Marketing Fundamentals , Strategies & Techniques :
- What is Marketing and why it is needed and important for every business?
- This Article gives you different ways of marketing in offline and digital mode.
- For Entrepreneurs/Students should learn Marketing techniques which helps all Industries across globe.
Top Marketing Techniques Could Help You Succeed your Business
Fundamentals and Principles of Marketing :
- Research is Key for any Marketing
- Communication should be improved in natural way.
- Creativity is also plays an Important role in marketing the product.
- Evaluation the right product , Audience, Location are key.
- Revision
- Delivery
Communication Strategies :
Do you know different communication strategies?
The Important modes of communication in marketing include advertising, digital marketing Techniques, direct marketing, personal selling or Direct Selling, public relations and sales promotion using different channels.
Global Economics and Marketing :
Global marketing is essential for today’s businesses. All businesses can sell and ship their products and services to consumers across the globe in short span of time. This global sales is directly proportional to Economics of the country. This way we understand the Economics and invest in Product Building . Since India has more younger Population and grow next 10 years on different sectors and products this way economy of the country drastically increases.
Economy depends on GDP which is key for any country. It is directly proportional to your countries growth. based on the GDP data countries Rupee Value, Inflation ,Interests Rates from banks and Central banks also related.
Digital vs Traditional Marketing :
Traditional marketing involves traditional channels, like Hoardings and printed media like magazines and newspapers, digital marketing uses digital media, such as social media or websites. Traditional marketing doesn’t allow direct interaction with customers, whereas digital marketing offers a higher level of engagement and interaction. Your brand can also easily build better and long-lasting relationships with customers by interacting with them via video, surveys or webinars
Direct Response Marketing :
The below are different types of direct marketing
- Can be tracked on daily basis or weekly and quarterly
- Can be measured immediately the number of sales and revenue
- This is targeted only for specific customers who comes to office or shops
- Offer customers on the products
- Clearly explains the benefits and savings
- This way it generates immediate sales based on the interaction you have with customer
- it gives more personal feeling to customer as well to seller.
CATT Marketing Funnel (Content Attention Trust Transaction)
The formula of the CATT marketing funnel is: Wealth = n^CATT. where, n = niche, C = Content, A = Attention, T = Trust, T = Transaction.
Niche = Your Success and Wealth depends on the niche you choose
The most important things that you should know even before creating the products are to identity customers needs or issues to solve. Every one needs to create the product based on customer interests and needs . Basically you are marketing the product before actually the product is built.
Integrated Digital Marketing:
Integrated digital marketing is a process of reaching customers and prospects with your company or brand that combines all parts of marketing communications or channels to assist the customer.
10 Steps of Marketing Process :
- Set goals and objectives : Before you create a marketing plan, you must have a purpose for it and refine it accordingly to the customer needs.
- Stay current situation and trends.
- Measure up for quality products and services.
- Analyze your situation to the current scenario.
- Map your messages based on the customer needs.
- Live out your mission to reach success.
- Outline your techniques and strategies
- Target and fix to your timeline
- Plan for a proper Budget.
- Divide and conquer and collaborate
- Stay Current trends and situation.
Personal Branding
Things to do and Remember:
- Figure out who you are.
- Determine what you want to be known for.
- Define your audience and community
- Research your desired industry and follow the experts.
- Ask for informational interviews.
- networking with various people
- Ask for recommendations about your skills and good things
- Grow your online presence in social platforms
- Remember that your personal brand isn’t just online.
Law of Marketing:
Marketing is based on science and starts before creating product. it understands the customer needs and then create the product that’s how sell products. In the Process of marketing understand the users needs.
Marketing is not selling, and we should keep existing customer happy and should be everlasting customer and have masstrust. Invest time and Energy in Learning Marketing.
Marketing should be owned by entrepreneurs and should not outsourced completely. Everyone wants to hear from People not from Brands.
Personal Experience :
Marketing is an art and it should be done in a right way else you end up having more marketing spends than results. Always you should measure your marketing budget with sales and revenue periodically.
You have to allocate different Budget when Building Product or Marketing your Product . You should have separate Product Cost for Building or Manufacturing , Maintenance Cost , Quality or Testing Cost and Marketing Cost. Many people create great products but they end up in failures because of not doing right Marketing for target Audience and also right Marketing spends in the right time . Many other companies penetrate through aggressive marketing spends and capture market
Example in recent years Ed-tech : Whitehat JR and Byjus successful because of their marketing spends though they are many great products they were able to do great marketing.
To Summarize we have discussed more on the fundamentals of marketing , digital vs traditional marketing, global economics, why personal branding is important, direct marketing , Integrated marketing , Law of marketing and different marketing strategies and techniques which every business should be doing right now.
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