What is Marketing?

Marketing is a place where you can buying and selling, goods and services to customers and other business. Marketing including advertising, promotion, selling to customers. They are some types of marketing which effecting market structure like- social media ( Facebook, YouTube, Instagram etc), newspaper, T.V & radio, or affiliated marketing on behalf of a company.

Marketing also defines by traditional marketing or modern marketing. Both marketing channels were different and unique. Promotion, Placement, Product, Price are the marketing mix were marketing in these Maine categories.

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Marketing Mix

• Product:- This represents an item or service designed to satisfy customer needs and needs. To effectively market a product or service, it is vital to spot what differentiates it from competing products or services. it is also important to work out if other products or services are often marketed in conjunction with it.

• Price:- The sale price of the goods reflects what consumers are willing to buy it. Marketing professionals got to consider costs associated with research and development, manufacturing, marketing, and distribution—otherwise referred to as cost-based pricing. Pricing based totally on consumers' perceived quality or value is understood as value base prices.

• Placement:- the kind of product sold is vital to think about when determining areas of distribution. Basic consumer products, like paper goods, often are readily available in many stores. Premium consumer products, however, typically are available only in select stores. Another consideration is whether or not to put a product during a physical store, online, or both.

• Promotion:- Joint marketing campaigns are also called a promotional mix. Activities might include advertising, advertisement, personal selling, and PR. A key consideration should be for the budget assigned to the marketing mix. Marketing professionals carefully construct a message that always incorporates details from the opposite three Ps when trying to succeed in their audience. Determination of the simplest mediums to speak the message and decisions about the frequency of the communication are also important.

Extended Marketing 7P’s

• People:- All companies are reliant on the people that run them from battlefront staff to the director. Having the proper people is important because they're the maximum amount a neighbourhood of your business offering because the products/services you're offering.

• Processes:- The delivery of your service is typically through with the customer present so how the service is delivered is once more a part of what the buyer is paying for.

• Physical Evidence:- Most services include some physical elements albeit the majority of what the buyer is paying for is intangible. for instance, a hair salon would offer their client with a completed hairdo and an insurance firm would give their customers some sort of printed material. albeit the fabric isn't physically printed they're still receiving a “physical product” by this definition.

 Traditional Marketing vs Modern Marketing

Traditional Marketing

Traditional marketing has been used and enjoyed by people everywhere on the planet, so it’s no surprise that everybody is conversant in this idea. It’s also designed to focus more on selling a particular service or product and uses a spread of mediums to advertise a brand.

Because of these factors, traditional marketing is simpler to know, and corporations won’t have any difficulty explaining their product or service to varied age groups. It also works best with an area audience because it is often centralised during a city or region. What’s more, they will be accessed without an online connection and kept for reuse.

• NewsPaper:- This sort of traditional marketing strategy may be a quick way for a corporation or individual to spread their information. As such, it’ll forever endure the ever-changing marketing strategy landscape.

• TV and radio ads:- Thousands of individuals tune to the radio a day, so advertising a product or service through this channel still works.

• Flyers and brochures:- Flyers and brochures are designed to capture the eye of a good audience. They typically use vibrant colours to convey a message or display a picture the reader can easily remember.

• Billboards and signage:- Using outdoor billboards and signage are great ways to advertise a business to daily drivers, commuters, and other people who are walking around the city. Direct mail. This traditional marketing strategy is employed to spread awareness of a particular product or service to a selected target market. It uses mail to deliver promotional printed pieces like postcards, brochures, and letters.

Modern Marketing

While traditional marketing’s focus is that the company’s product or service, modern marketing is more customer-oriented. Businesses that adopt this strategy always put their consumers’ satisfaction in particular else, so they’re ready to address their audience’s unique wants and wishes.

Since modern marketing uses a digital platform, it’s more customisable. It also can easily adapt to vary, so it's no problem maintaining with the newest marketing trends. Plus, it is often accessed on any device, which suggests companies have a better chance of reaching a worldwide audience. All of those factors help build customer loyalty and trust, also as worldwide brand recognition.

• Email marketing:- People check their emails multiple times each day, so email marketing may be a fantastic strategy to advertise a product. However, this works best with individuals who have already engaged with the brand.

• Internet ads:- Many websites and online platforms are willing to display advertisements for a price. Google ads and YouTube video ads, for instance, are two large advertising platforms which will advertise a particular product or service to high-targeted audiences.

• E-Commerce Websites:- Creating an e-commerce website is an efficient way for people to conveniently learn more a few brand’s products. By sharing the online site's URL, people that click on the link are instantly delivered to the e-commerce website where they will scroll through the pages and appearance at the brand’s offerings.

• Using social media sites like Facebook, YouTube, Twitter, and Instagram:- Social media websites have a built-in data analytics tool that permits brands to stay an eye fixed on their success, engagement, and ad campaigns. It’s also easier to make a buzz using Facebook, YouTube, Twitter, or Instagram thanks to online marketing trends like using hashtags.