.  Blogging
7.  Google Ad world
8.  E-Mail Marketing
9.  Web Analytics
10.   Conversion Rate Optimization



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