Basic Knowledge for digital marketing
Marketing is the activity, set of Institutions, and processes for creating, communication, delivering, and exchange offerings that have value for customers, clients, partners, and society at large. and other words the commercial processes involved in promoting and selling and distributing a product or service.
-American Marketing Association
Digital Marketing :-
Digital marketing is the marketing technique that involves, usage of digital medium such as Internet and wireless for creating Awareness, Consideration, Purchase and Loyalty for a brand, product or a services.
Internet & wireless medium Four objective of marketing
Such as Awareness, Consideration
Meaning of marketing :-
(PPC) : Producer Products Consumers
Who is seller?
The person or a company that is involved in the exchanging product or services for a money.
For example:- Imagine you are shop owner you provide a customers goods and services such as customers buying product but product goes to his home is known services. ( goods and services exchanged for money is known as sellers.)
Who is buyer?
A person actually used products (goods) or services who exchange products and services from a seller and pays money for it.
For example:- Are actually requirement of the product is known buyer.
Who is customer?
Everyone is customers but actually a person who makes the buying decision.
Who is consumer?
One of the most important part of customer one who actually uses the product or services.
Objective of Marketing
- Customer satisfaction
Customer satisfaction has been one of the top tools for a successful business. Every business organization’s success depends on the satisfaction of the customers. Whenever a business is about to start, customers always come ‘first’ and then the profit. Those companies that are succeeding to satisfy the customers fully will remain in the top position in a market. Today’s business company has known that customer satisfaction is the key component for the success of the business and at the same time it plays important role to expand the market value. In general, customers are those people who buy goods and services from the market and business that meet their needs and wants. Customers purchase products to meet their expectations in terms of money. Therefore, companies should determine their pricing with the quality of the product that attracts the customer and maintains the long-term relation.
Customer satisfaction = customer expectations customer satisfaction.
- Increase in Demand
The marketing management second objective is to increase demand through various means. A aware attempt is made to find out the preferences and tastes of the consumers. Goods and services are produced to satisfy the needs of the customers. Demand is also created by informing the customers the utility of various goods and services.
There are many causes of increase in demand. for example
Increase in Demand = Price reduce lower the price of any product
- Provide Better Service (Brand) Quality Products and create relationship
Brands are the names and symbols and they are the key element to establish company relationship with customers. Brands represent the consumer’s feelings and perception about the product and its performance everything that service or products mean to customers and finally, brands stay in the customer’s mind. Products are made in a company, but the brands image are created in the mind. Brands are the major enduring asset of the company.
- Create Goodwill For the Organization
To build up the goodwill of the firm over a period is another objective of marketing. The marketing department provides quality products to customers at reasonable prices and thus creates its impact on the customers. the marketing manager attempts to raise the goodwill of the business by initiating image- building activities such a sales promotion, publicity and advertisement, high quality, reasonable price, convenient distribution outlets, etc.
- Generate Profitable Sales Volume
The marketing department is the only department which generates sales, revenue, profitable for the business. Sufficient profits must be earned as a result of sale of want-satisfying products. If the firm is not earning profits, it will not be able to survive in the market. Moreover, profits are also needed for the growth and diversification strategy of the company.
Function of marketing
- Market Research
- Product Planning
- Standardization & Grading
Understanding Market Mix
The market mix
Product – Price – Place – Promotion
Product – Price – Place – Promotion – People – process – physical environment