Marketing is the way to communicate or interact with the customers to sell the product or services where producer needs to give full satisfaction to the customer, so that, customers could attract with the products & services.
It is also the process to make relationships with the customer with different strategy as future planning to give services.
Definition of Marketing:
To give the definition of Marketing is uphill task, even so, Many institutes and Person have given their ideas about marketing in the form of definition.
According to The Chartered Institute of Marketing:– Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.
In the consideration of Philip Kotler:- Philip Kotler sir said that Marketing satisfying needs and wants through an exchange process.
In accordance with American Marketing Association:- It is the activity, set of institutions, and process for creating, communicating, delivering, & exchange offerings that gave value for customers, clients, partners, and Society at large.
Evolution of Marketing:
The word “Marketing” is derived from the Latin word “Mercatus” which means marketplace, Marketing is known as the commercial word in which commonly buying and selling services comes.
In the 19th Century, Many authors were given their consideration of marketing concept. In the words of Robert Keith’s ” The Marketing Revolution ” was a pioneering work in the study of the history of marketing practice.
By the article of Robert Bartel’s book, The Evolution of Marketing thought, marked a turning point in the understanding of how marketing theory developed since it first, emerged as a separate discipline around the end of the last 19th century.
Evolution of Marketing is simply divided into five eras which are following:
(1) Production Era: According to Robert Keith the duration of the production era was the 1860s to 1930s which guided to the seller but some authors raised their voice that the concept of production is still working in the corporate sector, it said by the great writer Kotler & Armstrong.
In this era, The focus was mainly on production, manufacturing and efficiency with less promotion & advertising. production era gave priority to demand that if demand will increase, then, supply will increase as well.
(2) Sales Era: Sales era was completely dedicated to sales and the tenure of this era was the 1890s to present. In the sales era, the main motto of the producer was selling maximum products through one door to another door. Meanwhile this era, there was a recession but the selling of products was not stopped.
(3) Marketing Era: This era/orientation came into force after sales orientation and the duration of this era was the 1950s. In this era manufacturer was targeted to the customer for marketing purpose, he desired to know about customer behaviour that what’s the need of the customer and which types of the products they are demanding?
(4) Societal Marketing consideration/Era: Societal Marketing consideration was firstly introduced by Philip Kotler, In this era society & the people were preferred than production because environment & customers rights were taken under this.
The manufacturer had to care about the environment in the societal marketing concept like an environmental factor – Air, Water & land pollution and so on. Customer rights were also preferred that customers are facing inappropriate pricing issues, misleading by the seller extra-extra.
(5) Concept of Relationship Marketing Era: Relationship Marketing was taken place after the great effort of Philip Kotler sir who was said that there is the relation between seller & buyer in marketing. He was given priority to the existing customers in the comparison of new customers.
He said that if we are doing marketing & we have a strong grip on the customers, then, our business will definitely grow.
Traditional Marketing and Digital Marketing
Traditional Marketing: Traditional marketing is also the part of marketing in which the manufacturer used to do marketing with the help of offline sources. The offline sources of marketing/advertisement were television, radio, newspaper, magazines & brochures as well. As we know that advertisement is the bone of the business but in traditional marketing, advertisement is very costly.
In the traditional way of marketing, we need to go to a particular shop to buy anything but right now, it has been fully changed after the coming of digital marketing. Before, we don’t have choices in addition to traditional marketing that’s why people & producer were facing the problems as well.
After the coming of e-commerce website the existence of traditional marketing is in danger, Government is also appreciating the digital marketing & there is the Digital India Planning as well which says that everything should be digitalized & paperless.
So, such factors are affecting traditional marketing, in upcoming days, traditional marketing will disappear from the market & it’s happening due to e-commerce sites. The consumer is attracting with e-commerce sites like Flipkart, Amazon, Myntra & Snapdeal etc. The manufacturer company is also not spending on traditional marketing & old way of advertisement.
Digital Marketing: Digital Marketing refers to the marketing which happens with the help of internet, digital marketing was implemented in 19th century but that time it was not so famous than today. Earlier, it was only famous in foreign country but after the coming of Jio telecom, It is becoming popular in India as well.
Digital marketing is cheaper than traditional marketing that’s why companies are also giving priority to digital marketing campaigns & many of the companies are recruiting to digital marketing executive for the advertisement of different advertising platforms.
In traditional marketing, there was the paucity of the data but digital marketing occurs on the internet that’s why it has plenty of data. Digital marketing gives the opportunity to do marketing very easily because it has many platforms of doing marketing like facebook marketing, Instagram marketing, LinkedIn marketing, twitter marketing, search engine optimization, google my business, google merchant centre, data analysis, content marketing and so on.
Above platforms of digital marketing are very beneficial for the marketers because it is cost effective & such ways of advertisement attracts to the customer.