An In-Depth Look At The Fundamentals of Marketing

But, wait a minute!!

Why even bother to learn about marketing?

To answer this question, we need to take a step back and look into history. When did marketing come into existence? Marketing started in the days of barter system(when instead of using currency the goods and services were directly exchanged), probably the day a person first thought to exchange his goods with someone else’s, may be after a little bargain. Since then marketing has grown and evolved with time, making it an ageless skill to learn and reap its benefits for lifetime.

  • The fundamentals of marketing
  • Digital marketing vs. Traditional marketing.
  • CATT Marketing Funnel
  • Integrated Digital Marketing
  • Personal Branding: MassTrust Blueprint

Simply put, marketing is the process of understanding, creating and selling a solution to a problem that already exists in the market.

Now, lets dive a bit into the fundamentals of marketing —

“ Real marketing begins after you sell your products by making sure that they remain delighted customers for life. ”

Marketing is also a game of perceptions. A product is rooted in reality. It is a means to an end by creating a brand and occupying the “mind space” of the consumers. It is the art of understanding the needs of customers so well that the resultant product fits his need completely and sells itself thus becoming a great product. A great product transforms its customers into brand ambassadors thus leading to extensive marketing by word of mouth(the best channel of marketing indeed).

“ Recession creates strong companies and drives out the weak ones out of the market. ”

Now, lets take a look at the three main components of marketing — advertising, copywriting and sales. Advertising is the process of sending messages paid for by those who send them and are intended to influence the readers in a certain way. Copywriting is the process of writing text for advertising. And sales is the act of selling the product to the target customers.

Traditional Marketing

Traditional marketing is done through the most popular mediums like television, radio and newspaper. If a product is generic with a very wide target customer segment, then TV Ads can reach millions of target customers at a very low cost(e.g. — Apple Iphone). In India, TV covers 197 million homes, radio covers 65 percent of the total population and newspapers cover 465 million people.

Downside of Traditional Marketing —

Traditional marketing does not work for products which is not generic and becomes highly expensive if the target customers segment is narrow. Also, traditional marketing does not allow any scope for personalisation of marketing to serve customers better.

Digital Marketing

In India, digital marketing covers about 100 million people who have access to the Internet and use it regularly. This segment is also the English speaking affluent section of the Indian society. Digital marketing is the future of marketing and allows marketing to become more personalised, customer-oriented and tailor-made for each customer at an individual level.

Wealth = n ^ CATT

Baffled?!!! Don’t worry. I am here to help you understand it.

“ Money goes where trust builds. ”

[T]Transaction : Convert your leads into customers with natural sales method.

Integrated Digital Marketing

Personal Branding

Well, regardless of the popular opinion, the best known company or professional in a certain field of work or a market may not necessarily be the most skilled one. Rather, it might very well be the case that there are others whose skill or product quality exceeds than that of the most well known professional or company.

Personal Branding: MassTrust Blueprint

MassTrust Blueprint describes all the steps in evolution of a personal brand. You can follow this blueprint as a guideline for your career in digital marketing and it will help you decide your direction at any point in your marketing career.

  1. Learn : Learn new skills, concepts, facts and procedures related to it. Remember the facts and practice the procedures repeatedly.
  2. Work : Use your newly learned skill in real world. Go from practice to implementation. Take up a new job, do some freelancing projects or concentrate on your own one.
  3. Blog : Write about what you have learned and experienced while working. When you write something you tend to understand and remember it better.
  4. Consult : Now that you have a personal brand through your own blog, learnt the fundamental concepts and have work experience, you can consult other business instead of working for them.
  5. Mentor : Mentor other who want to follow the path you have crossed. It will elevate your understanding to a whole new level.
  6. Startup : Start your own product with the knowledge that you have gained about the market and sell it to the target customers.

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