Understanding Marketing: Types, Benefits, and Best Practices

Explore Basics of Marketing. Difference between Traditional Marketing and Digital Marketing with Facto Biz. #factobiz7
Harsh Panchal
Estimated read time: 5 min

Introduction

"Understanding Marketing: Types, Benefits, and Best Practices" blog thumbnail image by FactoBiz
Marketing—the magic word that makes businesses shine like stars! 🌟 

So, if marketing is not advertising, then what is it? 

Let us break so for you in the simplest way possible.

What is Marketing?

In simplest terms, marketing is saying to the world, “HEY! Here I am, and I have great for you!".

This can happen by sharing the good word about your product or service, getting in touch, developing a relationship with people, and bonding with your audience. 

More simply, it's what drives customers through your door. Aur haan, without marketing, your business would be like a great singer performing in an empty auditorium.

What Does Marketing Include?

Marketing is more than just ads and sales. 

It spans from grasping the customer problem to build something they want, determining how much you might be able to charge for it, and then getting in front of customers.

Types of Marketing

Let’s break it down—traditional marketing versus digital marketing. 

It’s like comparing old-school thumkas to the latest hip-hop moves. 💃

There are mainly two types of marketing:

  1. Traditional Marketing
  2. Digital Marketing

Traditional Marketing Strategies
Traditional Marketing Strategies by FactoBiz

1. Outdoor Marketing:

Billboards, hoardings, posters—you have seen them all around, right? 

Your eyes could draw to these attention-grabbing, oversized billboards right while you fully stop for jam-up. 

In the modern world, having a highway beside your office makes a man big! 😅

2. Print Marketing:

Remember the good ol’ days of newspapers and magazines

Print marketing is still alive and kicking—think brochures, flyers, and print ads. Imagine reading a Sunday paper with your chai—classic combo! ☕📰

3. Direct Marketing

Mailers, catalogs, and yes, even those dhamaka offers that land in your mailbox are all forms of direct marketing. 

They send the message directly to you. It will play with your greedy mind.

4. Electronic Marketing

Television and radio advertising—these are the electronic advertising giants. 

This has been the go-to method for decades, from jingle ads that make you wish they would stop to singing TV commercials that catchy songs. I remember a song where a girl sing Nirma buzzline like, "Pehle istemal kare fir vishwas kar."

5. Event Marketing

Have you ever attended an event where a brand is handing out free stuff or running some wacky games? Yup, that’s event marketing. And, of course, brands love to connect with you in the real world (especially when there are goodies up for grabs). 😎

Digital Marketing Strategies

Digital Marketing Strategies Blog image by FactoBiz

Now comes the real deal—the modern stuff! 

Let’s talk about digital marketing:

FactoBiz GIF

1. Search Engine Marketing (SEM)

It is simply all about paid advertising on search engines such as Google and Bing. 

Well, for your next time to google what so ever and see “ad” above that—voila, there it is referencing Google Ads! That’s SEM. 

Google & ChatGPT se acha dost koi nahi jo chize hamu nahi janani uske bare me bhi sab bata deta hai! 😅

2. Email Marketing

My inbox is probably a lot like yours, piled up with promotional emails. Some are useful, I don't even know what to do with the second mail!!! JK

And yet a savvy email campaign can keep clients updated and increase your sales like you do it for a living. 

Did You know that Email Marketin has highest ROI among all other field of Digital Marketing!!!!!!

3. Social Media Marketing

How brands build personal relationships with you, from Facebook, Instagram, Pinterest & LinkedIn!!!!! 

This is the feeling we get when we see some hilarious meme of us and that too from your favourite brand!!!! #MarketingGoals 😄

4. Affiliate Marketing:

Brands have partners with other sites or influencers to market their products for them.

Think of it as a word-of-mouth referral from a reliable friend.

5. Content Marketing:

Content is king in the whole digital marketing field👑. 

Blogs, videos, infographics, and podcasts—all serve to educate and engage the audience.

And the best part? Great content never goes out of style.

Benefits of Marketing
Benefits of Marketing Blog image by FactoBiz

Marketing isn’t just about promoting a product. It’s way deeper than that. 

Here are the benefits you can't ignore:

  1. Audience Generation:
    Marketing helps you generate your audience, whether on social media or through your events.

  2. Inward Education:
    You learn what your customers care about and how to focus on that.

  3. Outward Education:
    Educating your audience regarding what you do. You become their go-to brand!

  4. Brand Creation:
    Marketing is about not only selling your product but also creating a brand for it. 59% of people do prefer to purchase from a name they trust, according to statistics. 🎯

  5. Long-lasting Impact:
    The effects of an effective marketing strategy stretch into the future. Zara si effort, bada result!

  6. Boost Financial Performance:
    A good marketing strategy helps in gaining greater profits. A 2023 study found that companies that invest in marketing experience a 20% increase in revenue compared to those who do not.

Limitations of Marketing

Limitations of Marketing Blog image by FactoBiz

Even the best plans have limitations. 

Here’s why marketing isn’t a magic wand:

  1. Oversaturation:
    Hundreds of thousands of social media users against brands and publishers.

  2. Devaluation:
    Too many offers or discounts might reduce the perceived value of a product.

  3. No Guaranteed Success:
    Marketing isn’t foolproof. Kuch campaigns chal jate hain, kuch fail ho jaate hain! 🙈

  4. Customer Bias:
    People may already have preferences, making it harder for your brand to stand out.

  5. Cost:
    Effective marketing can be expensive, and not every business has a big budget.

  6. Economy-Dependent:
    When an economy suffers, marketing budgets tend to shrink.

Importance & Purpose of Marketing

Selling is a big one. Being marketing is not only an option, but it is the necessity to keep going! 

Even the best product will not have a buyer without marketing

The purpose of marketing???????
To generate awareness, form relationships, and ultimately sell. 

Simple as that!

Areas of Marketing:

Marketing is made up of tons of fields—advertising, sales, market research, digital campaigns, you name it. 

Oo, the strategies change on each section of that great ocean.

Marketing Career Paths

Marketing Blog image by FactoBiz

Want to build a career in marketing? 

Here are some of the most exciting roles:

  • Marketing Coordinator:
    The person who is juggling about a dozen balls in the air at once.

  • Marketing Research Analyst:
    The Sherlock Holmes of market trends.

  • Social Media Manager:
    The meme-creator and trend-tracker.

  • Brand Manager:
    They make sure the brand shines! 🌟

  • Marketing Manager:
    The captain of the marketing ship.

  • Chief Marketing Officer (CMO):
    The top boss of marketing.

Some Best Marketing Examples

Think of Nike’s Just Do It campaign or Apple’s Think Different

These are legendary marketing campaigns that not only sold products but created a lifestyle! 

Stat alert: Nike’s “Just Do It” campaign increased their sales by 31% in the first year itself! 💥

Conclusion

In this blog, we’ve covered everything from traditional to digital marketing, the benefits, limitations, and career paths. 

The main takeaway???????

Marketing is an essential tool for any business. 

It's how brands connect with the world, educate customers, and build lasting relationships.

FactoBiz GIF

Phew! 
That was a lot to digest, wasn’t it? 

But trust me, mastering marketing is totally worth it. 

In the end, marketing is about telling your story to the right people in the right way.

Ready to become a marketing pro? Let's get started! 💪

Post a Comment

Oops!
It seems there is something wrong with your internet connection. Please connect to the internet and start browsing again.
AdBlock Detected!
We have detected that you are using adblocking plugin in your browser.
The revenue we earn by the advertisements is used to manage this website, we request you to whitelist our website in your adblocking plugin.
Site is Blocked
Sorry! This site is not available in your country.