What is marketing? Marketing refers to the act of persuading people to make a purchase a commodity, service, or item. The marketing or promotion of the product, service or commodity is used to sell it to the general public. Today, marketing is used by most companies as a tool to increase their sales or marketability. The Internet has become a powerful marketing tool that is used by many companies to advertise themselves to the public.
Marketing has three main objectives; to gain recognition for a brand, to create awareness of the product or service, and to meet customer needs. A marketing strategy will focus on these three objectives in order to produce the most favorable results for the company. The three primary forms of marketing are the primary marketing channels, such as advertising on television, radio, and print media, and the secondary marketing channels, such as social media marketing (Facebook, Twitter, etc. ), traditional advertising through direct mail, online marketing, and the third party marketing channels, such as mobile marketing, content marketing, and hybrid marketing strategies.
A marketing strategy should be organized around four Ps. These Ps. Our product, position, price, and goal. The first two, product, refers to what the company has to offer to the customer. The third Ps. is the position or role, the product or service plays in the lives of the customers.
The fourth Ps. is the price of the product or service in relation to the market. Marketers often have to deal with fierce competition in their markets and need to find the best combination of product, price, and brand that can attract the greatest number of new customers while retaining existing customers to grow their brands. The fifth and final Ps.
Digital media provides a platform for the interactions between the customer and brand at a personal level. The interaction takes place in the forms of reviews, comments, recommendations, and social networking. In a world where information travels faster than air travel, the power of digital media to bring the customer face to face with the brand’s offerings is unparalleled. What is digital marketing?
Digital marketing definitions should include the elements of the different models of advertising and promotions that have historically worked for marketers. Marketers also need to understand the customer’s behavior and cultural preferences when deciding whom to advertise to and how they will react when the product or service has been advertised or promoted in an inappropriate fashion. Marketing gurus agree that advertising through social media should be taken slowly and carefully to establish a foothold in the customer’s mind.