Do you know about - summary of primary Marketing
Prime Interest Rate Today! Again, for I know. Ready to share new things that are useful. You and your friends.Marketing - A Juggler's Art:
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Marketing, in more the one way, is like juggling. This strange analogy will become crystal clear if we take a close look at it. Just like the juggler the marketer too has to do these things to thrive in his business: first, he has to hook his audience; gain their attention straight through several jazzy tricks; and then hold their attention by still more innovative juggling. All this he has to accomplish without losing balance, focus or steadfastness in the art, the industry, in the marketer's case. In short, marketing is all about alluring, attracting and retention a collection of customers for your Company's welfare.
The Purpose Behind:
To quote the American Marketing Association's definition, it is "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing buyer relationships in ways that benefit the society and its stakeholders". If one dilutes all the verbosity and looks at it, marketing means "selling" a product. This is the prime purpose behind any kind of marketing. The "selling" is accelerated with the help of properly chalked out plans called marketing strategies.
Factors that Influence:
With "selling" as the greatest goal, marketing strategies are influenced by two basic factors: first, acquisition of customers; second, retention of the acquired customers. So every other strategy that is laid out will focus on the above two. A firm has to work intimately towards achieving these two to attain the desired cutting edge over its competitors. There are also a few other objectives like creating awareness (informational and educational) about the product, brand-building and accelerating sales.
Traditional Marketing:
With the world changing at every nanosecond, marketing is also reeling under a whirlwind of change. New modes of marketing like e-marketing and online marketing have evolved. Yet primary marketing still holds sway with many corporates. primary marketing operates based on the following strategies.
The Four Ps- Worship them:
The 'Four Ps' or the 'marketing mix' is a cliché with every marketer. Formulated by Jerome McCarthy, the 'Four Ps' refers to the four factors that a marketer has to consider before launching a stock or contribution a service. The marketing mix comprises of Product, Price, Promotion and Placement. In McCarthy's assessment, first and prominent comes the Product-its output and management; second, the process of fixing an affordable price; third, the promotion of the stock which includes advertising, branding etc and ultimately fourth, the placement or distribution of the product, its retailing and the process by which it reaches the customer. All these four elements have to be decided and well planned before pitching into any stock launch.
Segmentation- Categorize your audience:
In primary marketing, the market is segmented into many subsets or segments depending on geographic, demographic, psycho illustrated and behavioral variables. Each segment is homogenous and responds in a particular way to a particular marketing strategy. Small segments are carefully as 'niche' markets or 'specialty' markets. A stock is aimed at a particular segment and is launched only after approved market investigate and buyer investigate on the segment. This assures the marketer that he is not bungee jumping but walking safely and securely on a well-laid road. Hence a stock that is not needed by that particular segment is not produced. This deep prognosis of the target segment is called 'depth segmentation'. While the study of the target customer's behavioral traits, nature, lifestyle etc is called 'Buyer's Profile'. With all these the marketer draws a marketing plan, which is fully geared to reach the target consumer.
Other aspects:
Traditional marketing, unlike New Marketing, is Company-focused and product-based. It intends only to growth the visibility of the firm and its brand. The message conveyed to the buyer is Company-controlled and motivated unlike in new marketing, which is Consumer-focused and attuned to consumer's interests. The firm becomes the active participant while the buyer fades into the inactive and passive zone. A marketer, adopting the primary method, will use his product's Usp (Unique Selling Proposition) to market it. Usp is that unique highlight which is exclusive to a particular stock from a particular brand. With less amount of competitors, Usp-marketing is a very novel method. But in today's world every other brand has all the features offered by its competitor. Hence the glamour of Usp-marketing is fading away.
Advertising and Promotion:
Marketing plans and strategies ultimately end in advertising. For it is advertising which exposes the stock to the world and places it in a platform for the target buyer to view. It gives the stock visibility and helps boosts its sales. Advertising, in general, can be classified into two trends: Above-the-line (Atl) and Below-the-line (Btl). Atl covers all the advertising done straight through media. Btl stands for all the promotions- public relations, sponsorships, merchandising etc. In primary marketing mostly Atl is practiced. The following media are the Atl modes of advertising:
Print Medium: Newspapers, Magazines, Yellow Pages, Posters and Billboards.
Tv & Radio: All kinds of Tv and Radio spots
Other Communications: All kinds of mailers and leaflets
Traditional Marketing - Is it valid today?
When the world shifts gears and operates in a faster pace, it is advisable for us also to result its lead and take up the trend. primary Marketing, say many market analysts, fails to work in today's world. The brand recall is very minimal as the buyer is exposed to a collection of brands. Moreover, as every other brand is as good as its competitor, there is no particular calculate for the buyer to opt for a particular brand. That's why today's marketer aims at 360-degree marketing - an all round marketing strategy outside all the available modes and aimed at constant brand recall. This is where online marketing offer a lot of hope for the marketer as the web reaches out to the prospective buyer in a fastest pace possible. With all these around, the ask of whether primary marketing is valid today rises.
Maybe one can nullify this ask by a few well-grounded answers: primary Marketing is adjudged as the best recipe according to a national gawk conducted in 2005 in the U.S. Jointly by Harris Interactive and public Relations community of America. As per the survey, most of the normal public, Fortune 1000 businessmen and Congressional Staffers voted the primary recipe of marketing as the best method. Though the year 2005 belongs to a dead past now, the statement by the reputed marketer Mr. Wilson will put an end to doubting queries: " primary Marketing helps because citizen still view them".
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