Marketing refers to various activities that a business undertakes in order to promote either the sale or purchasing of a particular product or service. In recent times, The New York Times has described it as “a discipline of selling ideas or products so compelling that individuals forget all but immediate need”. This article looks at how a business can utilize marketing to its utmost advantage. Marketing has become an integral part of any business, and it is important to get an effective marketing strategy in place before you start a business.
There are several approaches that marketers employ. But the one that is fast gaining popularity is social media marketing. For instance, there are many online marketers who use Twitter to tweet about their latest finds or upgrades in products and services. This allows prospective customers to have a look at what’s new and to stay updated about your brand and products. Social media provides a platform that allows people to interact with one another. Thus, marketers get an opportunity to interact with the target market, which ultimately leads to increased sales.
Marketers also use other forms of online marketing such as SEO, video marketing, blog marketing, press release marketing, email marketing etc. Each of these techniques is referred to as a marketing mix. Marketing on the web requires a unique approach. That is, while some businesses use traditional methods of advertising, others opt for a more sociable, interactive approach such as social media.
When it comes to the choice between traditional advertising and online marketing, the choice is clear. Traditional advertising involves mass print and television advertising, whereas marketing on the web is largely dependent on social media and blogging. While traditional advertising is all about creating a brand image, marketing on the web is more about creating an image for your product or service which can easily be replicated on other sites. However, in order to ensure success in this type of marketing, marketers need to follow four Ps.
The first four Ps. are the great lover, the technician, the friend and the consultant. Marketing is all about meeting the customer needs and expectations. In order to do this, the marketer must have a great knowledge of his/her product/service, must be able to understand the customer’s concerns and priorities and then must be able to effectively address those needs and priorities. This calls for the marketer to have an in-depth knowledge of the product/service, its uses and the marketability. It also means that the marketer must be a great lover of the customer.
Every business owner/marketer should remember that customers come in different shapes and sizes. Hence, each customer needs to be addressed in a different manner. A marketer should therefore employ various marketing concepts to address each customer’s unique requirements. A marketer should therefore be a friend, a technician, a consultant and a social media guru!