Marketing Study Material Part - I
Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. In other terms Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization.
There are several types of marketing are there, those are
- Account Planning: Account planning brings the consumer into the process of developing advertising.
- Affinity marketing: Affinity marketing (also called partnership marketing) is an approach to marketing that involves multiple organizations forming a partnership to attract customers who may have an interest in what those organizations are selling. An example of affinity marketing would be a credit card company partnering with a professional sports team to place the team's logo on the credit card.
- Agricultural marketing covers the services involved in moving an agricultural product from the farm to the consumer. Numerous interconnected activities are involved in doing this, such as planning production, growing and harvesting, grading, packing, transport, storage, agro- and food processing, distribution, advertising and sale.
- Alliance marketing is marketing activity undertaken by more than one entity, jointly to promote and sell a concept, product or service which has benefit to all the stakeholders.
- Ambush marketing is a marketing strategy wherein the advertisers associate themselves with, and therefore capitalize on, a particular event without paying any sponsorship fee.
- Article marketing is a type of advertising in which businesses write short articles about themselves, their company or their field of expertise as a marketing strategy.
- Traditional Article Marketing: A business provides content to a newspaper, possibly on a timely topic such as an article on tax audits during tax season, and the newspaper may use the article and include the business's name and contact information. Newspapers and other traditional media have limited budgets for gathering content and these articles may be used in the business section of the newspaper.
- Internet article marketing is used to promote the authors expertise of their market, products or services online via article directories. Article directories with good web page ranks receive a lot of site visitors and may be considered authority sites by search engines,leading to high traffic. These directories then give PageRank to the author's website and in addition send traffic from readers. Articles and article directories attract search engines because of their rich content.
- Article video marketing is a new type of internet marketing and advertising in which business create 2-5 minute short videos about specific topics using content from articles and other text sources. The videos are then uploaded to various video sharing websites like YouTube for distribution and exposure.
- The Association of Publishing Agencies (APA) is a not-for-profit trade body that promotes the interests of companies involved in the production customer publishing.
- Brand language is the body of words, phrases, and terms that an organization uses to describe its purpose or in reference to its products. Brand language is used in marketing to help consumers connect specific words or ideas to specific companies or products.
- A business model describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. The process of business model construction is part of business strategy.
- In marketing, a call to action (CTA) is an instruction to the audience to provoke an immediate response, usually using an imperative verb such as "call now to find out more" or "visit a store today".
- Cause marketing or cause-related marketing refers to a type of marketing involving the cooperative efforts of a for profit business and a non-profit organization for mutual benefit. The term is sometimes used more broadly and generally to refer to any type of marketing effort for social and other charitable causes, including in-house marketing efforts by non-profit organizations.
- The cellar is the marketing theme or concept for the group of departments that are commonly located on the first floor below ground level at the larger Macy's department store locations.
- Close range marketing, commonly referred to as CRM, is a form of proximity marketing. Close Range Marketing is an emerging technology that allows businesses to both promote goods and services and involve their customers in interacting with the business. It commonly uses bluetooth technology to transfer content to cellular devices or laptops within the range of the transmitter. While Bluetooth is the most common means of transmitting, other signal types such as Wifi and FM are becoming more common.
- Community marketing is a strategy to engage an audience in an active, non-intrusive prospect and customer conversation. Whereas marketing communication strategies such as advertising, promotion, PR, and sales all focus on attaining customers, Community Marketing focuses on the needs of existing customers.
- Consumer Generated Advertising refers to advertising on consumer generated media. This term is generally used to refer to sponsored content on blogs, wikis, forums, social networking web sites and individual Web sites.
- Content marketing is any marketing that involves the creation and sharing of media and publishing content in order to acquire customers. This information can be presented in a variety of formats, including news, video, white papers, e-books, infographics, case studies, how-to guides, question and answer articles, photos, etc.
- Cross media marketing is a form of cross-promotion in which promotional companies commit to surpassing the traditional advertisements and decide to include extra appeals to their offered products.
- Customer advocacy is a specialized form of customer service in which companies focus on what is best for the customer. It is a change in a company's culture that is supported by customer-focused customer service and marketing techniques.
- Customerization is the customization of products or services through personal interaction between a company and the customer.
- Database marketing is a form of direct marketing using databases of customers or potential customers to generate personalized communications in order to promote a product or service for marketing purposes. The method of communication can be any addressable medium, as in direct marketing.
- Digital marketing is marketing that makes use of electronic devices (computers) such as personal computers, smartphones, cellphones, tablets and game consoles to engage with stakeholders. Digital marketing applies technologies or platforms such as websites, e-mail, apps (classic and mobile) and social networks. Social Media Marketing is a component of digital marketing. Many organizations use a combination of traditional and digital marketing channels.
- Direct marketing is a channel-agnostic form of advertising which allows businesses and nonprofit organizations to communicate straight to the customer, with advertising techniques that can include cell phone text messaging, email, interactive consumer websites, online display ads, database marketing, fliers, catalog distribution, promotional letters, targeted television commercials, response-generating newspaper/magazine advertisements, and outdoor advertising.
- Diversification is a corporate strategy to enter into a new market or industry which the business is not currently in, whilst also creating a new product for that new market. This is most risky section of the Ansoff's matrix, as the business has no experience in the new market and does not know if the product is going to be successful.
- Diversity marketing (or in-culture marketing) is a marketing paradigm which sees marketing (and especially marketing communications) as essentially an effort in communication with diverse publics.
- Ethical marketing refers to the application of marketing ethics into the marketing process.
- Evangelism marketing is an advanced form of word-of-mouth marketing (WOMM) in which companies develop customers who believe so strongly in a particular product or service that they freely try to convince others to buy and use it. The customers become voluntary advocates, actively spreading the word on behalf of the company.
- Faith-based marketing is the integration of religious faith into marketing and business.