I fell in love with marketing years ago, but back then who knew I was writing my blog. Alright about the Introduction to marketing,
“Marketing is the means by which an organization communicates, connects, and engages with its target audience to convey the value and sell its products and services”
Everyone has different thoughts about Marketing, so you need to understand what Marketing is and why it’s so important.
- What is marketing
- Scope and importance of marketing
- Various functions of marketing
1. What is Marketing
If you are bored and listening to music through your earphone and suddenly it stops working and you search on google for earphones and somehow you come up with Beats Headphones but you can’t decide to buy that at that time and leave that page. After some time you find an ad on a website about those earphones which you had searched previously and it keeps appearing on all social media and websites wherever you visit. And you get notification from an ecommerce website that has the same headphone on a 10% discount. So what would you do then… you somehow end up buying that earphone through an ecommerce website. This is marketing, you are subconsciously interacting with marketing. Food, toothpaste, clothes, and daily uses things purchase you in some way, brand and business captured your thought and presented offerings to you.
As you all know APPLE is the richest company in the world. Its market capitalization is greater than in many countries. But how Apple achieves such dominance, and for example, their consumers have more than 1 product for the brand. So have you ever thought about how Apple achieves such a high level of brand loyalty? Is it about the quality, innovation or marketing that they have done right?
- Innovative and unique products
- Consumer experience
- Seamless syncing between devices
- Focused marketing strategy
- key activities in marketing
In the morning you are reading a newspaper and find an ad for soft drink and while you are going to work you hear the discount on footwear on the radio. Also in the meeting, you get the message about the recharge of your phone or loan. All these are forms of marketing.
- There are three key activity in Marketing
- Creating offerings
2. Scope and importance of marketing
The current skill that digital marketers lack is to understand the business. What they have to understand is business Goals, it could be customer satisfaction, Gaining sales, and market share.
What digital marketing needs to understand the context of the business in which they are operating. It could be any business. The first thing is to understand the business.
Scope of marketing Categories
- Goods and Services
- Event and Experiences
- People, organization and places
- Ideas and Benefits
Goods and Services-
When you watch tv or banners of Healthy drinks, they are marketing their Product. And when you see the Brochure Uber a car booking, they are marketing its services.
Event and Experiences-
The event could be a concert or a Cricket tournament. The experience could be Waterpark and Scuba diving.
People, organization and places-
As people like celebrities and actors like Akshay Kumar, organizations like Wipro and places like Kerala all need to be consistently promoted and marketed.
Ideas and Benefits-
Increasing Awareness about anything such as aids and Discourages about Smoking. All need to be promoted for improving health and social well being.
Importance of marketing Categories-
- Define Purpose
- Create Awareness
- Supports product Distribution
- Establishes reputation and Brand Image
- Maintains long-term Relationship with Customers
It allows us to identify the purpose of the consumers.
It allows us to gain the attention of its customers.
Supports product Distribution-
It allows the goods and services available to its consumers at the right time.
Establishes reputation and Brand Image-
it has a brand recall whenever they think about the product/service category.
Maintains long-term Relationship with Customers-
It allows customers to keep coming back to a brand for the latest product updates, prices, availability, etc.
3. Various functions of marketing
Most of the Digital Marketers have a skill gap that I have seen in myself. When I just start my seo journey I like to do keyword research, on page, off-page and so on..
But in today’s world if you need to be a step ahead as a Digital Marketing you need to understand the marketing technology. If you are only a specialist in SEO and Social Media you will never understand the single way of customers and you will miss a lot of elements that are in play today.
Also in digital marketing, you have to understand the Market Search, Consumer behavior for a successful career.
Functions of marketing
- Marketing research
- Market Planning
- Customer support service
This aspect of selling focuses on gathering and analyzing information about your customers. It involves answering questions like who is your primary audience, what are their needs and preferences, what are their shopping preferences and far more. To answer these questions we need to do extensive research on consumers.
This aspect focuses on developing strategies supported by the marketing research conducted by a brand. It also needs planning to who will do what, when, and how. For example- Mcdonalds before entering the Indian markets, do proper market research. They do research and come up with a new menu based on our preferences because they can’t serve beef and pork on their menu.
This aspect of selling is about creating a singular name and image within the minds of the buyer to form it more recognizable. For example- Mcdonalds have an emotional attachment with the kids, using various fun with golden arches and Ronald the clown which is difficult to break.
Here, marketing focuses on informing a customer about the brand’s product and inspiring them to shop for it. This is often done to draw in new customers also as retain existing customers.
Customer support service
This aspect of selling focuses on giving continuous support to consumers also as gathering their feedback to repeatedly improve your products.
Additional reading material for reference:
Introduction to marketing
Role of marketing
Scope of marketing