Eplaination of marketing and the types of marketing. Like Direct marketing, Cause marketing,Database marketing, International Marketing, Digital marketing, Geomarketing and Visual marketing
Marketing mix | A marketing mix typically involves
1. Marketing
Marketing is the study and management of
exchange relationships. Marketing is the
business process of creating relationships with
and satisfying customers. With its focus on the
customer, marketing is one of the premier
components of business management.
2. Some types of marketing
● Direct marketing
● Cause marketing
● Database marketing
● International Marketing
● Digital marketing
● Geomarketing
● Visual marketing
3. Direct marketing
Direct marketing is a form of communicating an offer, where
organizations communicate directly to a pre-selected[1] customer and
supply a method for a direct response. Among practitioners, it is also
known as direct response marketing. By contrast, advertising is of a
mass-message nature.
Lester Wunderman, the founder of Wunderman, Ricotta & Kline,
coined the phrase Direct Marketing in 1958.
Response channels include 800-numbers, reply cards, reply forms to
be sent in an envelope, web-sites and email addresses.
The prevalence of direct marketing and the unwelcome nature of
some communications. has led to regulations and laws such as the
CAN-SPAM Act, requiring that consumers in the United States be
allowed to opt out.
4. ●Cause marketing
Cause marketing is defined as a type of corporate social
responsibility, in which a company’s promotional campaign has the
dual purpose of increasing profitability while bettering society.[1]
A similar phrase, cause-related marketing, usually refers to a subset
of cause marketing that involves the cooperative efforts of a for-profit
business and a non-profit organization for mutual benefit. A high-
profile form of cause-related marketing occurs at checkout counters
when customers are asked to support a cause with a charitable
donation. Cause marketing differs from corporate giving
(philanthropy), as the latter generally involves a specific donation that
is tax-deductible, while cause marketing is a promotional campaign
not necessarily based on a donation.
5. Database marketing
Database marketing is a form of direct marketing using databases of
customers or potential customers to generate personalized
communications in order to promote a product or service for
marketing purposes. The method of communication can be any
addressable medium, as in direct marketing.
The distinction between direct and database marketing stems
primarily from the attention paid to the analysis of data. Database
marketing emphasizes the use of statistical techniques to develop
models of customer behavior, which are then used to select
customers for communications. As a consequence, database
marketers also tend to be heavy users of data warehouses, because
having a greater amount of data about customers increases the
likelihood that a more accurate model can be built.
6. International Marketing
The International Marketing is the application of marketing principles
to satisfy the varied needs and wants of different people residing
across the national borders.Simply, the International Marketing is to
undertake the marketing activities in more than one nation. It is often
called as Global Marketing, i.e. designing the marketing mix (viz.
Product, price, place, promotion) worldwide and customizing it
according to the preferences of different nation people.
The foremost decision that any company has to make is whether to
go international or not, the company may not want to globalize
because of its huge market share in the domestic market and do not
want to learn the new laws and rules of the international market.
7. Database marketing
Database marketing is a form of direct marketing using databases of
customers or potential customers to generate personalized
communications in order to promote a product or service for
marketing purposes. The method of communication can be any
addressable medium, as in direct marketing.
The distinction between direct and database marketing stems
primarily from the attention paid to the analysis of data. Database
marketing emphasizes the use of statistical techniques to develop
models of customer behavior, which are then used to select
customers for communications. As a consequence, database
marketers also tend to be heavy users of data warehouses, because
having a greater amount of data about customers increases the
likelihood that a more accurate model can be built.
8. Digital marketing
Digital marketing is the marketing of products or services using digital
technologies, mainly on the Internet, but also including mobile
phones, display advertising, and any other digital medium.
Digital marketing's development since the 1990s and 2000s has
changed the way brands and businesses use technology for
marketing. As digital platforms are increasingly incorporated into
marketing plans and everyday life, and as people use digital devices
instead of visiting physical shops, digital marketing campaigns are
becoming more prevalent and efficient.
9. Geomarketing
In marketing, geomarketing (also called marketing geography) is a
discipline that uses geolocation (geographic information) in the
process of planning and implementation of marketing activities.[1] It
can be used in any aspect of the marketing mix – the product, price,
promotion, or place (geo targeting). Market segments can also
correlate with location, and this can be useful in targeted marketing.
Geomarketing is applied in the financial sector through identifying
ATMs traffic generators and creating hotspots maps based on
geographical parameters integrated with customer
behavior.Geomarketing has a direct impact on the development of
modern trade and the reorganization of retail types. Site selection
becomes automated and based on scientific procedures that saves
both time and money. Geomarketing uses key facts, a good base
map, Whois data layers, consumer profiling, and success/fail criteria.
GPS tracking and GSM localization can be used to obtain the actual
position of the travelling customer.
10. Visual marketing
Visual marketing is the discipline studying the relationship between
an object, the context it is placed in and its relevant image.
Representing a disciplinary link between economy, visual perception
laws and cognitive psychology, the subject mainly applies to
businesses such as fashion and design.
As a key component of modern marketing, visual marketing focuses
on studying and analyzing how images can be used to make objects
the center of visual communication. The intent is that the product and
its visual communication therefore become strategically linked and
inseparable and their fusion is what reaches out to people, engages
them and defines their choices (a marketing mechanism is known as
persuasion[2]). Not to be confused with visual merchandising, that is
one of its facets and more about retail spaces; here, Marketing gets
customers in the door. Once inside, merchandising takes over—
affecting placement of products, signage, display materials, ambiance
and employee staffing.