What is Marketing? | Marketing Mix (4 Ps of marketing) | Types of Marketing

hello and welcome back to our Channel today we're diving deep into a topic that influences every product you buy every advertisement you see and every brand you love marketing what exactly is marketing why is it so crucial for businesses and how has it evolved over the years by the end of this video you'll have a thorough understanding of marketing its various types and real world examples of successful marketing strategies let's get started before we dive into the intricacies let's outline the key takeaways first definition of marketing second the marketing mix four Ps third types of

marketing strategies fourth benefits of marketing first definition of marketing marketing is often misunderstood as just advertising or selling however it's much broader than that according to the American Marketing Association marketing is defined as the activity set of Institutions and processes for creating communicating delivering and exchanging offerings that have value for customers clients partners and Society at large in simpler terms marketing involves identifying customer needs and wants creating products or services that satisfy those needs and communicating their value to the customers and building strong customer relationships to capture value in return in modern times marketing has

evolved to Encompass not just selling products but also understanding consumer Behavior creating a compelling Brand Story and leveraging digital platforms to reach a broader audience marketers have the firmest finger on the pulse of your consumer persona for example take Apple for instance Apple's marketing strategy isn't just about selling products it's about creating an entire ecosystem in a brand that customers love they focus on Innovative product design memorable advertising campaigns and an exceptional retail experience history of marketing marketing has come a long way since the early 20th century let's take a quick journey through its history

early 1900s marketing was primarily about mass production and selling companies focused on producing large quantities of products and then finding ways to sell them 1950s to 1960s this area saw the rise of the marketing concept which emphasized understanding customer needs and creating products to meet those needs this shift was driven by increased competition and more Discerning consumers 1980s to 1990s the focus shifted to relationship marketing where businesses aimed to build long-term relationships with customers this period also saw the rise of branding and integrated marketing Communications 2000s to present the digital Revolution transformed marketing once again

with the Advent of the internet and social media marketers gain new tools to engage with customers and measure the effectiveness of their campaigns for example Coca-Cola's marketing campaigns over the decades illustrate this Evolution from its iconic Share a Coke campaign to its recent digital marketing initiatives Coca-Cola has continually adapted to changing marketing Landscapes second four Ps of marketing also called as marketing mix in the 1960s e Jerome McCarthy came up with the four Ps of marketing it's a fundamental Concept in marketing it involves four key elements product price place and promotion essentially these four Ps

explain how marketing interacts with each stage of the business one product a product is anything that can be offered to a market to satisfy a need or want this includes physical Goods Services experiences events persons places properties organizations information and ideas for example Tesla's product strategy focuses on Innovative electric vehicles with cuttingedge technology their commitment to sustainability and high performance sets them apart in the automotive industry two price price is the amount of money customers must pay to obtain the product it involves setting a price that customers are willing to pay while ensuring the company

can still make a profit for example Starbucks pricing strategy includes premium pricing customers are willing to pay more for Starbucks coffee because of the Brand's perceived value and the experience it offers three place place refers to the distribution channels used to deliver the product to the customers it involves selecting locations managing inventory and ensuring that products are available where and when customers want them for example Amazon's vast distribution Network and Prime delivery service ensure that customers can get a wide range of products delivered quickly to their doorstep four promotion promotion encompasses all the activities used

to communicate the product's value and persuade customers to buy it this includes advertising sales promotions public relations and personal selling for example Coca-Cola's holiday advertisements featuring the iconic Santa Claus and polar bears create a festive and emotional connection with customers driving sales during the holiday season the four C's of marketing in response to environmental and technological changes in marketing as well as criticisms towards the 4ps approach the four C's has emerged as a modern marketing mix model Robert F Lauder horn proposed a four C's classification in 1990 his classific a is a more consumer oriented

version of the four Ps that attempts to better fit the movement from Mass marketing to Niche marketing first consumer or client the consumer refers to the person or group that will acquire the product this aspect of the model focuses on fulfilling the wants or needs of the consumer second cost cost refers to what is exchanged in return for the product cost mainly consists of the monetary value of the product cost also refers to anything else the consumer must sacrifice to attain the product such as time or money spent on transportation to acquire the product third

convenience like place in the four peas model convenience refers to where the product will be sold this however not only refers to physical stores but also whether the product is available in person or online the convenience aspect emphasizes making it as easy as possible for the consumer to attain the product thus making them more likely to do so fourth communication like promotion in the four piece model communication refers to how consumers find out about a product unlike promotion communication not only refers to the one-way communication of advertising but also the two-way communication available through social

media third types of marketing strategies marketing comes in various forms each with its unique strategies and tools let's explore some of the most prominent types one traditional marketing while digital marketing is on the rise traditional marketing still plays a significant role especially for local businesses traditional marketing includes print advertising ads in newspapers magazines brochures and flyers broadcast advertising television and radio commercials direct mail sending promotional materials directly to customers via post postal mail telemarketing marketing products or Services over the phone Outdoor Advertising Billboards banners and other outdoor media for example local newspaper ads can be

highly effective for small business targeting a local audience they can reach a specific demographic and drive foot traffic to physical stores two digital marketing digital marketing encompasses a wide range of online activities it's all about reaching customers where they spend their time online digital marketing includes search engine optimization SEO improving website visibility on search engines content marketing creating and distributing valuable content to attract and engage an audience social media marketing using social media platforms to promote products and engage with customers email marketing sending targeted emails to prospects and customers payp per click PPC advertising paying

for ad clicks on search engines and other platforms influencer marketing partnering with influencers to promote products to their audience for example Nike social media campaigns are a great example of digital marketing they use platforms like Instagram and Twitter to engage with their audience share inspirational stories and promote their products three inbound marketing attraction drawing potential customers through relevant content and interactions engagement building relationships with prospects through personalized communication Delight ensuring customers have a positive experience to Foster loyalty and advocacy four outbound marketing cold calling reaching out to potential customers via phone direct sales personal selling

through face-to-face interactions event marketing hosting or participating in events to promote products or Services trade shows exhibiting at industry specific trade shows to reach a targeted audience five guerilla marketing guerilla marketing involves creative and unconventional tactics to promote a brand or product it's often low cost and relies on high energy and Imagination for example Burger King's Whopper detour campaign is a classic example they use Geo fencing technology to offer customers a Whopper for one sent if they ordered it while near at McDonald's this clever tactic drove significant traffic to their app and generated massive Buzz

six influencer marketing influencer marketing involves collaborating with individuals who have a significant following on social media or other platforms these influencers promote products or services to Their audience leveraging their trust and reach for example Fenty Beauty Rihanna's Cosmetics brand successfully uses influence incer marketing by partnering with beauty influencers and bloggers they quickly gain traction and built a loyal customer base each of these strategies can be tailored to fit the specific goals and audience of a business combining multiple strategies often results in a more comprehensive and effective marketing plan marketing channels marketing channels also known as

distribution channels refer to the pathways through which products or Services get from the producer to the consumer these channels play a crucial role in connecting the company with its customers and can vary based on the nature of the product target market and overall business strategy here are some common types of marketing channels direct channels indirect channels dual distribution online channels offline channels hybrid channels franchising telemarketing direct response marketing multi-channel distribution fourth benefits of marketing marketing offers numerous benefits for businesses consumers and the overall economy here are some of the key advantages benefits for businesses one

increased sales in Revenue effective marketing strategies help attract more customers leading to higher sales and increased Revenue two brand awareness and recognition marketing activities such as advertising and social media media campaigns enhance brand visibility and help establish a strong brand identity three customer acquisition and retention by reaching out to potential customers and maintaining relationships with existing ones marketing helps acquire and retain a loyal customer base four competitive Advantage strategic marketing can differentiate a business from its competitors highlighting unique selling points and value propositions five Market expansion marketing efforts can help businesses enter new markets reach

new customer segments and expand their geographical presence six customer insights through market research and feedback businesses gain valuable insights into customer preferences behaviors and Trends enabling them to make informed decisions seven product development marketing research helps identify gaps in the market and customer needs guided in the development of new products and services benefits to customers one information and awareness marketing informs customers about products services and new offerings helping them make informed purchasing decisions two better quality products and services competition driven by marketing efforts often leads to improved quality as businesses strive to meet customer expectations

three customer satisfaction marketing camp campaigns that focus on customer needs and preferences can enhance Satisfaction by ensuring that products and services align with what customers are looking for four personalization modern marketing techniques allow for personalized experiences making customers feel valued and understood benefits to the economy one economic growth increased business activity driven by marketing efforts contributes to overall economic growth and development two job creation the demand for marketing professionals and related Services creates employment opportunities in various sectors three consumer Choice marketing promotes competition leading to a wider variety of choices for consumers four Innovation and

development the need to stand out in the market encourages businesses to innovate driving technological and product advancements overall marketing plays a crucial role in the success and growth of businesses the satisfaction of customers and the health of the economy marketing is an Ever evolving field that plays a crucial role in the success of businesses and the satisfaction of consumers from understanding customer needs in creating valuable products to communicating their benefits and building lasting relationships marketing encompasses a wide range of activities and strategies in today's digital age staying updated with the latest trends and leveraging modern

marketing techniques is essential for businesses to thrive by understanding the core principles of marketing and adapting to the changing landscape companies can effectively reach their target audience build strong Brands and drive growth thank you for joining us on this journey to explore the world of marketing if you found this video informative please like share and subscribe to our channel for more insightful content and if you have any questions or topics you'd like us to cover let us know in the comments below until next time happy marketing