The Complete Beginner’s Guide to fundamental of Marketing and Personal Branding

This article is part of the Digital Deepak Internship Program and here I’m telling you about the Fundamentals of Marketing and Personal Branding.

So let’s being with some of the fundamentals of marketing.

1) Marketing starts before creating the production. It starts with understanding the consumer and consumer needs that lead to creating a product that fits him/her.

2) Marketing is just not about selling products, but it is also about keeping the existing coustomers happy by communicating with them; so that they remain consumers for life.

3) The purpose of marketing is to build a brand and capture a position in the minds of the consumers.

4) Marketing is a game of perception. The product is rooted in reality, so never let marketing become more important than the product.

Examples: How many times have you said if you could make a “Xerox” copy? Or get a “Kleenex”? Or buy a “Coke”? Even if the machine is clearly not a Xerox, the tissue paper just a generic brand, and the soda, not Coca-Cola, the brand sticks in your mind as it GOT THERE FIRST?

Now let’s dig deeper to understand more about the fundamentals of marketing.

  1. The Four Ps of Marketing.

In the late 20th century, marketing thought leaders developed the concept of the “Marketing Mix,” a set of concepts and tools that help companies achieve their objectives within a market. At the core of this model are the four Ps:

· Product: What are you selling? A shiny new business widget? A hand-crafted luxury item? Chicken tacos? Whatever it is, you’ll need to think about how to package or present it. Marketers should be familiar with all the features and specifications of the products they sell.

· Price: To determine how much your product should cost, you’ll need to do some research. Learn how your competitors price their offerings, and understand how much consumers are willing to pay.

· Promotion: These days, marketers have many channels through which they promote their products. From radio ads to social media banners, you’ll need to decide which are right for your brand.

· Place: Your customers need to be able to find and purchase your product. Can they buy your product online? Do they need to visit a store? Additionally, you’ll need to consider how much inventory to hold and where to keep it. These days, inbound marketing strategies rely on engaging content to bring customers to you (or your website).

2. Reaching your target audience

You probably have some idea about who your target consumers are and why they might be interested in your product. If you’re selling a piece of accounting software, you know that your target buyer doesn’t want to spend hours every week making calculations by hand.

These organizations toss digital content into the abyss of the internet without ever measuring their results or thinking about how to do better.

In other words, to be better than 45% of your competition, you need to conduct market research (read industry reports, monitor trends, engage your buyers in conversation) and then build a marketing plan based on the insights you reveal.

By doing so, you can determine which channels are best for marketing your offerings. Eventually, website analytics can show help you tweak your strategy until it’s perfect.

3. Staying up-to-date with the latest marketing trends

A good marketer never stops learning.

Though the fundamentals of marketing may remain steady over time, the specific strategies businesses deploy are affected by a number of factors, such as:

· Changing consumer demographics: Younger generations of people may respond to different appeals, compared with older generations. Customer opinions can greatly influence your content strategy.

· Emerging technology: Mobile devices, voice search and other developments offer new ways for marketers to reach their customers.

· Fluctuating market conditions: The global economy is in constant flux; what was affordable to consumers yesterday may be out of reach tomorrow.

Cultural shifts: Political and social movements shape the way consumers view companies and their offerings.

How do you forecast these changes? They can shift gradually over long periods of time, especially in the case of technology adoption. You can’t just put a finger to the wind and determine what the next trend will be.

That’s when you turn to expert advice. Blogs are a great place to start. Those of us embedded in the world of marketing every day share our experiences, analyze reports, and make educated predictions about the future of marketing.

Let's know more about how it differs from each other.

· Digital Vs Traditional Marketing

1) What is Traditional Marketing?

Traditional marketing is nothing new as it’s a form of marketing that we have been exposed to at one point or another. It is a convenient mode of marketing that helps to reach out to a semi-targeted audience with various offline advertising and promotional methods.

Traditional marketing is hard to ignore and includes the traditional ads we encounter on a daily basis. Many of the common and most tried offline marketing tactics come under the following five major categories:

  1. Print (magazines, newspapers, etc.)
  2. Broadcast (TV, radio, etc.)
  3. Direct Mail (catalogs, postcards, etc.)
  4. Telephone (telemarketing, SMS marketing, etc.)
  5. Outdoor (billboards, flyers, etc.)

Traditional marketing may have evolved over the past few decades, but the fundamental aspects remain the same.

2) What is Digital marketing:

Digital marketing or online marketing refers to the market-related work that a business does through the Internet or an electronic device such as a mobile phone. Any business (regardless of its size) can leverage digital marketing to reach out to their target market, connect with prospects, and convert more of them into customers/clients. Everything from search engine marketing (SEO) to Facebook marketing comes under digital marketing.

The reason why digital marketing is crucial for a business today is that the Internet is becoming one of the most used tools. More and more people are logging on the web to carry out their day to day activities, which includes purchasing goods and services.

MODES OF MARKETING

1) CATT Marketing Funnel

The CATT Funnel

Let me tell you what CATT basically stands for,

C for Content.

A for Attention.

T for Trust, and

T for Transaction.

This is the most used funnel method in marketing online to drive sales to an online business.

Before following the CATT funnel, you need to choose a niche, as your success & wealth depend on the niche you choose.

“Choosing the right Niche is half battle Won”

How CATT works?

Wealth = N” CATT

(n) Niche: Your success and wealth depend on the niche you choose.

Ø CREATE: Create useful content that attracts people from your niche, Eg. blogs, posts, Videos, Lead magnets, etc.

Ø ATTENTION: Drive attention (i.e. Traffic) to your content using digital marketing tools such as SEO, Social Media, Paid Ads, and Referrals.

Ø TRUST: Build trust with your audience with marketing automation and retargeting.

Ø TRANSACTION: Convert your leads into customers with natural sales methods.

2) INTEGRATED MARKETING

Integrated Marketing is an approach to creating a unified and seamless experience for consumers to interact with the brand/enterprise; it attempts to meld all aspects of marketing communication such as advertising, sales promotion, public relations, direct marketing, and social media, through their respective mix of tactics, methods, channels, media, and activities, so that all work together as a unified force. It is a process designed to ensure that all messaging and communications strategies are consistent across all channels and are centered on the customer.

3) PERSONAL BRANDING

Personal branding is the practice of marketing people and their careers as brands. It is an ongoing process of developing and maintaining a reputation and impression of an individual, group, or organization.

Whereas some self-help practices focus on self-improvement, personal branding defines success as a form of self-packaging. Your personal brand is how you promote yourself.

It is the unique combination of skills, experience, and personality that you want your followers to see.

It is the telling of your story, and the impression people gain from your online reputation.

Few Example of Personal brand from around the World :

Tony Robbins: Motivational speaker, coach, Mentor

Elon Musk : Tesla, SpaceX

Jeff Bezos : Amazon

Let’s understand with a Mass Trust Blueprint.

· LEARN: Learn a new skill through concepts, facts, and procedures and understand the concept.

· WORK: Put your new-found skill to work, go from practice to implement. Implementing will give you a better understanding.

· BLOG: Write about what you have learned and about your work experience.

· CONSULT: Once you have your personal blog ready and have good working experience and also you have learned fundamentals, you should start consulting for other businesses.

· MENTOR: Mentor others who want to be like you. Mentoring helps you scale your learning to a whole new level.

· STARTUP: Start your own service or product business.

I hope that you enjoyed reading this article.

What do you think that this article is informative for you or not?

Please comment below with your views about this article.

Your feedback is very useful for me to improve myself.

NLP Practioner, Digital Deepak Intern,