Marketing is transforming the Business to Smart, Smarter & Smartest
According to American Marketing Association (AMA), Marketing is "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." In simple words, Marketing is referred to a series of activities that a company needs to follow to promote selling of their product and services.
Marketing is all about its 4Ps which are product, price, place and promotion. Marketing is the most effective tool of a business because it connects the customer by knowing them how it will cater their need and reduce their problems and give them a stress-free life. Business ideas are the factor that make you extraordinary in the market and helps to win over the trust of the consumer in the market. Apart from an exceptional business idea, a robust channel of marketing and promotion is very important to create a remarkable recognition in the industry. Marketing is a common string that attaches the seller and customer in an effective way and maximizes the sale of the seller.
Sometime, people tend to forget about the product or services which they used to buy. Firstly, time advertisement, posters or internet enabled mails or messages help the customers to get attached to the brand. Secondly, marketing is to drag the attention of the potential customers using vibrant advertisements, tight punch line, emotional videos for sales and promotion of the products as well as brand. Thirdly, marketing aims to match a company's products and services to the desired quality of customers. Quality is the main element if it is maintained properly, the customers will be indeed attracted to the brand too. If your advertisement drags attention of the customer by connecting them by a strong messages and slogans, it will help to increase the number of buyers and as a result, the profit will magnify.
One of the most accurate example for marketing and strategy is ‘Wow!Momo’, it is very well recognized brand now, which started with a 6’ x 6’ kiosk in Kolkata founded by two undergraduate students of St Xaviers’ College back in 2008, is now reached to a valuation of 450 crore, and became a sensation of people belonging to all age groups through proper channels of marketing and promotion, and obviously with their ever delicious and finger licking delicacies.
When you start a new brand and produce particular products and services for targeted customer, it is very important to reach the news to them otherwise your brand will remain unknown and rather than creating an identity in the national and international market, it will be limited to the local market. Marketing is the tool that helps the new brands to get noticed and recognized as a brand. Therefore, incessant marketing and promotion through website and commercials will help to increase the view of the products on website and it will in turn help to increase the profit percentage.
Further, to fetch the maximum benefit of marketing you need to understand the different types of marketing. With the advancement of science and technology the marketing strategies have changed drastically and the reach of internet has fueled up this speed.
Different types of marketing channels are-
1. Traditional Marketing: It includes offline marketing methods, including direct sales, television, radio, and mail. This option may still be suitable for some businesses and audiences. 48 percent of the marketers still use radio for promotional advertisement because of its wide expansion and huge reach from remote areas to high rising apartments.
2. Print Marketing: It includes newspapers, magazines, billboards and local publications. Being one of the oldest marketing channels, 82 percent of the consumers trust advertisements on print media like newspaper, magazine, catalogues and pamphlets.
3. Event Marketing: It allows you to create advertising materials to showcase at industry events, such as seminars, conventions, and conferences. In big events, taking booths and stalls can attract more consumers and help to increase customer base. Your brand can increase recognition by participating in sponsorships, like sporting events, award shows, exhibition, festivals and different types of corporate events.
4. Digital Marketing: Whenever you use the internet to inform people about your brand, you are using digital marketing. You can use any type of digital marketing channel including social media, email, and content marketing. The global digital advertising and marketing market was estimated at $350 billion in 2020 and is projected to reach $786.2 billion by 2026.
Digital Marketing has its wide array and channels which are-
i. Content Marketing: It involves producing, creating, and disseminating content targeted at a specific market. The content could be videos, blog posts, social media posts, guest articles, or podcasts. Always plan your content in advance to achieve maximum and targeted results. It is very effective tool to let your customer know how it is and what it is. A study by the Content Marketing Institute found that 80 percent of businesses use content marketing to promote their products and services.
ii. Social Media Marketing: Today's era is the era of social media. We sleep and wake up with the touch of social media. According to the global data of 2023, approximately 4.9 billion people use social media across the world, India itself has 33.4 percent penetration. This huge reach with wide audience base, social media platforms like Facebook, Twitter, LinkedIn, YouTube, and Instagram can be the fittest platform for showcasing your uniqueness through your products to drag attention of your targeted customer base. Statistics on social media says that people are using social media for average 5-6 hours on a daily basis. Social media based marketing is valued at $49.09 billion. According to Forbes, 77 percent of small businesses use social media to reach to their targeted customer, 90 percent of social media users follow at least one brand on social media, 76 percent of them purchase what they perceived and checked in social media.
iii. Influencer Marketing: Youth of today is addictive to social media like Twitter, Facebook and Instagram. Here, known faces promote your brand and products which win over the trust of their followers and likewise the users of the product. Statistics say that 61 percent of the consumer trust influencer’s recommendation through ads, commercial videos, promotional videos on YouTube, and Instagram reels. 93 percent of the marketers use influencer marketing. Global data on influencer marketing shows that businesses are making $5.20 for every $1 spent on influencer marketing.
iv. Video Marketing: What we see is always more effective than what we hear so, the video commercials on websites, blogs, and television are way more effective than radio, or promotional calls. Digital video marketing is what we perceive in various social media platforms like Facebook, twitter, YouTube, which has affected the whole scenario of this competitive industry of dragging customer’s attention. The amount spent on digital advertising in 2022 has gone up to16.2 percent from $491.70 billion in 2021.
As per National Retail Federation data, 72 percent of consumers are more likely to shop at a brick-mortar store that has a positive physical environment. Another research indicates 80 percent of consumers are more likely to make a purchase if brands offer them personalized experiences. This era of digitalization has revolutionized the world of business and introduced us with various tricks and techniques of marketing.
In a Nutshell, starting a business is indeed the heaviest of the lifts which needs a continuous source of funding and astounding ideas, hard work and planning. Business ideas are the factor that makes you extraordinary in the market and helps to win over the trust of the consumer in the market. A thorough study of market is needed because it’s the simplest way for entrepreneurs to keep up with market trends and maintain a competitive edge by scaling up your business opportunity. Convenient ways of marketing has been there since quite a long and has created a wide expansion of diverse audiences.
On the other hand digital marketing has reached the same spot within a very short period of time owing to internet and social media. It’s time saving and cost effective prompt way of sending and receiving customized messages and making its penetration prominent in today's era. Startup is like a baby, which demands your love, passion, nurture and care. A business needs an innovative idea and a clear pathway to execute the ideas in its best way to bring the baby to a heavy-lift business by finding a broad customer base in the vast industry and helps to scrutinize and examine the market according to the targeted customer to set your heavy foot in the vast industry.
Marketing is all about its 4Ps which are product, price, place and promotion. Marketing is the most effective tool of a business because it connects the customer by knowing them how it will cater their need and reduce their problems and give them a stress-free life. Business ideas are the factor that make you extraordinary in the market and helps to win over the trust of the consumer in the market. Apart from an exceptional business idea, a robust channel of marketing and promotion is very important to create a remarkable recognition in the industry. Marketing is a common string that attaches the seller and customer in an effective way and maximizes the sale of the seller.
Sometime, people tend to forget about the product or services which they used to buy. Firstly, time advertisement, posters or internet enabled mails or messages help the customers to get attached to the brand. Secondly, marketing is to drag the attention of the potential customers using vibrant advertisements, tight punch line, emotional videos for sales and promotion of the products as well as brand. Thirdly, marketing aims to match a company's products and services to the desired quality of customers. Quality is the main element if it is maintained properly, the customers will be indeed attracted to the brand too. If your advertisement drags attention of the customer by connecting them by a strong messages and slogans, it will help to increase the number of buyers and as a result, the profit will magnify.
One of the most accurate example for marketing and strategy is ‘Wow!Momo’, it is very well recognized brand now, which started with a 6’ x 6’ kiosk in Kolkata founded by two undergraduate students of St Xaviers’ College back in 2008, is now reached to a valuation of 450 crore, and became a sensation of people belonging to all age groups through proper channels of marketing and promotion, and obviously with their ever delicious and finger licking delicacies.
When you start a new brand and produce particular products and services for targeted customer, it is very important to reach the news to them otherwise your brand will remain unknown and rather than creating an identity in the national and international market, it will be limited to the local market. Marketing is the tool that helps the new brands to get noticed and recognized as a brand. Therefore, incessant marketing and promotion through website and commercials will help to increase the view of the products on website and it will in turn help to increase the profit percentage.
If you are planning of starting a business you need to know the different channels of marketing.Know your customer better than you know your family i.e. treat your customers as your family, so that you never compromise your quality of products & services
Further, to fetch the maximum benefit of marketing you need to understand the different types of marketing. With the advancement of science and technology the marketing strategies have changed drastically and the reach of internet has fueled up this speed.
Different types of marketing channels are-
1. Traditional Marketing: It includes offline marketing methods, including direct sales, television, radio, and mail. This option may still be suitable for some businesses and audiences. 48 percent of the marketers still use radio for promotional advertisement because of its wide expansion and huge reach from remote areas to high rising apartments.
2. Print Marketing: It includes newspapers, magazines, billboards and local publications. Being one of the oldest marketing channels, 82 percent of the consumers trust advertisements on print media like newspaper, magazine, catalogues and pamphlets.
3. Event Marketing: It allows you to create advertising materials to showcase at industry events, such as seminars, conventions, and conferences. In big events, taking booths and stalls can attract more consumers and help to increase customer base. Your brand can increase recognition by participating in sponsorships, like sporting events, award shows, exhibition, festivals and different types of corporate events.
4. Digital Marketing: Whenever you use the internet to inform people about your brand, you are using digital marketing. You can use any type of digital marketing channel including social media, email, and content marketing. The global digital advertising and marketing market was estimated at $350 billion in 2020 and is projected to reach $786.2 billion by 2026.
Digital Marketing has its wide array and channels which are-
i. Content Marketing: It involves producing, creating, and disseminating content targeted at a specific market. The content could be videos, blog posts, social media posts, guest articles, or podcasts. Always plan your content in advance to achieve maximum and targeted results. It is very effective tool to let your customer know how it is and what it is. A study by the Content Marketing Institute found that 80 percent of businesses use content marketing to promote their products and services.
ii. Social Media Marketing: Today's era is the era of social media. We sleep and wake up with the touch of social media. According to the global data of 2023, approximately 4.9 billion people use social media across the world, India itself has 33.4 percent penetration. This huge reach with wide audience base, social media platforms like Facebook, Twitter, LinkedIn, YouTube, and Instagram can be the fittest platform for showcasing your uniqueness through your products to drag attention of your targeted customer base. Statistics on social media says that people are using social media for average 5-6 hours on a daily basis. Social media based marketing is valued at $49.09 billion. According to Forbes, 77 percent of small businesses use social media to reach to their targeted customer, 90 percent of social media users follow at least one brand on social media, 76 percent of them purchase what they perceived and checked in social media.
iii. Influencer Marketing: Youth of today is addictive to social media like Twitter, Facebook and Instagram. Here, known faces promote your brand and products which win over the trust of their followers and likewise the users of the product. Statistics say that 61 percent of the consumer trust influencer’s recommendation through ads, commercial videos, promotional videos on YouTube, and Instagram reels. 93 percent of the marketers use influencer marketing. Global data on influencer marketing shows that businesses are making $5.20 for every $1 spent on influencer marketing.
iv. Video Marketing: What we see is always more effective than what we hear so, the video commercials on websites, blogs, and television are way more effective than radio, or promotional calls. Digital video marketing is what we perceive in various social media platforms like Facebook, twitter, YouTube, which has affected the whole scenario of this competitive industry of dragging customer’s attention. The amount spent on digital advertising in 2022 has gone up to16.2 percent from $491.70 billion in 2021.
As per National Retail Federation data, 72 percent of consumers are more likely to shop at a brick-mortar store that has a positive physical environment. Another research indicates 80 percent of consumers are more likely to make a purchase if brands offer them personalized experiences. This era of digitalization has revolutionized the world of business and introduced us with various tricks and techniques of marketing.
In a Nutshell, starting a business is indeed the heaviest of the lifts which needs a continuous source of funding and astounding ideas, hard work and planning. Business ideas are the factor that makes you extraordinary in the market and helps to win over the trust of the consumer in the market. A thorough study of market is needed because it’s the simplest way for entrepreneurs to keep up with market trends and maintain a competitive edge by scaling up your business opportunity. Convenient ways of marketing has been there since quite a long and has created a wide expansion of diverse audiences.
On the other hand digital marketing has reached the same spot within a very short period of time owing to internet and social media. It’s time saving and cost effective prompt way of sending and receiving customized messages and making its penetration prominent in today's era. Startup is like a baby, which demands your love, passion, nurture and care. A business needs an innovative idea and a clear pathway to execute the ideas in its best way to bring the baby to a heavy-lift business by finding a broad customer base in the vast industry and helps to scrutinize and examine the market according to the targeted customer to set your heavy foot in the vast industry.
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