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What is Marketing
- Marketing is Derived from the Latin word “Mercatus” which means Marketplace. Marketing is the process of identifying the customer’s needs and wants and delivering the products and services to satisfy their needs.
Role of Marketing in Day to Day Activities
- In the minds of commoners, marketing is all about selling products to customers. But, It happens with day to day actions of people.
- Communication, exploration, and delivery are some parts of marketing. But What they don’t know is the underlying factor behind sales which is time and emotions. For example, A beggar has his technique for making money. He is not just looking at you. Wondering how? Yes. He sells his own emotions. Because he knows emotions are an undeniable part of human life.
- Marketing commences once we enter this world. A newborn unaware of this world knows how to seek attention from the mother. It is what is called the purpose of advertisement in marketing. The role of marketing commences here.
Real Understanding of Marketing
- Marketing is not just a promotion or conveying information. It also explores, creates, and delivers the needs of the market. Our ancient past shows records of the barter system.
- A few years ago, people bought goods directly from the shop. Nowadays, buying and selling have become serene through online platforms like Amazon, Flipkart, Zomato, etc. So marketing reduces the physical gap between the market and customers. It gives the customer 24/7 facility to shop at their doorsteps. It is not only to buy a product but to raise queries about the dissatisfaction/ obstacles while owning a product or service.
- In this fast-moving world, we search for instant remedies to satisfy our daily needs. The field of marketing delivers the same on time. We can conclude that what we see, buy, and own are all the by-products of marketing. We see a movie, cry, have fun, buy popcorn, and move on. Here the movie is a product. The actors are raw materials. Theatre is a product. Popcorn, screen, and chairs are the raw materials.
Need for Marketing
- Marketers do not sell products but instead solutions in the name of saving time. Let us discuss the marketing needs. Sold is the Need, not the product. From morning to night, we make decisions about our daily needs. It includes questions like, where should I go? What should I buy? etc., these questions look very simple. But attracting people to sell answers to them becomes the real challenge in marketing.
- Take a situation, for example. A man standing on a highway during lunchtime finds a local shop on one side and a subway on the other. He will think of various factors like the quality of the food, trustworthiness of the shop, taste, cost, etc.
- Based on it, he will conclude. Here we see, Brand recognition and Brand awareness play a vital role in these decisions.
Upgradation of Marketing
- After the advent of social media, marketers make people talk about products and make advertisements. Understanding the demand of the customer becomes simple through the internet.
- If a customer requires something, he immediately searches for it. Surfing the internet has become common. So in the field of digital marketing, the marketer can easily catch the mindset of the people. It is possible by monitoring daily activities and searching history.
- These recent trends in marketing activity made the market function easy for marketers and customers.
History of Digital Marketing:
- The word “Digital Marketing” is used first time in 1990. In that digital age, Web 1.0 was used, it allowed the user to find and search their queries, but it was not sharable.
- The first clickable banner was live by Hot-wired in 1993. At this point, the marketing field was facing the digital era.
- In 1994, many new technologies entered the digital market. And the web Yahoo was launched in the same year by engineering students Jerry Yang and David Filo. Many companies tried to improve their SERP ranking after Yahoo hits 1 million hits.
- The introduction of cookies would be a great innovation that helps to track frequent users’ behavior and usage pattern.
- Many search engines like Alexa, LookSmart & HotBot launched in 1996. After two years, the search engine giant GOOGLE was introduced. In the same year, Microsoft introduced its MSN search engine.
- After the launching of Web 2.0, web users percentage got increased, which has the feature of interacting with users and businesses. There was massive growth in social networking. Companies started to understand that digital marketing opens up the opportunity to market its product. It helps companies to understand and analyze their customers better.
- Following that in 2002 a business-oriented professional network LinkedIn was created. With the help of LinkedIn, user can create their profiles to advance their career and skills. And create a connection with professional people.
- In 2003 WordPress (CMS) was launched as a platform to create a website. As well as Myspace is a social networking platform that allows users to create personalized web profile pages to connect with people.
- And finally, the famous social networking website Facebook was created in 2004.
- After a few years, technological growth leads to the innovations of WhatsApp, Instagram, Snapchat, etc.
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