10blogs’s Weblog

Marketing and Its Types.

Posted on: February 11, 2009

MARKETING:
Marketing is defined by the American Marketing Association as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. The term developed from the original meaning which referred literally to going to market, as in shopping, or going to a market to sell goods or services.
Marketing practice tends to be seen as a creative industry, which includes advertising, distribution and selling. It is also concerned with anticipating the customers’ future needs and wants, which are often discovered through market research.

Internet marketing also refers to the placement of media along different stages of the customer engagement cycle through (SEM), search engine marketingsearch engine optimization (SEO), banner ads on specific websites, e-mail marketing, and Web 2.0 strategies.
The Internet has brought many unique benefits to Digital marketing, one of which being lower costs for the distribution of information and media to a global audience. The interactive nature of Internet marketing, both in terms of providing instant response and eliciting responses, is a unique quality of the medium. Internet marketing is sometimes considered to have a broader scope because it refers to digital media such as the Internet, e-mail, and wireless media; however, Internet marketing also includes management of digital customer data and electronic customer relationship management (ECRM) systems.
Article Marketing:
It is one of the oldest & one of the most economic facets of Advertising. In common parlance, it means “Writing Interesting Articles to Promote Your Business”
Mostly these articles are written by business owners to promote their business to a mass audience, which in turn, helps the business in promoting their services & sometimes acquiring new clientele.
This form of marketing proved to be quite a useful & economical tool for businesses, but some businesses were not completely satisfied with the response they received with the articles posted in the local or national News Papers, because their prospective target audience, actually was thin spread across the globe. The Inception of The Internet, put an end to all their sorrows & disappointments, of losing out on the Prospective Audiences.

THERE ARE THREE MAIN TYPES :

There are 3 main types of marketing: undifferentiated marketing, differentiated marketing, and concentrated marketing.

Undifferentiated marketing : It assumes everyone is the same and aims a particular product at everyone. Advantages: easy to plan, doesn’t miss anyone. Disadvantages: can be wasteful, ignores segmentation, can lead to disappointing sales.

Differentiated marketing: It aims the product at specific segments in the market. The company may be trying to sell exactly the same product to different segments but it will change its promotional methods and the image it creates. Advantages: separate mix can be developed for each segment, different markets can be easily identified. Disadvantages: Can be costly, message may by-pass some customers.

Concentrated marketing : It is when the message is aimed at just one small market. Advantages: Small firms can concentrate their marketing, allows a specific mix to be developed. Disadvantages: Ignores other areas of the market, can cause problems in future as may make it more difficult for company to expand.

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