According to the American Marketing Association, Marketing is defined as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”.

The 'marketing concept' proposes that in order to satisfy the organizational objectives, an organization should anticipate the needs and wants of potential consumers and satisfy them more effectively than its competitors.

Back in the days many believed that marketing job is solely for those who spent years to study marketing as a course.

Well, just like in the above statement, that belief is old school and if you still possess the same belief in this era of technology, sorry you are outdated and you need to be updated.

Nowadays, many people who find themselves in the marketing space don’t actually study marketing as a course but because they believe life is dependent on marketing.

You ask in your mind how life is dependent on marketing.
Well, let me break it down for you.

Why does a person want to start a business?  Basically to live a good life by creating an income source

How will the business generate income?  Basically through sales (lot of sales)

So how will the business acquire ‘lot of sales’?  Basically by making the public aware of its products or services and this is what’s called MARKETING

Now, without a good marketing strategy to be adopted by the business owner, there won’t be any good life to live.

Marketing revolves around 4Ps which are PRODUCT, PRICE, PLACE and PROMOTION.

Image from Marketingmix.co.uk

Back in the days, companies budgets few hundred thousand dollars for marketing using the so called old school techniques like; Direct mail, Promotional products, Flyer handout, Slogan/Jingle, Promotional Event.

Image from cubimo.com

These days, many multinational companies and SMEs (Small or Medium-sized Enterprise) adopt technological marketing strategy which is basically Digital Marketing. These involve;
Social Media Marketing,
E-mail Marketing, 
Search engine optimization (SEO), 
Search engine marketing (SEM), 
Content marketing, 
Influencer marketing, 
Content automation, 
Campaign marketing, 
Data-driven marketing,
E-commerce marketing, 
Display advertising, e–books, and optical disks 
and finally games are becoming more common in our advancing technology.

In fact, digital marketing now extends to non-Internet channels that provide digital media, such as mobile phones (SMS and MMS), callback, and on-hold mobile ring tones.

Hence, it has been noticed by experts that some old school method of marketing such as mailing, jingles/Slogan are still proving to be much effective because they are been done in a way more technological. Also, the use of signage, banners and posters are also still effective.

Therefore, for every business minded individual who owns a business or is planning to own and run a business in the near future, it is advised to seriously determine the marketing strategies to be employed.
It is the backbone of any business to survive.

With that being said, marketing doesn’t have to do with business only. So for those who think they don’t want to be a business owner but rather an employee, you still need to have a substantial knowledge in marketing.

Why? Because gone are the days when all you have to do is work, work and work and expect to be paid salary. These days, employers expect their employees to bring in customers so as to redeem some amount of commission.

Also to every individual out there who are unemployed, those who are employees but aren’t satisfied with the amount they get at month end (shikini salary), now is the best time to start learning the various trendy and effective marketing strategies. Why?

Because technology is advancing and this is causing a drastic effect on human employment and companies now lay off employees based on this.

So you may want to go into small scale business of buying and selling but you would need to market your product to the right audience. Hence the need for learning marketing strategies

By now, I am sure that you have an insight why you should be interested in marketing.

My next post will be on the most effective marketing strategies employed by high performing companies and individual business people.


Related Posts Plugin for WordPress, Blogger...