Marketing is described by Wikipedia as the use of “marketing practices to promote the quality and usefulness of a product or service.” Marketing, therefore, can be defined as the systematic act of bringing together customers and producers or the sharing of the consumers’ comparative advantage.
Marketing deals with the communication of information about a product or service to the customer. This enables the customer to select a product or service that meets his needs and preferences and also enable him to acquire it at a reasonable price. Marketing therefore, is the art of establishing communication and awareness among people so that they make informed decisions about buying a particular product or service.
Types of Marketing
There are several common types of marketing efforts that are conducted on a regular basis. One of the most common types is the advertising campaign. Advertising campaigns are designed to capture and hold the attention of the target market by presenting products and services in attractive and persuasive ways. A marketing strategy thus consists of several steps leading up to the advertising campaign such as research, development of advertising tools and media support, tracking of advertising results, and evaluation of marketing results. Even efforts to buy YouTube likes for content that promotes a product is considered part of marketing efforts.
Another common form of marketing is the placement of ads on newspapers, magazines, billboards, television, and radio. In this method, advertisers let people know about their products and services by paying the owner of the ad space for each ad. The location of the ad may vary from publication to publication. For instance, in a magazine, the ad may be placed in the women’s section, in a children’s section, or in some other particular section.
Inbound marketing refers to the use of advertising and promotional activities within the company premises for the promotion of its products and services. The nature of the activities may include giving discounts to selected customers, providing incentives to customers for taking appointments, or offering weekend sales. Outbound marketing refers to activities that send messages directly to the target market. Examples of outbound marketing include direct mail campaigns, television advertisements, radio announcements, and brochures.
Digital marketing strategies are used for creating, storing, and distributing digital marketing materials. The digital materials can include email, videos, audio files, and text documents. There are four main categories of digital marketing strategies: client-based, content-based, contextual, and social media. Client-based marketing involves interactions with the customer through personal contact. Content-based marketing consists of using web content such as blogs, articles, press releases, and social networking sites in the promotion of a product or service. Contextual marketing involves the use of digital signals and digital coupons in the promotion of a product or service.
Another way to promote products and services is through the distribution of flyers, pamphlets, posters, and ads in the public. One of the most common types of marketing used by companies is the use of television advertising. However, it is important to note that television advertising only reaches the targeted audience.
Digital advertising refers to the promotion of products and services through the Internet. One of the most common types of digital advertising is banner advertising. It is often used on websites, in email ads, and in the pop up ads that appear when the user visits a particular site. Another popular form of digital advertising is the use of mobile advertising, which is delivered through the use of cell phones.
The Use Of Social Media
Social media marketing is another way to market a product or service. This marketing strategy uses several common types of marketing strategies to promote a business or company. Examples of social media marketing strategies include social network marketing, online marketing, and content marketing.