Marketing is a Game of Strategy and Emotion

Welcome Readers,

                                 You have landed on this article, then I am damn sure you are curious to know about Marketing. I will try my best to uncover the basis of marketing secrets and fundamentals. I will also deal with Traditional marketing and digital marketing as well.

Also some case studies on the marketing of products. I will also keep a short light on interesting facts and strategies. I will also Deal the effect of communication on marketing, Role of Economics Behaviours on marketing, the role of Personal Brand, Digital Vs Traditional Marketing culture.

This article will help Especially the newbies in the field of marketing, Freelancer, Entrepreneurs, Bloggers & Small business owners.

Did you know the first impression of content marketing was found 4200 B.C in a cave painting?

What is marketing?

It is the process of planning and executing, conception, pricing, promotion and distribution of ideas, goods and services to create an exchange that satisfies individual and organizational objectives.

One of the great personality of marketing Philip Kotler says-

Marketing is Social and Managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

LAWS OF MARKETING

Marketing work on the principle of science. It does not depend on creativity. Actual marketing starts before creating a product.

It will be better to identify consumer behaviour first before launching the product.

To successful marketing before Deciding the product, price, positioning & profit we must have to analyze the market requirements and consumer behaviour.

Consumer Behaviour Depends on-

1.   Psychographic

2.   Demographic

3.   Ethnographic

4.   Geographic

Marketing is a battle of perception, not products. There is no objective reality. There is no best product. The basic issue in marketing is not convincing the prospects that you have a better product. But creating a category that you are first in.

The leading brands are always the first brand in the consumer mind. People always remember the first person in mind.

Example: What is the name of the 20th person to swim the English Channel?

You probably don’t know. 

But when I ask you the same question, who is the first Indian woman and first Asian woman to swim the English Channel?

You can easily answer "Arati Saha".

So, try to become the first in your category rather than try to become first in the market.

It is also better to be someone mind and tongue than to be first in the marketplace. Brilliant marketers have the ability to think like how the customer thinks. They put themselves in the shoes of their customers.

Example: Indra Nooyi Pepsico CEO always visits the malls and stores of their product to get an idea on products and she thinks as a customer point of view to enhance the user experience. She always tries to read consumer behaviour to make his product better. Once she realized that one of his products was no fit then he changed all his Equipment of Company so he can not lose his customer experience. 

Apart from marketing knowledge, you are not supposed to compromise with your product. Don’t forget it’s your product or knowledge that you are known in the market. Once your product fits with customer requirements it will sell itself. And you Being a marketer your task not only finished with only you sold the product once But retaining the customer with you a long time and making habitual of the product. One should generate trust context with his brand and product. Most of the time customers are more willing to buy or hear whom they are familiar with.

If your product and Marketing Strategies are Effective on people, then the cost will also not matter. 

I phone is the best example of this 

Advertising, Slogans, Sales, Promotion, Copywriting are components of marketing. Some of the brand names become a verb in the market.

Example- People go in the shop asking for Colgate, not the toothpaste. 

Reverse innovation is also a marketing strategy to keep your product alive according to time.  

Example - Maruti Suzuki 800 is the largest selling car in the world. Because it is always working on reverse innovation and fulfils the customer requirements according to time. In the same case, Tata Nano Disappeared from Market. Because They were not able to adopt change according to consumer behaviour.

LEARNING MARKETING IS IMP, WHY?

Marketing gives the best and immediate ROI. If you have plenty of knowledge and your product is best in the market to fix the customer issue. Unless and Until you are not visible in the market, no one will entertain you. 

If you are the CEO, Owner, you must be aware of marketing fundamentals and its techniques.

And most important if you are Entrepreneurs and small business owners then you have a deep knowledge of marketing. Because you can not rely on another one or you can not full outsource marketing. 

Word of mouth marketing is the best marketing channel ever either its traditional or digital.

Example: The world No 1 MLM Company Amway has 840 Cr USD Business. And Many Indian Companies are emerging in this sector. 

That is why multilevel marketing system (Chain system) is also dominating physical marketing.

CROSS PROMOTION TECHNIC

Cross-promotion technique is the best effective method of marketing even if you have very little or no Budget. 

In this, you have to choose any non-competing Business partner where you can mutually promote each other. Till now we can see this method in traditional marketing even in some big brands and Companies. 

This is now most suitable for small Business owners & Entrepreneurs. It is also the best method to expand the existing market value.

Example- Macdonald and Coca-Cola are selling products by cross-promotion method.

ROLE OF COMMUNICATION IN MARKETING

A Perfect marketer is also a good communicator. Communication skill has its own importance in selling products. 

But Communication is not all about you are just fluent in any language, Here Communication means the transfer of your thought into your customer’s mind. So, they can perceive it with themselves. 

Your communication will also play an important role to attach your customer Emotionally and Joyfully. Communication is throughout the process it starts before selling the product and remains with the customer after purchasing the product. 

If your product is very powerful but you are not able to make effective communication with your customer well, your customer can lose interest in your product.

Communication doesn’t matter your degree and Qualification and your background.

RELATION OF ECONOMICS AND MARKETING

A marketer must have knowledge of economics. The economy has a direct impact on marketers to push their products to consumers end.

Understanding the connection between marketing and economics can help business owners allocate their marketing resources and respond to changes in the economic climate.

And the government has initiated loan and Debt facilities at lower interest and also providing subsidy to startups. India is also in the developing phase and there is also huge potential. 

Even the government has set up many small local banks to provide loans to small vendors Because they know there is also huge potential in a small market.

TRADITIONAL VS DIGITAL MARKETING

I think everyone is aware of traditional marketing methods and No doubt still it is a powerful and Instant method of Selling and Generating revenue.

In India, most of the population is concentrated in the rural area and people prefer physical marketplace because they are habitual of this. Most of the people still have an emotional value associated with TV, Radio, Newspaper Ads. Because this kind of Marketplace has decades of practice and great impact on the customer mind.

Surprisingly, digital marketing is also a skyscraping technique nowadays. It has changed consumer behaviour and culture. It is more cost-effective and rewarding Because it connects people globally.

WHY is THE DIGITAL MARKETING BECOMING POWERFUL DAY BY DAY?

Do you know 4.58 B People using the internet in the word? It grew 345 Million in the past 12 months. Almost 950K New users are adding each day by day. 

According to the source, there are 5.15 B Mobile phone users in the world. 121 Million has been added in just the past 12 months.  

In 2020 There 3.81 B People Active on the social media platform and this will become 4.5 B in 2025.

You can easily target customers from one corner to another corner of the world. Now you can also identify the power of digital marketing according to this data.

Example - The consecutive win of the current central government of INDIA is the best example. They utilized the digital resource and Social platform well to reach every corner of INDIA

CATT MARKETING FUNNEL

Wealth =[n]^CATT

This is a kind of modern marketing formula. It will scale up your business in the Digital Marketing Sector. 

[n] Niche- First you have to identify your niche which you will target and generate wealth from them. You have to filter the market and identify the potential niche. your Niche must be specific, it is neither too broad nor very narrow. Be focussed on the niche you want to target

[C] Content- you must have relevant content. So, you can attract your niche. Content may be a form of Blog, Infographics, ebook, Live webinar etc Here you can capture your niche information. 

[A] Attention - Now you have to drive the attention of your niche on your content. You can use many tools like to drive traffic by organic or paid methods like SEM, SEO

[T] Trust- After attention, you have to create trust between you and your audience. There are a lot of ways like tripwires, Consultation, Free eBook. You can create the community of your audience. You can send a personalised message to your audience to make trust in you.

[T] Transaction- Now you can create the transaction with your customer This is the final Destination. Now you can convert your leads in Business. And this can be done with a natural sales method. You should not overreach your customer in this process.

NOW THE POINT IS HOW TO CHOOSE NICHE

1. Identify your Skills & passion
2. Identify the Market According to your niche you Selected 
3. Narrow Down your niche 
4. Check out the competition 
5. Test your Niche 

INTEGRATED DIGITAL MARKETING

Digital Marketing is a bunch of many services like SEO, SEM, Content Marketing, Email Marketing etc. These Services are ingredients of Digital marketing

Integrated Digital Marketing method keeps engaging your customers and prospects with your Brand or Company. Its combination of all parts of marketing Communication to work together. Because Different audiences have Different tests. You have to tackle the right Integrated approach at the right time. By this method, you can Beat the market Competition. Marketing Automation is also a great part of this.

ESTABLISH YOURSELF AS PERSONAL BRAND

When communicating Between person to person then it's more effective than a brand logo. A personal brand allows you to Build More Trust Between you and your Prospect.

It boosts your online presence and people are more likely to want to communicate.

Entrepreneurs are most needed for this as a Personal Brand. A personal Brand will excel you to reach the goals. Your personal Brand will Create authority in Online Presence. And Remember building a personal brand takes time and patience.

Example- You can see the Influencer marketing on Instagram Become $1 B Industries. Some people establish themself as a personal brand and Public Figure earn a good amount just Promoting the Other Product and Services.

Image Source -freepik.com

In the future, robots can do almost all types of services and tasks. But Robots would not be able to do marketing. Because you can feed emotion and feel to the robot. Because it's a natural gift in human beings. 

If you do marketing to attract everybody you will not attract anybody.

If you are belonging to any field of profession. But if you learn marketing it will like the

“cherry on the cake”. 

If you think this article is a creating little stir in your mind then please comment. Your feedback and suggestion will help me to improve.

Note- This is part of DDIP Assignment.