About Marketing:

About Marketing:

* What is marketing? *

There are many definition of “Marketing”

  1. Marketing is the Management process for identifying, anticipating, and satisfying customer requirements profitably.
  2. The management process through which goods or services move from concept to the customers. It includes co-ordination of four elements called the 4 P’s of marketing.
  • Identification, selection and development of Product
  • Determination of its price
  • Selection of a distribution channel to reach the customer’s place
  • Development and implementation of a promotional strategy

So, overall marketing is the process to reach at the customer’s needs.Marketing is the relationships between Company and Customers.

Company: Create the value for customers and try to find good products and needs as per customer’s needs

Customers: They give their time to and money to get the GOOD services or products from the companies.

There are mainly two types of Marketing:

  1. Outbound Marketing
  2. Inbound Marketing

Outbound Marketing

Outbound Marketing is a strategy in which business advertises its products and services by presenting information to the consumer even if they are not looking for those products and services. Because of this, Outbound Marketing is also known as “interruptive marketing”. Companies do this via use of television, print ads, directs mails, radio, and more. This is how traditional advertising works, but unfortunately, such methods is not only interruptive and poorly timed but they can be quite expensive.

Outbound marketing is intrusive. It demands that prospects pay attention. It uses as variety of methods to get the word out about products or services. Here are some of most popular outlets for outbound marketing.

  1. Print and Direct Mail Marketing:

Practically since the advent of the printing press, there has been advertisers’ schilling their wares. The first magazine was printed in America in the mid -18th century, and they have been filled with ads ever since. Then there’s direct mail. Every time you open your mailbox, it’s full of catalogs, flyers, and other “Junk Mail” that goes directly into the recycling bin. Despite its bad repo, it continues to be popular source of advertising. As a matter of fact, in 2015, marketer spent $46.8 billion on direct mail.

  1. TV & Radio Ads:

When radio becomes popular in the 1920s, advertisers began sponsoring shows. As television came on the scene, the radio shows died out, but the ads stayed put. Turn on the car radio, and you will likely be inundated with ads between songs.  Marketers became aware of the popularity of television and created creative and innovative ads to capture the attention of viewers.

  1. Telemarketing:

You just sat down to dinner, and before you can enjoy your first bite, the phone rings. You answer, and it’s a telemarketer. Since the early 1980s, businesses have been spending billions of dollars to place millions of calls per hour.

  1. Billboards:

Billboards first popped up in North America in the late 19th century, but they didn’t become ubiquitous until the early 20th century. If you have ever passed a two story picture of a burger and pulled off onto the next exit to eat lunch, the billboard has done its job.

Inbound Marketing

Inbound marketing is best described as a method of attracting prospect to your business’s products or services through the creation of related content and incentives, which inspire people to identify them and request more information or make a purchase. Inbound marketing is closely aligned with content marketing, Search Engine Optimisation (SEO) and Social Marketing, because each of these programs focuses on attracting unknown prospects to your business.

Here’s a quick rundown on commonly-used inbound marketing tactics for Inbound Marketing

  1. SEO:

SEO or Search Engine Optimization, helps your page rank higher in internet searches. There are several search engines used by people around the globe- Google alone fields 40,000 searches per second- and it’s important that your website is ranked high on the list of responses to certain keywords or key phrases.

  1. Content Marketing:

More and more businesses are incorporating blogs into their websites, and you can thank content marketing for that. Content marketing gives business the opportunity to inform and educate their consumers without being to “in-your-face” about it. They offer the information, and consumers can find it when they are ready for it. With that in mind, it’s important to have content that’s relevant to all stages of the buyer’s journey on your website. That way, you can meet your customers where they are.

  1. Social Media:

If you don’t have an account on at least one social media platform, you are missing out a golden opportunity to connect with your audience. You can interact with actual customers, developing a relationship over Twitter or Facebook that will earn you their loyalty over time. Additionally, you can score major points by directly addressing customers who have problems with your service or product.

  1. E-mail Workflow:

No, we don’t mean spam. We are talking about carefully crafted mails that are spent at particular trigger points throughout the buyer’s journey towards becoming a customer. These emails offer valuable information and useful content that a customer can use. The right email at the right time can pull a lead further down your marketing funnel and closer to being a paying customer.

Difference between Inbound & Outbound Marketing:

Inbound Marketing Outbound Marketing
Pulls in interested readers Pushes at everybody, regardless of interest
Written for the consumer’s needs Written for the product’s needs
Interactive and fluid Inert, one-way
Draws in customers Seeks out customers
Is part of content consumption Disrupts content consumption
Natural habitat: blogs, social media, opt-in emails, search, influencer marketing Natural habitats: display ads, billboards, telemarketer, scripts, magazines, TV ads