Tradigital Marketing

TRADIGITAL MARKETING

Submitted by:

Rahul Singh

Shubhankar Som Shivi Shrivastava Sathya Saurabh Sharma Saurabh Tirpude

WHAT IS MARKETING?

Marketing is the process of planning, designing, pricing and distributing ideas, goods and services in order to satisfy customer needs and generate revenue and make profit.

To quote the American Marketing Association's definition, it is "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders"

Diluting all the verbosity, it melts down to one simple word “SELLING”!!

This is the prime purpose behind any kind of marketing. The "selling" is accelerated with the help of properly chalked out plans called marketing strategies.

With "selling" as the ultimate goal, marketing strategies are influenced by two basic factors:

1) Acquisition of customers;

2) Retention of the acquired customers.

So every other strategy that is laid out will focus on the above two. A Company has to work closely towards achieving these two to attain the desired cutting edge over its competitors. There are also a few other objectives like creating awareness (informational and educational) about the product, brand-building and accelerating sales.

CONCEPT OF TRADITIONAL MARKETING:

With the world changing at every nanosecond, marketing is also reeling under a whirlwind of change. New modes of marketing like e-marketing and online marketing have evolved. Yet traditional marketing still holds sway with many corporates. Traditional marketing operates based on the 4P strategy.

ELEMENTS OF TRADITIONAL MARKETING:

The Four Ps- Worship them:

The 'Four Ps' or the 'marketing mix' is a cliché with every marketer. Formulated by Jerome McCarthy, the 'Four Ps' refers to the four factors that a marketer has to consider before launching a...