teaching-online-a-paradigm-shift

Marketing – The Evergreen Marketing Specialization

Marketing is the operation, collection of organisations, and processes for developing, interacting, distributing, and sharing value-added services for consumers, companies, partners, and society as a whole.

Types of Marketing

Influencer Marketing

Influencer marketing, according to the Association of National Advertisers (ANA), focuses on exploiting individuals that have control over potential customers and orienting marketing campaigns around them to drive a brand message to a broader market.

Viral Marketing

Viral marketing is a form of marketing that allows and encourages people to spread a marketing message to others. Since the number of people exposed to a message resembles the method of spreading a virus or disease from one person to another, it's been dubbed "viral." 1st

Green Marketing

The production and promotion of goods that are believed to be environmentally friendly is referred to as green marketing (i.e., designed to minimise negative effects on the physical environment or to improve its quality).

Scarcity Marketing

Scarcity marketing creates a perception of a shortage which aims to entice customers to purchase out of fear that they may not be able to get it in the future.

Relationship Marketing

Relationship marketing focuses on customer retention and satisfaction in order to enhance your relationships with existing customers to increase loyalty.

Cause Marketing

Cause marketing, also known as cause-related marketing, links a company and its products and services to a social cause or issue.

Evolution of Marketing – Production Era, Sales Era, and Marketing Era

Marketing is almost everywhere in today's free-market economies, which is a significant improvement from a few decades ago. In the early 1900s, marketing became a distinct discipline, but it had little effect on most businesses. On their way to being marketing-oriented, several companies went through various stages.

The Production Era:

The eighteenth-century Industrial Revolution marked the start of the manufacturing age, which lasted until the late 1920s. Companies concentrated on the production process during this period. They searched for ways to make their products more quickly and effectively.

In many industries during the manufacturing period, there were sellers' markets, which meant that demand for goods outpaced supply. Manufacturers could concentrate on production during this period because demand was guaranteed. The demand for their goods was so high that they had to streamline manufacturing processes just to keep up with it.

The Sales Era:

The sales period, which lasted from the 1930s to the 1950s, came after the manufacturing era. Manufacturers claimed that outselling the market was the key to business success during the sales period. They didn't think, "What does the consumer want?" but rather, "How can we get them to buy what we make?"

During the sales era, companies focused on product marketing, much as they sought to develop manufacturing methods during the development era. Firms built direct sales forces and partnerships with distributors and other companies that could help them get their goods into the market. During this time, advertising took on a whole new meaning.

The Marketing Era:

The 1950s marked the beginning of the marketing age, when businesses started to use marketing in its present form. Early in the century, the invention of efficient manufacturing methods laid the foundations for abundant supplies of most items.

In certain cases, supply outstripped demand, resulting in a sellers' market. To thrive in a buyers' market, you'll need to do more than just construct stuff. The strategy for achieving market success moved away from forcing goods on consumers and toward determining what buyers needed and then meeting the need. During the marketing period, rather than the manufacturer's targets, as in the previous two periods, the emphasis was on the needs and wishes of the consumers.

Marketing Career Specializations

Marketing Research

Market analysts examine data and feedback into a company's target demographic, customers, and rivals firsthand. They'll be able to ask questions about how goods and messages stand out to consumers and members of a target group, as well as create marketing plans for the future.

Content Marketing

Content marketers compose and produce consumable content, which can be visual, written, video, or audio in nature. This is about more than just endorsing and selling a product. Content is promoted as a way to increase positive feelings about a brand, gain brand authority in a specific niche, and entertain target audiences.

Digital Marketing

Digital marketers are responsible for a wide variety of tasks, including increasing brand recognition and driving conversions across various digital platforms. Marketing techniques from a range of marketing specialisations are used in their job: marketing analysis, content design, and so on. Back-end and front-end website growth, social media, search engine optimization, email marketing, and advertisement are all areas that digital marketers can help.

SEO Marketing

SEO (Search Engine Optimization) is a (Search Engine Optimization) Marketers, also known as SEM (Search Engine Marketers), are in charge of using analytics and back-end website creation strategies to boost the visibility of websites in search results. This includes organic growth strategies as well as ad-supported paid-search traffic. Since search engines are constantly evolving, SEO marketers must keep up with the latest keyword patterns and be able to adapt to new strategies.

Social Media Marketing

Digital and content marketers who specialise in all things social are known as social media marketers. Their responsibilities can include designing graphics and content for social media platforms, as well as tracking success and communicating with consumers and increasing brand recognition. Since there are a lot of social media, some are more useful than others depending on the niche and target audience, this looks different for different companies. Twitter, Instagram, Pinterest, Facebook, and even Tik Tok profiles are used by social media marketers.

Email Marketing

The term "email marketer" refers to a class of digital and content marketers who specialise in sending targeted emails. They create email content for new product releases, promotional deals, and newsletter content to send to contacts. They assess the efficacy of email as a marketing medium and respond to new innovative ways to engage users with personalised messaging.

Product Marketing

Brand marketers are mainly concerned with bringing a product to market in a strategic manner. Their work entails fine-tuning product positioning, messaging, pricing, and store and online placements. They take the information gathered by market researchers and turn it into strategies that can be implemented. Brand marketers collaborate closely with market analysts to gain a thorough understanding of a product before it is launched, as well as how to re-target and re-market it as needed afterward.

Brand Manager

Market analysts and brand managers are similar in that they both concentrate on the overall look, sound, and emotional reaction to a brand. This role focuses on identifying target markets and determining how to effectively cater to them. They must be innovative and adaptable to evolving patterns, as well as empathic and knowledgeable about human nature. Brand managers ensure that a product, business, or service resonates with customers.

Advertising Manager

Advertising managers are in charge of all aspects of advertising campaigns. Advertising campaigns for business goods and services are guided, created, and targeted by them. They collaborate with people from various departments to condense research on a product, the target market, and how to generate leads and conversions.

E-Commerce Manager

E-Commerce Managers are in charge of all online transactions. They oversee how goods and services are presented online in order to increase transactions and ensure that websites are operational so that sales can proceed smoothly. They keep track of web traffic and missed conversions, as well as collaborate with Market Researchers and Product Marketers to ensure that technology-based revenues are up to par

Lloyd Business School is a B-School that provides opportunistic platform for all budding marketers in evergreen marketing Specialisations in various PGDM and MBA Specialisations.

Shubham Aggarwal
Assistant Professor | Marketing, Strategy & Economics