A Quick Overlook of Marketing – Your Cheatsheet
ALL YOU NEED TO KNOW ABOUT MARKETING.
Traditionally, the term “market” refers to the place where buyers & sellers meet for exchange of goods & services. This term is very common but it is mainly divided into two depending on the quantity of goods being sold, which can either be a wholesale market or a retail market.
A market has a more broader meaning in the modern world. It refers to the sets / collection of actual or potential buyers of a products & services.
Marketing is divided into two, the traditional marketing and digital marketing. this article aims at discussing the two methods in details.
01) TRADITIONAL MARKETING: Traditional marketing refers to any type of promotions, advertising or publicity,which are generally used by the companies/ business entities for a longer period, & that has a proven success rate.
in the past, marketing was defined as the flow of goods from their points of production to their points of consumption. the definition is mainly product oriented. here the producer concentrate more on the product rather than on what the consumer wants.
Most methods of traditional techniques include billboards, advertisements as well as newspaper advertisments. television broadcast advertising as well as radio broadcast are some of the other forms of traditional marketing.
WHY DIGITAL MARKETING
it is important to understand that the fact that technology is changing rapidly, this calls for the change in marketing. Therefore, digital marketing is part of computerisation. In the past two centuries, there were no mobile computers or even computers leave alone internet connection. as a result of the growth of technology, mobile phones, as well as computers have been introduced in our lives and hence revolutionizing everything. Shortly after this, internet connection was introduced. Examples of the digital marketing includes the websites, social media networks, emails are the common.
the term digital marketing is abroad term that refers to advertising and promoting products by using social media, websites as well as emails. other terms used to refer to this kind of marketing include internet or online marketing.
The techniques used to market products and services include search engine marketing, search engine optimization, campaign marketing as well as content marketing. major reasons for the increasing use of digital marketing.
1) Digital marketing techniques are more cost effective than traditional concept.
2) Digital process faster than old one, thereby result oriented.
3) Any individual / company track his/ her performance.
Huge amounts of revenues can be earned by using this method.
Interaction with the target audience is possible making it to be of choice.
There are many factors that tend to influence the success of an interaction between a firm and its customers as well as the relationship created.