Marketing in business is the activity of identifying customers and their needs, attracting them, creating, communicating, and delivering value to customers.
It involves understanding people’s needs, developing products or services that meet them, and positioning them to attract and retain customers.
Some key marketing objectives include:
Marketing plays a vital role in any business, big or small.
Here’s why…
Because of its importance in business, the marketing concept has evolved.
In the initial days, there was no structured promotion.
Transactions relied on personal relationships and direct exchange.
Slowly, businesses focused on mass production, believing customers valued availability and affordability.
And then came print, radio, and door-to-door sales. As an improvement, there was a massive shift from selling products to understanding customer needs and preferences.
Companies started focusing on social responsibility alongside profits. Now, internet, social media, and data-driven marketing transformed how businesses interact with consumers.
Marketing in business is all about getting the right product in front of the right people at the right price and in the right place. If any of these factors are off, sales will suffer.
That’s why businesses use the Marketing Mix. Marketing mix is a concept introduced by E. Jerome McCarthy in his book, “Basic Marketing: A Managerial Approach”.
This theory discusses how a business should mix all the 4 Ps of marketing to increase sales and profits.
Here are the 4 Ps of marketing:
Let’s break each one down in the simplest way possible so you can apply it to your business.
Your product is the solution you offer to customers. What you sell can be a physical product, a service, or even digital content.
When you are creating a product, make sure these 3 key factors are taken care of.
A local bakery sells cakes. If the cakes taste amazing, customers will keep coming back. If they’re dry or overpriced, people will go elsewhere.
Your pricing strategy can make or break sales. Pricing is about positioning your product correctly in the market.
Here’s how you can make sure that your pricing is right.
Mercedes-Benz prices its cars high because it sells luxury, prestige, and quality. On the other hand, Maruti Suzuki offers affordable cars to attract budget-conscious buyers.
You may have the perfect product at the perfect price, but if customers can’t find it, they can’t buy it.
The place refers to where and how you distribute your product. It can be online, retail stores, or through direct sales.
Understanding your customers will help you decide and optimise where you sell your products.
Amazon makes online shopping easy, while Reliance Trends ensures its fashion products are available in malls.
Promotion is how you get people to notice your product and convince them to buy it. This includes advertising, social media, influencers, SEO, and word-of-mouth marketing.
If no one knows your product exists, they won’t buy it, right?
Different products need different marketing strategies (some businesses rely on online ads, others on referrals).
Zomato’s witty social media posts attract engagement, while Coca-Cola runs big TV and digital campaigns to stay top-of-mind.
The 4 Ps explain how marketing works, but real growth needs more than theory.
In our 3-day in-person program, you’ll learn to implement strategies that improve profits, stabilize sales, and make every business function work.
Marketing in business comes in many forms…
And each type helps businesses reach their audience in different ways. Here are some key types:
This is one of the oldest ways of marketing a business. It effectively reaches local audiences and is still relevant to many small businesses. today
This type of marketing promotes products using offline methods, such as TV ads, newspapers, radio, billboards, and flyers.
Everything has become digital, and so does marketing. This is effective in reaching a global audience.
Digital marketing involves marketing through online channels such as websites, social media, SEO, email marketing, and paid ads.
When you search for whatever you want to buy, the first website that shows up is Amazon.
This is because they have excelled in SEO and PPC advertising strategies.
CONTENT is KING! And we cannot just ignore this truth.
Content marketing creates and shares valuable, engaging, entertaining content and visuals to attract and retain customers.
It involves creating valuable blogs, videos, infographics, and e-books to attract and educate customers.
Have you seen HubSpot’s website? Many good brands use content marketing (blogs, e-books, and free courses) to educate their audience and attract customers.
This type of marketing is effective in gaining trusted customers.
You must collaborate with social media influencers and celebrities to promote your product or brand.
Along with your repeat audience, it attracts a different set of new audiences.
H&M’s posts or clothes are shared by many influencers across platforms like YouTube, Instagram, TikTok and many others. Do you know why?
They use influencer marketing to market their latest collections.
The name explains itself. It uses platforms like Facebook, Instagram, LinkedIn, and Twitter. You can engage your audiences and build brand awareness through these social media platforms.
It’s also one of the oldest ways of marketing and one of the most effective ways.
Here’s where businesses send personalised emails to prospects and customers to nurture relationships and boost sales.
This type of marketing is performance-based.
Businesses will pay commissions to individuals or companies that refer customers through special links.
It’s compelling to drive more traffic through referral links.
This approach is where businesses reach customers through direct messaging and one-to-one conversations.
It communicates directly with customers through emails, SMS, phone calls, or direct mail.
| Did you know? According to reports, the use of SMS marketing is increasing. In 2024, 80% of businesses will use SMS marketing. |
Pizza is our second favourite; first is you!
It’s so witty, right? Zomato sends these quick messages to engage the audience and promote its food delivery service. Even its tweets and Instagram posts are engaging.
Event marketing hosts or sponsors events, such as trade shows, webinars, or live demonstrations, to engage potential customers and showcase products or services.
Guerrilla marketing is one of the unique and interesting ways to market your business.
It is a low-cost, highly creative marketing strategy that uses unconventional and surprising tactics…
For example, viral stunts, street art, or flash mobs create buzz and capture attention.
Every brand that successfully grows has a well-planned marketing strategy.
The Best-Known Always Beats the Best.
– Rajiv Talreja
A marketing strategy is a plan of action.
It is a well-planned approach that determines how a product or service should be promoted, how and how to attract customers, and how to increase sales using different marketing techniques, such as advertising, content, and social media.
The marketing process is a step-by-step approach businesses use to attract customers, create value, and drive sales.
It helps companies understand their audience, develop strategies, and promote their products effectively.
The marketing process has five crucial steps because the other cannot happen without it.
A marketing plan is a structured strategy that outlines how a business should do its marketing.
The outline of how a business will attract, engage, and convert customers. It includes goals, target audience, marketing channels, and action steps.
A marketing channel is a medium of communication that businesses use to connect with their audience and promote their products and services.
These channels can be direct (selling without intermediaries) or indirect (using third parties like retailers and affiliates).
A marketing funnel represents the customer journey from awareness to purchase.
It helps businesses attract, nurture, and convert leads while optimising marketing efforts at each stage.
You can measure marketing performance in various ways, and this helps businesses understand what’s working, what’s not, and how to improve.
It involves tracking key metrics, analysing data, and optimising strategies for better results.
Like the two sides of a coin, everything has its benefits and drawbacks. Let’s explore the advantages of marketing in business and also its limitations.
Like the two sides of a coin, everything has its benefits and drawbacks. Let’s explore the advantages of marketing in business and also its limitations.
| Benefits of Marketing | Limitations of Marketing |
| Increases brand awareness | High marketing costs |
| Attracts and retains customers | Requires continuous effort |
| Boosts sales and revenue | Results take time |
| Builds customer trust and loyalty | Can be affected by competition |
| Provides business growth opportunities | Not all strategies work |
Marketing is evolving, and with that, businesses are evolving, too. Here are some of the recent trends.
Sending the right message to the right people at the right time is possible through AI.
It helps in recommending products, emails, and ads based on their interests. This makes marketing more personal and effective, leading to higher sales.
With voice assistants like Alexa, Siri, and Google Assistant, more people search by talking instead of typing.
This means businesses need to optimise their content for natural, conversational questions.
People want more than just ads. They want to experience products before buying.
Augmented Reality (AR), Virtual Reality (VR), and interactive quizzes help customers make better choices while keeping them engaged.
Platforms like Instagram, Facebook, and TikTok now let businesses sell products directly inside the app.
This makes shopping easier and faster since customers don’t have to leave the platform to buy.
More people today care about sustainability and ethical business practices.
Brands that show they care about the environment and social causes build stronger trust and loyalty.
Marketing trends come and go, but growth belongs to businesses that know how to adapt.
This 3-day program shows you how to align your goals, refine your model, and scale with confidence, no matter the trend.
There are many marketing terms every business owner should know, but you must be aware of the one that matters most to your business.
Here are the essentials…
Marketing is essential to every business because it helps in business growth.
Though some marketing strategies and techniques require money, you should invest in those to build your brand, engage customers, and drive sales.
A strong strategy, proper channels, and consistent efforts can make all the difference.
A marketer creates demand, drives engagement, and builds customer relationships.
If you are looking to build a marketing team in your business, here are the responsibilities of a marketer.
Stay calm and respond professionally. Engage only when necessary, as many people who spread hate are just doing it to seek attention.
Focus on building a positive brand reputation.
Read your industry-related blogs, attend webinars, network with experts, and track competitors’ marketing strategies regularly.
Staying updated will not help. You must implement each individually to determine which works best for your business.
CTA is the call to action.
A strong CTA guides users toward action to sign up, buy, or engage, boosting conversions.
When your team’s efforts aren’t driving results, the first step is to analyse where the gap is.
Is it because your team lacks relevant skills? If so, you can develop them through a learning plan.
You can invest in marketing services when you need expert marketing strategies for faster growth.
B2B focuses on logic, relationships, and long sales cycles, while B2C is emotional, fast-paced, and customer-driven.
None can destroy iron, but its own rust can! Likewise, none can destroy a person, but their own mindset can.
Former chairperson of the Tata Group
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