Overview of Traditional Marketing
Overview of Traditional Marketing
The Purpose Behind: 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”. If one dilutes all the verbosity and looks at it, marketing means “selling” a product. 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.
Factors that Influence: With “selling” as the ultimate goal, marketing strategies are influenced by two basic factors: first, acquisition of customers; second, 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.
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 following strategies.
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 product or offering a service. The marketing mix comprises of Product, Price, Promotion and Placement. In McCarthy’s assessment, first and foremost comes the Product-its production and management; second, the process of fixing an affordable price; third, the promotion of the product which includes advertising, branding etc and finally fourth, the placement or distribution of the product, its retailing and the process by which it reaches the customer. All these four elements have to be decided and well planned before pitching into any product launch.
Segmentation- Categorize your audience: In traditional marketing, the market is segmented into many subsets or segments depending on geographic, demographic, psycho graphic and behavioral variables. Each segment is homogenous and responds in a particular way to a particular marketing strategy. Small segments are considered as ‘niche’ markets or ‘specialty’ markets. A product is aimed at a particular segment and is launched only after thorough market research and consumer research on the segment. This assures the marketer that he is not bungee jumping but walking safely and securely on a well-laid road. Hence a product that is not needed by that particular segment is not produced. This deep analysis of the target segment is called ‘depth segmentation’. While the study of the target customer’s behavioral traits, nature, lifestyle etc is called ‘Buyer’s Profile’. With all these the marketer draws a marketing plan, which is fully geared to reach the target consumer.
Other aspects: Traditional marketing, unlike New Marketing, is Company-focused and product-based. It intends only to increase the visibility of the Company and its brand. The message conveyed to the customer is Company-controlled and motivated unlike in new marketing, which is Consumer-focused and attuned to consumer’s interests. The Company becomes the active participant while the consumer fades into the inactive and passive zone. A marketer, adopting the traditional method, will use his product’s USP (Unique Selling Proposition) to market it. USP is that unique feature which is exclusive to a particular product from a particular brand. With less number of competitors, USP-marketing is a very novel method. But in today’s world every other brand has all the features offered by its competitor. Hence the glamour of USP-marketing is fading away.
Advertising and Promotion: Marketing plans and strategies finally end in advertising. For it is advertising which exposes the product to the world and places it in a platform for the target customer to view. It gives the product visibility and helps boosts its sales. Advertising, in general, can be classified into two trends: Above-the-line (ATL) and Below-the-line (BTL). ATL covers all the advertising done through media. BTL stands for all the promotions- public relations, sponsorships, merchandising etc. In traditional marketing mostly ATL is practiced. The following media are the ATL modes of advertising: Print Medium: Newspapers, Magazines, Yellow Pages, Posters and Billboards. TV & Radio: All kinds of TV and Radio spots Other Communications: All kinds of mailers and leaflets
Traditional Marketing – Is it valid today? When the world shifts gears and operates in a faster pace, it is advisable for us also to follow its lead and take up the trend. Traditional Marketing, say many market analysts, fails to work in today’s world. The brand recall is very minimal as the customer is exposed to a variety of brands. Moreover, as every other brand is as good as its competitor, there is no particular reason for the consumer to opt for a particular brand. That’s why today’s marketer aims at 360-degree marketing - an all round marketing strategy covering all the available modes and aimed at constant brand recall. This is where online marketing offer a lot of hope for the marketer as the web reaches out to the prospective buyer in a fastest pace possible. With all these around, the question of whether traditional marketing is valid today rises.
Maybe one can nullify this question by a few well-grounded answers: Traditional Marketing is adjudged as the best method according to a national survey conducted in 2005 in the U.S. jointly by Harris Interactive and Public Relations Society of America. As per the survey, most of the general public, Fortune 1000 businessmen and Congressional Staffers voted the traditional method of marketing as the best method. Though the year 2005 belongs to a dead past now, the statement by the reputed marketer Mr. Wilson will put an end to doubting queries: “ Traditional Marketing helps because people still view them”.
Overview of Traditional Marketing - To learn more about this author, visit Jeff Blackwell's Website.
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Marketing - A Juggler’s Art: Marketing, in more the one way, is like juggling. This strange analogy will become crystal clear if we take a close look at it. Just like the juggler the marketer too has to do these things to thrive in his business: first, he has to hook his audience; gain their attention through several jazzy tricks; and then hold their attention by still more innovative juggling. All this he has to achieve without losing balance, focus or steadfastness in the art, the industry, in the marketer’s case. In short, marketing is all about alluring, attracting and holding a collection of customers for your Company’s welfare.
The Purpose Behind: 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”. If one dilutes all the verbosity and looks at it, marketing means “selling” a product. 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.
Factors that Influence: With “selling” as the ultimate goal, marketing strategies are influenced by two basic factors: first, acquisition of customers; second, 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.
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 following strategies.
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 product or offering a service. The marketing mix comprises of Product, Price, Promotion and Placement. In McCarthy’s assessment, first and foremost comes the Product-its production and management; second, the process of fixing an affordable price; third, the promotion of the product which includes advertising, branding etc and finally fourth, the placement or distribution of the product, its retailing and the process by which it reaches the customer. All these four elements have to be decided and well planned before pitching into any product launch.
Segmentation- Categorize your audience: In traditional marketing, the market is segmented into many subsets or segments depending on geographic, demographic, psycho graphic and behavioral variables. Each segment is homogenous and responds in a particular way to a particular marketing strategy. Small segments are considered as ‘niche’ markets or ‘specialty’ markets. A product is aimed at a particular segment and is launched only after thorough market research and consumer research on the segment. This assures the marketer that he is not bungee jumping but walking safely and securely on a well-laid road. Hence a product that is not needed by that particular segment is not produced. This deep analysis of the target segment is called ‘depth segmentation’. While the study of the target customer’s behavioral traits, nature, lifestyle etc is called ‘Buyer’s Profile’. With all these the marketer draws a marketing plan, which is fully geared to reach the target consumer.
Other aspects: Traditional marketing, unlike New Marketing, is Company-focused and product-based. It intends only to increase the visibility of the Company and its brand. The message conveyed to the customer is Company-controlled and motivated unlike in new marketing, which is Consumer-focused and attuned to consumer’s interests. The Company becomes the active participant while the consumer fades into the inactive and passive zone. A marketer, adopting the traditional method, will use his product’s USP (Unique Selling Proposition) to market it. USP is that unique feature which is exclusive to a particular product from a particular brand. With less number of competitors, USP-marketing is a very novel method. But in today’s world every other brand has all the features offered by its competitor. Hence the glamour of USP-marketing is fading away.
Advertising and Promotion: Marketing plans and strategies finally end in advertising. For it is advertising which exposes the product to the world and places it in a platform for the target customer to view. It gives the product visibility and helps boosts its sales. Advertising, in general, can be classified into two trends: Above-the-line (ATL) and Below-the-line (BTL). ATL covers all the advertising done through media. BTL stands for all the promotions- public relations, sponsorships, merchandising etc. In traditional marketing mostly ATL is practiced. The following media are the ATL modes of advertising: Print Medium: Newspapers, Magazines, Yellow Pages, Posters and Billboards. TV & Radio: All kinds of TV and Radio spots Other Communications: All kinds of mailers and leaflets
Traditional Marketing – Is it valid today? When the world shifts gears and operates in a faster pace, it is advisable for us also to follow its lead and take up the trend. Traditional Marketing, say many market analysts, fails to work in today’s world. The brand recall is very minimal as the customer is exposed to a variety of brands. Moreover, as every other brand is as good as its competitor, there is no particular reason for the consumer to opt for a particular brand. That’s why today’s marketer aims at 360-degree marketing - an all round marketing strategy covering all the available modes and aimed at constant brand recall. This is where online marketing offer a lot of hope for the marketer as the web reaches out to the prospective buyer in a fastest pace possible. With all these around, the question of whether traditional marketing is valid today rises.
Maybe one can nullify this question by a few well-grounded answers: Traditional Marketing is adjudged as the best method according to a national survey conducted in 2005 in the U.S. jointly by Harris Interactive and Public Relations Society of America. As per the survey, most of the general public, Fortune 1000 businessmen and Congressional Staffers voted the traditional method of marketing as the best method. Though the year 2005 belongs to a dead past now, the statement by the reputed marketer Mr. Wilson will put an end to doubting queries: “ Traditional Marketing helps because people still view them”.
Overview of Traditional Marketing - To learn more about this author, visit Jeff Blackwell's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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