Marketing is the process of Promoting Business Products or Services to the target audience, it involves all the actions that the Company undertakes to maintain a relationship with the Customers.
Marketing is more about building relationships with Customers than Selling Products or Services to them.
Fundamental of Marketing-
4’s P of Marketing-
4’s P of Marketing Concept is very famous that summarizes the 4 basic pillars of any marketing strategy.
· Promotion &
Ø Product: What are you selling? It can be anything like a dress in the Clothing Store, drink in the beverage industry or it could be serviced, such as consulting.
In simple words, it can be anything that is made available to consumers. You’ll need to think about how to package or present it. A Marketer should be familiar with all the Specifications of the products they sell.
Ø Price: How much you charge for your product or service, to determine how much you should charge for your product or service, you’ll need to do some research. Learn how your competitors are offerings, and understand how much customers are willing to pay.
Ø Promotion: Now a day there are lots of options available to promote the products. Radio ads, newspaper, TV ads to Digital Marketing, you’ll need to decide which are right for your brand.
Ø Place: Your customers need to be able to find and purchase your product. Can they buy your product online? Do they need to visit a store? It depends on what type of product or service you’ll engage in dealing with.
CATT Marketing Funnel-
Wealth=n ^ CATT
^ — — denotes power.
N — — Stand for Niche. What you are passionate about, it could be anything.
C — — Stand for Content. Create content that can attract more people, like blog posts, video,s, etc.
A — — Stand for Attention. Pulling attention to your blog through social media, paid ads.
T — — Stand for Trust. Build trust with your audience by giving valuable information to them.
T — — Stand for Transaction. Convert your leads into your customer.
CATT marketing funnel is how your audience will go through the entire journey with you.
Marketing Start even before you make the product. The first step of marketing is to identify the customer and what the customer really needs.
Then you need to create a product that meets the needs of the customer.
Before creating a Product you need to ask a few questions.
Who needs this product?
Where Can I find them?
How much are they willing to pay for the product?
How is the product going to help them?
Will they buy the product once or will they keep buying it again and again over a duration of one month, one year, and so on?
Once you have clarity about these questions, then 50% of your work completed.
The aims of marketing understand your customer and what they truly need. If your product helps them and makes life easy the product will market itself.
Marketing is closely rooted in consumer psychology. Marketing requires a close understanding of what customers want, what they think, and how the product can move them from their current state to their desired state.
Marketing is not just about selling. It is additionally keeping an existing customer happy by communicating with them so that they can remain a customer for the long term.
The Purpose of Marketing is to build a brand & Capture a position in the minds of the consumers.
The best way to find your niche is to know 3 things.
Do you have a talent or skill?
Are you passionate about that skill?
Is there a market for the skill that you have?
If the answer to all your questions is yes, then that is a niche that you can monetize.
Integrated Digital Marketing-
Integrated Digital Marketing is not a complex term it’s an integration of multiple marketing strategies together.
People normally follow one or two or hardly three-technique in digital marketing but if you really wanna grow then you have used all techniques in an integrated way.
Some of the common method in digital marketing-
Ø Email Marketing,
Ø Search Engine Optimization,
Ø Content Marketing,
Ø Paid Advertising,
Ø Social Media Marketing,
Ø Search Engine Marketing.
Digital Marketing v/s Traditional Marketing-
Digital Marketing refers to advertising delivered through digital channels such as Social media channels, paid ads, email marketing, etc. If you are offering a particular niche then digital marketing would be the best option.
Digital marketing strategies incur a much lower cost. It works well for more worldwide or scattered audiences because of the broad scope of digital marketing.
Audience involvement can be tracked instantly. When someone clicks on your link to your site, read email, or follow social media you have that information immediately.
Traditional Marketing methods can be used without the internet. These are the strategies that have been around for decades and are typically used less often now.
Digital Marketing is also part of their plan to maintain its presence and reach their audience in a creative way.
Let’s take example Ariel detergent powder or Soap brand, it primary markets via traditional marketing due to their wider and effective reach.
Common traditional market methods include:
· Television or radio commercials,
· Newspaper or magazine ads,
· Telephone calls.
Why Personal Branding is Important-
Ø The Best will always beat the best.
Ø You are differentiated from the Competition.
Ø A personal brand can’t be invested in & it can’t be sold.
Ø You are a known expert in your field.
Ø Your business will become stronger.
Ø A personal brand can give rise to many brands from his/her influence.
Ø Personal Brand will build credibility.
Ø E.g. digitaldeepak is a bigger brand today than many digital marketers.
Importance of Communication Skills-
Ø Communication Skills are needed to speak appropriately with a wide variety of people.
Ø Good Communication doesn’t care about vocabulary or grammar.
Ø Communication is central to everything about the human experience. It impacts how we work with others.
Ø Good Communication skill helps in career progression.
Ø Tips to improve Communication Skills.
· Write a lot, the more you write, the better you can write (and also speak).
· Think in English.
· Watch English Movie
· Write as you talk.
· Joined a group who all speak in English.
Direct Response Marketing-
Direct Response Marketing is a type of Sales technique that evokes on the spot response & encourages a customer to take action. The goal of direct response marketing is to convince the customer to the desired action.
If you see in Television which is the most popular form of direct response marketing, the person who is pitching the product mentions the call-to-action several times, phone number, a web address appears on the screen at all the time.
The benefit of Direct Response Marketing-
Ø Produces easily measurable results.
Ø Allows organizations to reach outside of local areas or traditional markets.
Ø Builds relationships with customers and Clients.
Ø DRM is an immediate reaction & immediate revenue from instant sales.
Marketing is very much important for Business because the bottom line of every business is to make money and marketing are essential to channel to reach that goal.
Every business exists because marketing is ultimately what drives sales.
Learn New Skills, there is a process for acquiring new skills.
Work with your new skills and put them into implementation. Implementation will help you to understand in a better way.
Consulting & Mentoring is also a good way to understand the marketing concept.
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