Marketing is a term that has expanded into various understandings over time, but one that can still be easily explained in four terms: “product, price, location, and advertising.” The word “advertising” is also used commonly, even though it is not technically a marketing term. The common use of the word has grown out of changes in society and technological developments. One of the first changes was in the public’s willingness to purchase products on credit.
The term “marketing” is really a broad foundation model for most businesses, historically focused around price, product, location, and advertising. In today’s world, the marketing mix is evolving towards an environment that is more Internet-centric, focusing on customer service and information gathering instead of simply product promotion and advertising. The advertising focus of a business has changed from simply “marketing” to creating a communication strategy with a target audience. A business can use technology to help in this strategy by creating an online presence, and then communicating with those customers via email, the Web, and other formats of communications.
There are several tools that a business can use to communicate with customers and create a strong marketing strategy. The goal of these tools is to create a strong brand identity for the business, which can be accomplished through branding, positioning, or repetition. Branding establishes who the business is and what they stand for. Branded positioning is about defining the look and feel of the brand, especially on the web. Repetition is another way to establish a brand and give it consistency across multiple platforms.
An effective marketing tool is the ability to create a consistent message that can be understood by a target audience. For example, an attorney can use blogging as a way to communicate with potential clients and prospects. In addition to creating content, many businesses also take advantage of social media marketing by communicating with followers and fans on a social media network. By sharing positive stories and content, a business can establish a reputation within their target audience, which can lead to repeat business down the road.
When interacting with potential customers and clients, another marketing tool is creating a presence on the social media networks. Social media allows a business to interact with their audience, react to conversations, share information, and build relationships with their target audience. This interactive platform also allows a business to provide updates and news to their followers and fans, as well as monitor their overall activity on the network.
Lastly, many businesses have found that a combination of traditional and new media is the best way to develop a strong marketing strategy. This includes traditional forms of advertising such as television advertising, billboards, radio spots, fliers, trade magazines, direct mail, etc., as well as newer forms of advertisement such as viral videos, podcasts, books, social media, and more. Each of these forms of advertisement provides a unique opportunity for a business to reach their target audience. In addition to reaching target audiences through media, a marketing strategy can also be developed by a company that focuses on online marketing. The Internet provides a unique opportunity for businesses to establish themselves and their brand name in a global marketplace.