All You Need to Know About Marketing
Are you a beginner in marketing? probably Yes… we all are freshers to marketing until we do not deep dive into it.
To master Marketing one shall know what exactly the marketing is?? Some people will say — “what question I am asking, it is so simple selling the product to the customer” But here we start lacking for the knowledge of Marketing…
What is Marketing ?
To know Marketing, one shall know marketing is not the creativity it is the science.
What’s the correlation between Science & Marketing ???? — Confused?
Yes, Marketing is not related to science, in fact, it’s a science, I will tell you why? with some examples of the Law of Marketing–
- Marketing does not start after the product is ready… It starts before the creation of the product. It starts with understanding the Customers & Customer’ needs & wants that leads to creating a product that fits in all the requirements.
- Also, Marketing is the process of sending the right message to the right people at the right time which requires the skills that will help to make your business success
- Marketing Requires strong after-sales services, As only selling the product & not making the customer happy after feedback will lead to an unhappy customer. so making the customer happy is an integral part of marketing.
So Marketing is a science because marketing is a game of creating a perception in the mind of the customer.
“Brand is just a perception, and perception will match reality over time.” — Elon Musk
4. Great products always have the ability to converts your customer into brand ambassadors by the word of mouth. Word of mouth is the best marketing channel ever.
For Example —
· IIM Ahemdabad: They have gained popularity through word of mouth that the Institue becomes no. 1 Management studies institute in India
· The second and simple example will be of Colgate — They have done branding in such a that in a rural area as well people do buy Colgate & the rural people identify it by the color Packaging of Colgate ( Packaging of Colgate)
I guess we have talked enough about the basics of Marketings… & I am continuously using the term Brand.. so how to build the brand?
To Build a brand it is necessary to select a brand category and become a leader in that category
If you can not be the leader in that category select a sub-category or niche of it.
So what is a brand niche selection?
Brand niche selection is selecting a specific category for which you want to master it. Whether it can be Health, Digital Marketing for Games, Finance, or any other sector.
The major sectors like Fitness, Marketing, etc. do have lots of competition nowadays to avoid competition you can go into the micro-niche or subcategory of the sector
Illustration of Sub-Categories- If you want to grow in the marketing section but you are afraid of the competition & financial loss then you can select a sub-category of it like Digital Marketing. In Digital Marketing as well you can go down with more subcategories like SEO ( Search Engine Optimization), SMM ( Social Media Marketing), SEM ( Search Engine Marketing), Affiliate Marketing & many other options.
You might be wondering why I am forcing you to select the Niche? if their is competiton in the main sector.. Becausee..
“No One Remembers Who Came Second” — By Walter Hagen
People remember only the no. 1 or max 2.
For Example — Nokia launched the first touch screen phone in India. Kalpana Chawala was the first Indian women astronaut.
Let’s focus on another most important aspect of Marketing or any other field- SETTING UP AN GOAL/FINANCIAL GOAL –
Setting up a Goal is necessary for every field as it gives us a target for which we have to work on to achieve it.
The goal is an important factor of business because a brand without a target will struggle with achieving its plans.
Consider a scenario where you want to generate revenue of one cr. Sounds crazy right? It’s simple if you plan it accurately…
I will explain to you by giving a short example –
“Help 100 clients to achieve their desired traffic by charging 100,000 per Clients.”
COMMUNICATION SKILLS — Factor One shall Consider in Marketing
Good Marketing is all about Good communication, Nah Nah…. do not misunderstand here… I am not talking about fluent English.
This is the aura of marketing you can convey about your products with effective thoughts. It means you don’t care about vocabulary or grammar. Just make your thoughts clear.
Although you want to improve your English, the best what you can do is “Think in English”
Global Economics- Everyone shall learn the Basics
In many ways, marketing can be thought of as a sub-discipline of economics. The economy has a direct impact on the way marketers push their products to consumers. Understanding the link between the economy and marketing can help business owners allocate their marketing resources and respond to changes in the economic climate.
Demand & Supply Strategy is one of them — As you, all know when demand rises supply falls in the market. It helps the marketer to create inflation resulted in rising in the price of the product.
A few key facts about the world economy.
>> When the Country’s economy goes up the average age of the country goes up.
>> Debt creates money — If you take a loan of 15 lakhs & deposit in another bank then they can loan that money again. More debt in the economy = more cash ( inflation)
>> During the recession only strong and trusted companies will survive. The weak ones will be out of the market.
So here we focused on some important factors of marketing. Now let’s focus on some subcategories of marketing —
Digital Marketing — Is it the future of Marketing?????
Let’s find out…..
Undoubtedly, Digital marketing is a platform that is a new booming platform. With civilization, mobile users are increased as compared to desktop users. In fact, according to Wikipedia, One billion five hundred among the total population of India are using mobile phones which is leading to the boom in the digital marketing sector.
But yes due to this Traditional Marketing Won’t DIE
Traditional marketing is still a need for an hour. As 65% of India still came under the Rural Sector where people do watch TV & listen to the radio. They identify the products by their packaging.
Also with TV ads, whatever reach we get it is not possible on the digital platforms. Hence big brands like Mercedes, Apple more spend on TV ads as compared to Digital Platforms.
But everything as pro’s & con’s, I explained the Pros but the Cons are you cannot personalize the communication in traditional marketing & You cannot do remarketing.
So it’s very difficult to say traditional marketing will die & digital marketing will be the future of marketing
Now, let’s move on to strategy/process for marketing-
CATT Funnel — Marketing Process
Every marketing process to be run in the systematically it shall have some strategy behind it. I follow the CATT model.
CATT stands for Content, Attention, Trust, and Transaction
Here I will explain to you the formula for wealth creation —
Wealth = n^CATT
Here, N stands for Niche– Your success & wealth depends on the niche you choose
C stands for Content — Create useful content that attracts people from your niche. Content can be in any form like the blog, video, post, live webinars, etc.
T stands for Trust & Transaction-Build your trust with your audience by using new techniques & Convert leads into natural sales in the Transaction method.
Till this, we have talked about the basics of marketing, creating branding, comparisons in traditional vs digital marketing, so on.
Now here we will learn something which is unique, an integration of marketing
Integrated Marketing is an approach to creating a unified and seamless experience for consumers to interact with the brand/enterprise
As shown in the above Image, Content marketing is integrated with all the areas of digital marketing.
a.If your content is good you can use the content on the website for the SEO & in your Blogs which will help you increase in ranking in Google SERPs. This will help in generating organic revenue through the Search medium.
b. If your content is well written you can share it on social media platforms that will help you generate organic revenue through the Social medium.
c. If Your content is good you can use that content for email writing & get revenue through email marketing.
d. If the content is good then we can run the paid ads on the website or SERP & Convert the leads into sales.
Thus here content writing is the main source of revenue & integrated with all parts of digital marketing.
Here we come to the last part of Marketing which off course Self Branding
Personal Branding –
a. Best know always beats the best… It means if you want to get into the industry but your competition is with Amitabh Bachchan or Deepika Padukone definitely they will capture the markets.. & you will land up with a flop actor or actress.
b. The problem is nowadays people want to hear from the people not from the brand person as they know the brand will definitely promote their product but people will give true feedback about the products.
C. So if you want to do personal branding then word of mouth is the best tool to do branding of yourself.
d. Everything has two coins likewise personal branding to has upside & downside. The downside is in personal branding you will not get any investor & it cannot be sold as well. The upside is through personal branding you can become an influencer and give rise to many brands by becoming their brand ambassador.
Let’s focus on the Evolution of Personal Branding –
- Learn- Learn a new skill through Concepts, Facts, and Procedures. Understand the concept, Remember the Facts & Practice the procedure.
- Work- It’s time to make your theoretical learning into the practical world. Whatever you learn you have to implement that skills in the work either in job/freelancing or anything.
- Blog- Start writing your own blog. The blog is a medium to express your learning also when you write it helps to learn more. Also, it will help create your personal branding.
- Consult- Once you have your personal blog & after learning & working you can start consulting to the business & earn money from it.
- Mentor- Teaching is the best source of learning. When you mentor someone who wants to achieve your level you will automatically grow in your career as for mentoring we keep ourselves updated to teach someone else.
- Startup- Once you have achieved all this level, you will gain lots of knowledge and experience to start with your own product & services to excel in your career.
Now we have come to the end part of the blog……
Here we got to know some basic ideas of marketing with all its type & strategy. Also, we learned about branding, how to create branding & Traditional v/s Digital marketing. We have gained basic knowledge of how economics is important in marketing with some interesting facts about it.
I hope that this guide for All you need to know about marketing will help you. Good luck!
This article is one of the several assignments in the Digital Deepak Internship Program. The DigitalDeepak Internship Programme by DigitalDeepak is a one-of-its-kind internship program aimed at creating future digital marketing leaders. This is a paid internship program, where weekly assignments are given to the students through live video sessions weekly. The submissions are rewarded monetarily and top performers are awarded special monetary bonuses on top of the submission rewards.