Traditionally, the term “market” refers to the place where buyers and sellers meet to exchange goods and services. Market is the very common term, known to everyone, but depending on the amount of goods handled, there are wholesale markets and retail markets.
In the sense of the modern concept, the term “market” has a broader meaning. It refers to the sets/collection of actual or potential buyers of products and services.
There are various categories of marketing but there are two main segments, the first is traditional marketing and the second is digital marketing. In this article, we will discuss about these methods in detail.
01) TRADITIONAL MARKETING
Traditional marketing refers to any type of promotion, advertisement or publicity, which are generally used by the companies/business entities for a longer period, and which has a proven success rate.
In ancient times, marketing was defined as the flow of goods and services from producers to consumers. This is a product-oriented definition of marketing. The producer concentrates only on the products that he can produce/manufacture, and the needs of the consumers are not taken into account.
Traditional art methods include print advertisements such as newsletters, billboards, newspaper advertisements. Other ways are television, commercials, advertising broadcasting about the product or service of any company.
NEED FOR DIGITAL MARKETING
As technology advances today, that demands change in everything. Digital marketing is a part of computerization. Talking about 20 years ago, there were no computers, no mobile phones, and of course no internet connection. But as the technology grows, after a while, mobile phones and computers come into the life of human being. After some more time, internet facilities were introduced, bringing about the digital revolution. Examples of digital marketing include websites, social media, and emails are the most common. Digital marketing is similar to traditional marketing but using digital devices and information technology. It is faster, more reliable and easier to find and therefore accepted worldwide.
02) DIGITAL MARKETING
Digital marketing is a broad term that refers to marketing through online media such as search engines, websites, social networks, and emails.
Digital marketing techniques (latest) include SEO (Search Engine Optimization), SEM (Search Engine Marketing), Content Marketing, Campaign Marketing, Ecommerce Marketing, and Social Media Marketing.
There are several reasons for the growth of digital marketing.
1) Digital marketing techniques are more profitable than the traditional concept.
2) Digital process faster than the previous one, therefore results-oriented.
3) Any individual/company keeps track of their performance.
4) Every process being reliable, generates better income.
5) Digital media facilitate interaction with the target audience.
However, there are several factors that affect the process of the company’s ability to develop and maintain successful transactions and relationships with target customers. There are generally two types of environment within any organization. One is stable, it does not change over time and the changes are very frequent. Second, the dynamic field that keeps changing based on demand.
To run a successful business, whether old or new, it is necessary to pay due attention to choosing the right consumers, building the audience and developing the superior value of the service/products.