Real Marketing Fundamentals to stand out in the crowded Market.

Do You Know What Real Marketing Is All About?

95 Out Of 100 Takes Marketing Wrong.

People think marketing is all about advertisement and sales, but it is not true marketing is much more than advertisement and sales. Let's get deep into what Real marketing is all about

Beginner's guide to marketing.

Let's define real marketing by a famous author.

Definition of marketing by William J. Stanton:

"Marketing is the creation and delivery of a standard of living; it is finding out what consumers want, then planning and developing a product or service that will satisfy those wants; and then determining the best way to price, promote, and distribute that product or service. stated more formally, marketing is a total system of business activities designed to plan, price, promote, and distribute want-satisfying goods and services to the benefit of the present and potential customers later".

Concept of marketing in layman words,

Marketing starts with Science, market research, and Arts, Analaysizing consumer's needs and wants, collecting data, creating Products or Services, Price Place, Promotion communicating the right information to the right people at right time in exchange for profits. we will discuss the most important foundation of marketing on which whole business exists 7P's of marketing-mix later.

Two Sides of the Same Coin.

Marketing is a Combination of an"Art" (Skills, Intuition.) and "Science"(Facts, Experimentation.) both, which involves Psychology and Technology, Successful marketing Involves both logic, data collection, and Market Research of a scientific approach and the Dynamic, Creative and adaptability of an artistic approach. Combining fact with intuition is what puts the top marketers in the Crowed marketplace.

Hence it is proved that—marketing is both an art and a science.

Do you know what makes a business successful? 

Marketing-mix (Digital marketing-mix) Makes business successful 7P's of marketing is the foundation for most successful Businesses many companies like Flipkart, Myntra, Apple, Amazon, Netflix use this business model 

what is a marketing mix?

Marketing-mix is a business model foundation strategy founded in 1960 by E.J McCarthy, initially, there were,4P's. (Product, Place, Price, Promotion.) Later, In the twenty century 7'Ps extended 3 more( People, Physical evidence, Process.) introduced. Now sometimes 8'Ps (Performance.) is also used.

The marketing mix is a set of marketing tools that the firm uses to pursue its marketing objectives in the target market".

Product: Quality should fit into consumer's needs and want; Product utility should consider Before designing a product and should be what the consumers are expecting to get. For example, Sakshi buys Shoes from the XYZ website by clicking on Facebook Advertisement and quality of the shoes do not match with the shoe shown in the picture, it will lead to Disappointment, Sakshi will return the shoes. This inaccurately advertised item has caused you unnecessary Disappointment and left Sakshi feeling less than impressed. So, no matter what your product or service is, it’s important that it meets the Market demand and satisfies, or exceeds, the expectations of the customer. 

Place: Right segment, Target audience geological The area is most important for a business to survive Product availability at the right place and at a right time is crucial for example, Sakshi manufactures south Indian package food and give supply to Rajasthan where demand is for Rajasthani food Sakshi will fail to choose the right place and target audience for south Indian food.

Price: The Product Price should be Represents Quality and consumer satisfaction, Right Pricing Strategy of the company can lead to success or failure, Price should never be too high or too low it should fit into consumer satisfaction and the company's profit. If the customer feels your price is high you will lose the market, if your price is too low then you will lose all profit and create market downfall. (Price should reflect Quality) Sometimes consumer is ready to pay a little extra if the product or service satisfies the needs and wants.

Promotion: Image of product or services depends on the right promotion strategy Advertisement Public Relation Sales Promotion Personal Selling Online selling Social media promotion are all key communication platforms, tools by which organization can convey the right information at right time to the right audience in the manner they would most like to hear, whether it be informative or appealing to their emotions to attract and gain profits.

Physical Evidence: Physical evidence means a tangible or intangible product or services by which customers can touch, and interact with or feel it, For example, it can be in physical form like receipts, packaging, pdf, etc. or Interior design services, salon services, etc.

People: People means to employees and front sales staff who work for business, including business owners, Customer support executives, everything relay on employees, when a company provides good customer support it automatically leads to a successful company. Invest in good employee training. because right behavior is key to a positive environment.

Process: Process means procedures involved in delivering the product and services to the customer in the best manner at right time to the right person, it includes sales, payments, distribution selection of logistics, and customer relationships.

Performance: Performance is a measure of consumer satisfaction, A company is serving their customer fair enough or not? Are a customer is happy with the product? Are they getting enough ROI? If it not then the company can modify its products or services according to customers' needs and want to stand out in the market.

Fundamentals of marketing. Basics that are universally applied. 

• Research: Market research is a fundamental activity to perform before entering into marketing.
• Setting up Goal: Goal is crucial in marketing without setting up a company's goal one can't stand out. The goal is a Roadmap for the company.
• Building product or service: Product is the fundamental thing, Physical evidence or without product or service there is no business and no marketing 
• Pricing, and packaging; Pricing and Packaging is the most fundamental activity by which consumer satisfaction is achieved, price should be wise and packaging should be attractive to eyes.
• Communication: two-way communication is a fundamental activity in marketing without conveying information and feedback company can not stand out.
• Consumer satisfaction: Fundamental activity every business should consider to stand out in the market.
• Promotion: Brand image is created by good Promotion activity and all success lays on promotion activity.
• Competitor's analysis: Fundamental activity every business performs analysis competitors product and price etc to stand out in market,
• Economic value: fundamental activity of marketing it company added values in the economic condition its create its own unique image and stand out in the crowd.
• Social values: Fundamental activity of marketing should never be ignored social values beliefs religious facts should always consider for success.

Traditional Marketing versus Digital marketing.

Traditional marketing.

Traditional modes of Promotion.Traditional marketing refers to the old methods of Promotion of brand awareness in this method internet browser is not used and this advertisement concept came into existence ever since the concept of Advertisement was Discovered. This method includes the following modes for brand promotion.

• Newspaper
• Flyers.
• Radio's
• Television
• billboard advertisement on highways.
• Magazines.
• Telephone or Text.

Digital marketing ( Modern marketing method).

Digital marketing is a new age marketing method in with internet web-browser is used application websites e-commerce graphics are used to create awareness and brand promotion, it is a global platform to reach wider customer base in a short time. it includes the following: 

• Digital modes of Promotion.Social media sites such as Facebook, Instagram, and Twitter marketing.
• Email marketing
• Paid advertisements marketing.
• Blogs.
• Content marketing
• video marketing.Business networking sites such as LinkedIn, freelance marketing.

Let's look at the difference between Traditional Marketing and Digital marketing.

    Traditional marketing. V/S Digital marketing.

•  Limited Audience is targeted at a time in Traditional marketing but A large number of Audiences is targeted at a time in Digital marketing.
• Traditional marking is Costly not every business can afford it. but Digital marketing is Less costly Affordable to every business.
• In Traditional marketing Interaction among both parties is not easy and time-consuming. but in Digital marketing Interaction among both parties is easy and quick.
•  Traditional marketing is Fixed once created can't be modified according to the situation. but Digital marketing is Flexible Can be modified at any time in any situation.
• Traditional marketing is time-consuming and not effective. but Digital marketing Requires Less time and very effective. 
• Traditional marketing has Fewer scope Newspapers, and Television, etc is only medium but In Digital marketing there is Wide scope of SEO, SMM, Google ads, etc.

CATT Marketing funnel.

CATT stands for Wealth if you want to be wealthy you need to consider the CATT funnel Fundamental strategy for your business to stand out in the market.

Here,

• "n" stands for NICHE: Sucess and failure all depend on niche selection. It is the most important part of any business. If persons fail to select an appropriate niche no matter how much he invests or tries it all goes in vain. Niche selection is an art and science both require Talent. Passion, and Market.
• "c" stands for CONTENT: Good content is the King and Queen of the market, Attract readers Content should be clear, creative, informative, loud, Relevant, and junk-free. Content can be in Video, blogs, pictures, podcasts, articles, etc.
• "a" stands for ATTENTION: If you fail to create attention to your audience no matter what niche and content you are in, you can not stand out. Promotion is the best strategy to get the attention of the customers, SEO, Paid Facebook, and Goggle Advertisements, Email marketing, Refer Influencer is the way by which we can drive traffic and attention to our site.
• "t" stands for TRUST: without trust and goodwill building with an audience one can not stand out, Creating value and trust by Retargeting giving knowledge and Quality of products or services.
• "t" stands for TRANSACTION: By performing all activities niche, content, attention, trust ultimately customer automatically convert into conversion and transaction happened Congratulations, WEALTH is created by CATT.

Integrated Digital Marketing.

Combination of all digital marketing platforms to drive traffic and conversion.

Integrated digital marketing is made up of all digital modes, business use all platforms to promote and create Brand awareness about product and services, It is the most important and widely used marketing strategy to stand out in the market, Business can not be successful in this modern world without this and in COVID19, the pandemic time every business should use Integrated Digital marketing.

Content Marketing: king/queen of the marketing system Content should always be Relevant clear and informative to the targeted audience. This is only by you attract or lose a potential customer. use the Right keywords, be on top SEO.

Social Media: Set up social media presence like Goggle my business, Facebook, Instagram so that potential audience can be aware of your business Be active and consistent on social media to drive traffic and conversions. 

SEO: Search engine optimization is the best way to came on top into Google search use correct keywords and be on top by keyword Research

Paid Advertisements: Content is ready Social media presence is set up Right keyword planning is done now you can run paid advertisements like Google AdWords, Facebook Advertisements, to convert your audience into a final consumer.

Sell and convert: By following integrated digital marketing we can sell and convert the audience into the consumer by the right strategy it requires both art and science creativity of the person and technology.

Email marketing: Email marketing is a fastest, flexible and cost-effective way to reach the target audience and retargeting existing customer by encouraging to shop or visit again, by email marketing Brand awareness, Discount offers much-personalized information can be shared.

Personal Branding.

What is personal branding is now? Let's understand what is Personal branding 

Personal branding is a love passion with yourself, An individual who exists separately from a company by finding Uniqueness, building reputation things the person is good and passionate about and wanted to be known. Personal branding can be made by only finding uniqueness and innovation about product or service Blend with the personal image.

Here is a Mass blueprint to build personal branding.

LEARN: Learn a new skill which you are passionate about and have talent in that master it through experimentation, facts, theories, and procedures, without learning and developing passionate skills one can not become a personal brand.

WORK: Continues work on a skill that you choose to have for personal interest, initially, you can do the job in that field or freelance projects master it through experiments and knowledge then create your own work appraisals. 

BLOG: Write and write more about skills, and give people knowledge about skill it will create your a personal brand through Blogging

CONSULT: By following the above points now you are ready to become a consultant to help others to grow.

MENTOR: Now a person has become a master in a particular niche and acquired enough expertise and knowledge, a person can mentor and teach others related to interest it will expand your knowledge. 

START-UP: Now, Ready to launch your product or services.

Conclusion of this article, 

Marketing is not single activity to perform it requires a hierarchy of activities to stand out in the crowded market, it is an art and science both.

Disclaimer, Marketing is much wider than written in this article and is a never-ending process. It keeps going and changing according to the needs and wants of the audience.

Thanks for Reading.

Regards,

Sakshi Khatri.