How Marketing in Present Time Changed How We Think About Business

Basics of Marketing Every Marketer Should Know

Nowadays lots of businesses are using Digital marketing either in silos or combing different marketing mixes. For a new-age startup, digital marketing is the only marketing strategy either they know or relay on to expand the business and if it’s not based on core fundamentals of the marketing then chances of failure are high.

The current state of marketing followed by traditional marketing vs modern marketing based on core fundamentals

Marketing is still considered complex. It has different domains, strategies, and plans. But new-age businesses lack solid fundamentals of marketing and we know that success starts with solid fundamentals.

Did you know why the best brands like Tesla, Uber, Amazon, Apple, or Airbnb are successful? They do not think of consumers in a typical functional or logical way. They are building their marking strategies based on Marketing Fundamentals by capturing the imagination of the customers and along the way provide them a delightful journey of experiences that connect the customers emotionally and have a long-lasting relationship.

What is Marketing: Simple definition of marketing is its a plan to make customers take action turning into your business profit. It contains various strategies and plans businesses use to position their products and services in the market and enable target customers to make a buy.

Understanding the 4P’s of Marketing: Every Marketing strategy is based on four things: Product, Price, Promotion, and Place. Strategy and channels change, but everything else is based on these four things.

Product: This is what a company sells, whether that means a physical good, or service (such as consulting, a subscription, or something else).

Price: This is just “how much stuff costs,” right? Well, sure. But there’s more to it than that. If marketing is all about driving profitable action, then prices need to be set at a level the market will support

Promotion: If a product launches but no one cares, does it even exist? Well, yeah, technically it does, but it’s just taking up space if no one’s buying it. Once a product is out there, it needs to be promoted so people know it exists.

Place: The right product needs to be in the right place for people to find it and buy it. Where is the product distributed? Online? Offline?

How to Develop a Marketing Strategy based on Core Marketing Principle Every marketing strategy focus to answer below

Niche selection is a very important activity when you want to start your business, deciding the product customers’ wants or if you are starting your blog as a content writer

“Identify your talent by combining it with your passion and check its profitability”

As a Marketer you want customers to take action and this is where Marketing Funnels is used. Marketing Funnels help envision where customers are in the buying process. They might be looking at product brochures, reading your product blogs, or researching similar products.

Whats CATT: CATT is a marketing funnel where Wealth = n ^ CATT.

[n] Niche Profitability of your business depends on the Niche you choose (Either Product/Services)

[C] Content Creating content that will enable customers to take appropriate action as per your marketing strategy. Contents are in the form of Product information brochures, Website pages, Blogs, etc.

[A]- Attention This contains planning your digital marketing efforts to attract customers via blogging, social media, and email marketing.

[T]- Trust Building trust via providing solutions, using success stories of existing customer base, using advertising technology’s capability of paid advertisement & marketing automation. The most important part is this is the most personalized activity for the customer done by the Marketer.

[T]- Transaction This is the last step of CATT marketing funnel and completes the customer journey thus having to paid customers.

Search Engine Marketing SEM is a digital marketing strategy. It is the paid marketing strategy that will put you in front of your targeted customers.

Search Engine Optimization It is the process of increasing your visibility of website or content for the customer by having quality content and thus driving the number of visitors to your site.

Email Marketing Email Marketing is used to send a commercial message, typically to a group of people, using email. In its broadest sense, every email sent to a potential or current customer could be considered email marketing. It involves using email to send your product/services advertisements, request business, or solicit sales or donations.

Social Media Marketing You can use Social media marketing to reach prospects and customers. Customers are interacting with the brands on social media channels and this opportunity can be tapped having your content posted on social media.

Content Marketing In this strategy you create the content, distribute it as per the relevancy of the targeted audiences. Your content creation should be consistent which would attract customers to convert them to profits.

Action for the reader: Read More on to plan and execute Integrated Digital Marketing

Once your Marketing Strategy is in place so you need to execute it and put an action plan. But to execute it, you would need certain skills. What are the common skills a marketer needs

These skills will also help you position yourself as authority thus help to gain the trust of the audience and you can be a personal ambassador of the business.

As you know there’s lots of information on Marketing Strategy and I presented you with information on Marketing Strategy based on core principles. I hope you are now prepared to take your business/idea with the help of this education.

Below are some the links for your further reading

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