Hi Guys ,
You must be having many queries poping up in your mind regarding Marketing & Marketing Fundamentals, Like – What is marketing ? why marketing is required ? what are the fundamentals of marketing ? How marketing help in establishing a brand ? What is the economics behind Customers , Products , branding.& marketing. . This article is meant for all marketers, bloggers, freelancers, content writers ,trainers & an enterpreneuers .
So today I will tell you the variuos aspects of Marketing Fundamentals . Although marketing has not changed as compared to the earlier times till today as it is deep rooted at the human psychology and markets . Only the tools of marketing has changed or added from time to time depending on Product ,people & place . For example in earlier times marketing was done directly to customer and then from word of mouth. Then comes through news paper , pamphlets, hoardings , radio ads , Tv ads, now apart from this depending on economics Social plateforms , facebook ads, emails, webnair , SEO & podcast and so on. Now lets go deep into this . Marketing refers to activities a person or company uses to promote the buying or selling of products or services . Marketing includes Ads , selling, delivering products to the consumers or companies . In 2017, The New York Times described it as ‘The art of telling stories so enthralling that people lose track of their wallets.’ Marketers makes use of marketing mix also known as five P’s – Product , Price , Place, People & promotion to strategise marketing.
Law of marketing is based on science . It is the right message to the right customer at the right time The purpose of marketing is to build a Brand which not only capture a good market share in that segment but also win the trust of his customers by continuously communicating with them by providing latest information and benefits through ads or promotional strategies .
Communication plays an important role as marketing is all about communication . when you are communicating loud & clear only then the customer will understand why he need to purchase the product or service . So communication should be clear, specific and understandable . One can master communication by reading ,listening & speaking regularly .
Niche Selection – Marketing starts well before the selection of product. One select a niche – Niche is a segment where one want to focus on the need of customers and to cater that need one introduce a product or a service which will take care of their needs that ‘s how niche is selected . Niche can be in any segment which one find has a large base i.e catering a large population or masses , or can be a specialised segment , continuously growing segment. Niche can be in any segment where one can explore his passion , talent and marketing skills to grow .
Growth of products or services depend on the economic daynamics Globally or nationally . Products growth depend on –
– Economy of city, state or nationally.
- Per capita income – more the income , probability of spending will be more
- Age of population – when the average age of population is young then expenditiure power goes up
- Class of product -quality products i.e brands creates liquidty more as compared to generics because of customers trust .
There are other factors also naming few above .
Once you select a niche then you bring s products accordingly.and then you require to do marketing of products acoordingly .
Now here one need to know the Fundamentals of Marketing. Once your fundamentals are strong only then you can apply your experience in marketing , sales and branding .Now i will tell you Fundamentals of marketing step by step .
Firstly i will tell you about
* Digital Marketing Vs Traditional Marketing
Digital marketing is different from traditional marketing as we are targeting to reach the English speaking population with high end spending power to purchase . who have internet , mobile& laptop and can be targeted via digital medium . where lead generation done through content marketing ,emails , paid ads ( facebook ads, google ads ), social media ,blogs, SEO’s etc. It has around 100 million users .
While traditional marketing cater more of generic products where one can reach to masses with low cost like TV ads , Radio ads , Newspaper ads , Pamphlets and hoarding etc. Through Tv ads one can reach to masses i.e around 1 billion users .
Therefore digital marketing is the best medium to reach to affluent English speaking population .who also has high expenditure power than masses. Digital marketing frame work is as follows–
- The CATT Marketing Funnel
The framework of wealth = n^ CATT
Here ‘n’ is Niche which is going to fill the needs of customers with products they are looking for while CATT is comprises of
C – it depicts Content . In this we create a useful content that attract the people of that niche through Blogs, Vedioes, lead magnets , live webinars etc . to this funnel.
A – It depicts Attention . Drive the attention of your audience to the content using SEO , Social media, referral & paid ads . lead to reach out to the content.
T – it depicts Trust . After we have drive attention of our audience to the content. Now here we will start Trust building measure with audience through trip wire , marketing automation & retargeting communication through Emails, Whats app .
T – – It depicts Transaction – Now here come most important part of sales i.e sales closing we convert our leads into customers with natural sales method by transaction and the circle is completed and this will go on.
- Integrated digital marketing
Integrated digital marketing is the framework of CATT. It means implementation of CATT can only be done through integrated digital marketing . In this we engage our customers through an interactive content & then channelize the same interactive content on all the digital media or plateforms available simultaneously i.e
– Paid ads
– SEO ( Search Engine Optimization)
–Social media ( Facebook, Twitter,Instagram, & linkedin etc.)
Only then all channels together compliment each other & circulate the same message which will help in answering the questions of customers and end result into sale & conversions.
Another benfit of Integrated digital marketing it helps in Brand Building also.
- Personal Branding:
Personal branding is important as it gives identification e.g Jef Bezos, Google ,Nike, Macdonald, MDH ,Tata, Reliance and so on.
Best known will always be at the best . Brands become when it has word of mouth from people to people . Personal branding is the practice of finding your mission and sending messages to the world to achieve a specific outcome We tend to think about brands as companies or products – think McDonald’s or Apple iPhones. However, anyone can be a brand. People who start new podcast have personal brands. Influencers who speak at conferences have brands. Influential bloggers and people to contribute to industry publications – all personal brands.
It is very similar to finding your meaning of life with a tool like the Japanese Ikigai
Mass Trust Blueprint
Mass trust blueprint can be acheieved through Learnig about the niche & product continuously i.e acquring knowledge and then work on that and put the interactve content through blog . Then consult with the customers and mentoring through live webinars or vedioes on social media to win the trust and then all this took the shape and convert all this to launch a statrup and cycle continue.
To conclude the whole article Marketing & marketing Fundamentals plays an important role in Launching a startup. Right from Marketing skills to selcecting a niche ,funndamentals of marketing like Economics of marketing , Digital marketing , The CATT Marketing funnel, Integrated Marketing , Personal branding and Mass Trust Blueprint . I had tried to give a deep insight about the Marketing fundamentals.
Let s learn together the skills through contnueous training and use our expeience to excel competence so that we have the ability to grow.
Do comment below about this article & let me know to add more to this . Pls do like and share if found useful.
( This article is a part of Digital Deepak Internship programme assignment )