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Marketing Fundamentals

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

Email marketing

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.

Conclusion

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 )