Contemporary Issues In Marketing

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Societal Marketing Concept

• In this concept, companies aim profits while taking customer satisfaction into consideration in short term and human welfare in long term.

• So, there are three things that must be involved for a company to implement ‘Societal Marketing Concept’:a) Company (in terms of profit maximization)b) Consumers (in terms of wants and satisfaction)c) Society (in terms of human welfare)

Source: http://ba440.blogspot.in/

Social Marketing

• Social marketing is using marketing methods and marketing mix in order to solve social issues. Aim is to affect individual behavior in society showing proper ways in order to enable social welfare.

• Avon is an example that uses social marketing. They try to make women aware of breast cancer by selling products specific to that issue. These products involve pins, bracelets, books, cloth bags, and mobile phone apparels. The profits made by the sales are donated to a special fund which is lent to hospitals, foundations, etc.

Not-For-Profit Marketing

• Marketing is used for the not-for-profit organizations. Universities are example to such organizations, as they use advertising not to increase profits but to increase the number of students that prefer that university.

• Prathma Blood Bank is another example

Cause-Related Marketing

• In such marketing, a company and a nonprofit organization together start a marketing activity to draw people’s attention to an issue. Cause-related marketing provides benefit to both company and the organization.

• It is beneficial for the company because it creates a positive public image and it also increases sales of the brand. On the other hand, it is beneficial to the organization because they will be able to reach new sources of funds which they deprive of in most cases, and they will obtain greater visibility.

Sports Marketing

• “Sports marketing” is the use of marketing principles for or within the sports related environments.

• The main idea you can get from this definition is that, there are two dimensions of sports marketing:

• Marketing through sports. In such marketing, the marketed products are nonsports products but the channels used to reach the target market are sports-related. Master Card sponsorship and advertisements in The Champions League and The World Cup can be accepted as a well-known advertisement.

• Marketing of sports. This kind of marketing strategically aims marketing the pure sports goods to the target market. Continuing to the previous example, the advertisements of The Champions League or The World Cup through different media channels are good examples of marketing of sports.

Guerilla Marketing

• Guerilla Marketing is a form of marketing whose target markets exist in unexpected places; the product is marketed in a memorable and attractive manner.

• The aim of this marketing is to reach more people with a limited budget and a more effective message. Customers are shocked and surprised in guerilla marketing, so they can remember things that surprise them.

• Some key elements of guerilla marketing:

• Creativity• Unexpectedness• More with less

Viral (Buzz) Marketing

• Viral (Buzz) Marketing is marketing technique that encourages people to spread your message to others, to create difference in the short time. In viral marketing, the message quickly spreads like a virus from one person to another.

• You tell two friends, and then they tell two friends, because it is form of “word of mouth”. Social networks can play a key role in spreading your message. They can be very successful in reaching a large number of people rapidly.

Experiential Marketing

• Experiences occur when customer meets with a product and use it. They play a vital role while making the purchase decision.

• They provide greater interaction between firm and consumer. Firms focus on their customers with the help of the emotional appeals to affect their senses.

• Experiential marketing differs from traditional marketing in four ways:

• Experience of Customer• Focus on Consumption• Ecletic Methods• Rational and Emotional Animals

Marketing in the Digital Age

• Online marketing is the marketing of products and services via the Internet as its medium. In today’s global environment; to benefit from the new technologies, marketers should develop strategies which suit the Digital World.

• Types of Internet Usage Among Companies• “Brick-and-mortar company” operates in real life

only, uses Internet to provide information. Organizations like universities are example to this.

• “Click-and-mortar company” provide sales both in real life and through Internet. Vatan Computer is an example to this.

• “Click-only company” operates only online and you cannot contact in real life with such company. Idefix is an example to this, you can only buy those books online.

Search Engine Marketing

• With the increasing popularity of Google and such search engines, Search Engine Marketing concept is introduced.

• The concept is defined as a form of Internet marketing that seeks to promote websites by increasing their visibility in search engine result pages through the use of search engine optimization. It provides increased visibility for the companies for the reason that whenever people have a question on their minds, they ask Google.

Tourism Marketing

• Tourism Marketing is the managerial process of anticipating and satisfying existing and potential visitors’ wants more effectively then competitive suppliers or destinations.

• The management of exchange is driven by profit, community gain, or both; either way long-term success depends on a satisfactory interaction between consumer and supplier. It also means securing environmental and societal needs as wee as core consumer satisfaction. They can no longer be regarded as mutually exclusive.

Personal Branding

“Your personal brand is the powerful, clear, positive idea that comes to mind whenever other people think of you.

It’s what you stand for – the values, abilities and actions that others associate with you.

It’s a professional alter ego designed for the purpose of influencing how others perceive you, and turning that perception into opportunity.”

Peter Montoya Personal Branding Guru

7 Secrets To Building A CompellingPersonal Brand

1. Have a clear vision.

2. Create a strong offering.

3. Be a personality to remember.

4. Know your target audience.

5. Presentation, presentation, presentation.

6. Deliver what you promise.

7. Leave room to expand.8. Use new media like websites, blogs, LinkedIn Profiles, other

social media profiles to create content that defines you as a professional

9. Update and engage with your target audiences regularly

Thank You

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