In this article, I am sharing an overview of marketing, concerning the execution of digital marketing strategies. Because I have seen many of my colleagues and peoples in which many of us are getting good results and most of them are getting frustrated for not getting desired results.
One of the reasons I found that, in digital marketing, most people have minimal understanding of the basics of marketing. We must understand that digital marketing is a way to do marketing with the help of the internet which empowers us to glorify marketing strategy. So we first need to understand the basic factors involved within the marketing to do better marketing, traditionally or digitally.
I hope this article will help you to a better understanding of marketing and, helps in your marketing strategy execution.
What is Marketing?
Marketing is set of exchange offering process which creates cohesive value for the customers.
Significance of Marketing.
Marketing follows a series of steps that allows you to identify the customer problems that can be analyzed and find the opportunities in the market that helps to create the materials as per the need, want, or demands from the consumers to reach the targeted customers.
The ultimate goal of marketing is to build trust and create the transaction that leads to making a profit. The trust and transaction processed through by,
- Generating leads
- Creating customer value
There are different stages and principles that are in marketing to process out a cohesive output. These concepts will help you to understand the value system involved within the marketing to bring out and build great effective campaigns for your services or products.
Before creating a campaign we must understand the value that will provide through your products or services to your targeting customers.
Let’s have a look into the basic concepts and principles involves in marketing.
Four stages in marketing.
The four stages of marketing evolve through:
Finding the opportunity with respect to your niche by executing proper market research. Then the thought process of creating a route map to present your product/services in the market.
Idealizing and creating a perfect marketing strategy is a half-covered segment in marketing.
After creating a strategy you need to implement those in a way to reach your targeted customers.
Onwards the reprocessing starts by analyzing the results you got from the implementation of your strategy that helps you to understand the findings much better way to implement better ideas into the campaign.
Seven principles of marketing. (The 7P’s).
Let’s say when we are investing our time and energy in something there must be some commodity where are we engaging. It’s might be tangible or non-tangible.
Likewise, when you say marketing there should be some commodity to do so. It’s might be physical or non-physical.
So, the principle of marketing is based on the commodity which relies on the above-provided points.
There should be some product or service to sell in the marketplace. You must be aware of the opportunity of the product value is appropriate for the market and customers. For the service/product you are going to sell you must examine its significance compared to the other available products in the market. And, your product must fulfill the requirement of the customer and market.
The price of your product/services must be appropriate to the current situation of the market. The price should be affordable and attractive to the segmented targeted customers. And, you can revise your price structure of demand and market fluctuation.
Your customer must be aware of your product/service. Let them know how it can be useful and fulfill their requirements if they go for your product/services. It is up to you, how you are going to promote your products. In today’s scenario, there are various platforms to promote.
Four C’s of the Marketing mix (4C’s)
Five marketing concepts
The marketing concepts are directly related to the want, need, and demand of the customer and market.
Types of marketing.
Marketing is always evolving. From “door to door” to this digital era, marketing itself getting advanced day by day. The internet has changed the outlook of marketing in a way to do customized marketing for your targeted set of customers.
Broadly in two types:
- Traditional marketing
- Digital marketing
(And both terms have their own variance which will be explained on another blog.)
Traditional marketing refers to the process which can’t be online. In traditional marketing following aspects are used to convey the marketing strategies:
- Print Ads
- Event marketing
- PR (Media Management)
Digital marketing is a way of doing marketing through the internet. The various platforms and their tools are used to execute marketing.
Digital marketing opens a huge opportunity to do marketing in a way, where can you customize your strategy regarding the needs of consumers and the market.
Some of the tools and platforms are provided below that can perform to do digital marketing.
- Email marketing
- Content marketing
- Online Advertising
- ORM (Online reputation management)