Marketing is a process designed to bring a product or service to market through the systematic promotion of the first for profit sale. There are several facets of marketing that make it difficult to define, such as advertising, branding, and public relations.
Marketing is important for businesses because it can help a company achieve the goals that they want to accomplish. It helps companies connect with their customers, reach out to new markets and attract more customers. Marketing also helps create brand awareness and generates revenue through sales.
What are the 7 types of marketing
Marketing is the process of planning, executing, and managing the marketing and sale of ideas, goods, or services to meet the needs of a target market.
1. Public Relations:
Public relations is the process of influencing public opinion in order to promote a company, product or idea. PR professionals are responsible for managing the company’s relationships with key stakeholders and news outlets while carefully selecting favorable publicity opportunities to create a positive image for the firm.
Public relations is the management of communication between an organization and its publics. Public relations specialists advise on their clients’ media image, monitor audience response to various campaigns and conduct media training for employees of their client organization or company.
2. Mass Marketing:
Marketing to large groups of people who are not the target market (e.g., a house painting company). The term “mass marketing” may mean different things to different people. It can refer to a specific marketing strategy, or it can mean the process of creating and spreading messages in a way that appeals broadly to the entire population. Products should be marketed in such a way that they are accessible by many consumers and are not dependent on trade shows or other traditional media outlets for promotion.
3. Direct Marketing:
Marketing through direct telephone calls, letters, and other personal contact (e.g., direct mail campaigns). Direct marketing is a form of marketing in which messages are sent to a specific audience, with the goal of persuading the recipients to take some type of action. Direct marketers typically use e-mail, phone, and postal mail to send messages.
4. Network Marketing
Network Marketing is a business strategy in which independent contractors market products directly to customers they have recruited, who in turn become distributors of these products. This is one of the most successful and lucrative businesses in the world. It is an industry that allows you to work from home, build a team of like-minded individuals and generate income. The goal of network marketing is to build your own business by helping others grow theirs.
5. Retail Marketing
Retail Marketing is the marketing of products or services to end-users by means of a salesperson’s personal contact with prospects. The retail marketing concept is a business strategy that involves the use of tools and platforms to effectively sell products. Retailers can effectively market their brands by using social media platforms, digital marketing, in-store displays, promotions and word-of-mouth advertising.
There are also more interactive displays, such as digital signage, that allow customers to see real-time updates.
6. Word-of-Mouth Marketing:
Marketing through the use of interpersonal conversations: “word-of-mouth”. Word-of-Mouth marketing is a popular and widely used form of digital marketing. A company or brand decides to launch a product and will use their social media platforms, website, blogs, etc. to announce the release of the product. The company will ask their followers to share what they think about the product by posting on social media in hopes that it will generate more buzz around the product. Word -of-Mouth marketing can be also be referred to as viral marketing as it relies on spreading information about a product or service through talking with friends and family.
7. Lead Generation:
Generating leads for other businesses or charity organizations. The Internet has played an important role in global commerce. Lead generation marketing is a process of identifying, generating, and qualifying leads. It is important to know what you are doing when it comes to lead generation marketing because the wrong approach can cost a business significantly.