Competition Marketing - what is it? What are the most important and most profitable types of marketing?
If it is not clear to you what exactly marketing is, what
activities it covers and what types of marketing are - read this article.
Marketing is a broad concept. It involves a multitude of
different activities, strategies, and tactics, and its main task is to promote
products and services in such a way that as many customers as possible purchase
as a result.
In this article you will learn:
What is marketing? (Definition of marketing)
Why is the definition of marketing changing?
How marketing is defined?
What are the types of marketing? (What are the most important and most
profitable types of marketing?)
1. Definition of marketing
Marketing is activities that are undertaken to promote
products and services. The goal of marketing is to meet the needs of the
company's customers and at the same time make a profit.
This is a completely basic definition of marketing. First of
all, because there are many types of marketing - as many as there are ways to
gain customers and sell products.
Marketing activities start at the stage of market research
and end with pricing and communication with potential customers. Some marketing
measures are not only used to promote services and products but also to
increase the sale of those that have already become popular.
Why is the definition of marketing changing?
As researchers note, the former understanding of marketing
focused on the product, subsequent theories put the customer in the center of
interest (as a passive recipient), and today marketing bases its philosophy on
the specificity of consumer behavior, recognizing that marketing activities
should be related to human aspirations and values.
Marketing changes with the times we live in. Technologies
have a huge impact on our everyday decisions (including purchasing decisions).
Experts emphasize that the global Internet network has become an excellent
channel for enterprises in the field of self-promotion, marketing, and public
relations.
That doesn't mean the foundations of the discipline of
marketing are changing. Let's go back to the beginning for a moment.
Marketing 4P
Marketing 4P is a set of marketing tools that a company uses
to achieve its business goals. The abbreviation 4P means:
1- Product _
2- Price ( P
rice)
3- Place /
channel of distribution ( P lace)
4- P romotion
This mix means that any promotion or advertising can take
place at all. The author of the 4P marketing concept was Neil Hopper Borden,
who worked as an advertising professor at Harvard Graduate, and promoted the
ideas of mixed marketing in the 1950s.
2. Types of marketing
Traditional marketing refers to the promotion of a brand in
offline channels that existed before the emergence of the internet. It is about
billboards, leaflets, as well as radio and TV spots. When access to information
was not as universal and democratic as it is today, marketing used the
available media to reach potential customers.
Today is completely different. There are many different
types of marketing, including:
Content marketing - a form of marketing focused on creating,
publishing, and distributing content to target online audiences.
Digital marketing (also known as online marketing) - brand
promotion to connect with potential customers via the Internet and other forms
of digital communication. As marketing channels, it uses not only e-mail,
social media, and online advertising, but also text and multimedia messages.
Affiliate marketing
- it's about earning money by promoting/recommending some products or services (e.g. Instagrammers, YouTubers).
Whisper marketing
- creating online opinions on products by,
for example, giving recommendations on forums.
Network Marketing
- a business model that consists in
selling products on a person-to-person basis. The salespeople are not
employed by the company but form a network of independent sellers, remunerated
on a commission basis. Examples of network marketing include the activities of
Avon or Oriflame.
Social media marketing
- acquiring customers and generating
internet traffic through social media.
Influencer marketing
- is closely related to social media
marketing. It's a type of social media marketing that uses recommendations and
mentions of products from influencers.
Direct marketing
- a form of direct communication with the client, e.g. sending leaflets and brochures, mailing, or visiting the house of a potential recipient of services/products.
Performance marketing
- a form of advertising in which the
buyer pays only when measurable results are achieved.
Inbound Marketing
- an online operating strategy that
involves attracting customers by creating valuable content tailored to their
needs and interests.
Trade marketing
- aims to increase demand at the wholesaler,
retailer or distributor level, not at the consumer level.
E-mail marketing
- one of the forms of direct marketing in
which e-mail is used to communicate with customers.
Guerrilla marketing
This
strategy uses unconventional and cheap marketing gimmicks that can be
controversial and draw the attention of consumers. Guerrilla marketing is used
by both big brands and local brands, as well as NGOs and activists.
Online Marketing
- is the practice of using Internet
channels to disseminate information about a company's brand, products, or
services in order to reach potential customers.
Real-time marketing
- consists in reacting to current events
that are popular and popular, for example, by the Internet community or the
public.
Each company planning to promote its products and services
can choose one or several strategies. There is really no right or wrong way to
conduct marketing, as long as you reach the right customers and achieve the
planned profits.
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