How Marketing Branding Economics Could Get On Today Show
By: Diya Deb Chowdhury
Tags: Branding, Marketing, Economics, Digital Marketing, Personal Branding

In today's competitive world the term marketing is quite popular it plays an important key role in the success of any business. So in this article, I am going to cover different aspects of marketing and what is marketing? How it has proved its importance to every organization?

I believe that marketing is about communicating the value of the product or service to the buyers in the consumer market. when I start observing my surroundings marketing is everywhere. At first, the marketing individuals do the research & take the viewpoints of the consumers, and then chalk out the plan for following the effective technique of marketing of the products & services. The job of these individuals does not end here; they have to take notes about the reaction of the consumers while marketing the launched product & services.

“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” — American Marketing Association.

A business cannot take place without the consumers who buy the goods from the sellers. Thus, consumers are a very vital part of any business & are given special importance by the companies. Marketing is a complex & elaborate process needed for every business.

The Fundamentals of Marketing.

Understanding the Marketing and the 4 P’s of Marketing. At its core, for all its complexity, marketing revolves around four things: product, price, promotion, and place. Tactics and channels change, but these are the concepts everything else revolves around, and they’re principles that never change.

What is the law of Marketing?

Marketing is based on science. not on creativity.it starts before creating the product it starts with understanding the customer and customer’s needs that leads to creating a product that fits. Marketing is about sending the right message, to the right person at the right time. I believe that many marketers try to portray marketing as art when they can’t measure their results. Hence they give up responsibility for their marketing programs. They suggest that marketing is all chance. Many self-declared branding experts talk about the art of branding and refuse to face the Science of measurement.

Advertising is one of the components of marketing, whether it is online or offline, and also copywriting is also one of the components of marketing. You need a great product, but marketing not just helps people discover the product, but also has a good perception of the product.

Building a strong brand

A brand is one of those words that gets tossed around so frequently, that the actual meaning of what branding is can seem uncertain. We all know that branding is something that we have to do for our business, but what does that entail? So we’ll take a deep dive into some of the many ways that you can think about branding, and how to use it to do things like define your business and speak with more clarity to your customers.

Many small business owners understand that branding is essential to their business, but a surprisingly high number of them don’t know why.

They recognize the link between successful businesses and strong branding and aspire to build a brand that creates similar success for themselves. And they understand that branding is not just a logo or how their business is perceived externally. But too few realize that successful brands have this branding at the heart of the business. So much so that in many ways you could almost substitute the word brand for business.

What is a Personal Brand?

“A personal brand is something that people say about your experience and skills, praise about them and recommend everyone, for example, David Goggins is a powerful personal brand in the niche of motivational speakers across the globe.

As there is a downside of a personal brand that it cannot be invested in nor sold but the advantage of having a strong personal brand will help us in our current job, achieve more, stand out from the crowd.

The evolution of a personal brand:

learn: Learn a new skill through concept, facts, and products and remember it for future use.

Work: Put your newfound skills to work. Go from practice to implementation. Implementing it in the real world will give you a better understanding.

Blog: Write about what you have learned. It will make understand better and also it will start building your branding.

Consult: Now that you have a personal brand through your blog have work experience.

Mentor: Mentor others who want to become like you.

Startup: Start your product or services business with the understanding of your skills

Global Economics and Marketing

Every entrepreneur should learn about global economics. make decisions in business based on economics. A country’s economy goes up as the average age of the country goes up. debts creates money and recession creates strong companies and drives out the weak companies from the market.

Digital Marketing vs Traditional Marketing:

Traditional marketing includes any type of promotion through several conventional forms such as:

TV Ads can reach millions at a low cost for example ad on a mac book, which inspires people to purchase, print media (newspaper), and radio ads. In traditional marketing, there is less chance of interaction between the medium used and the customers. Moreover, it’s also not that easy to measure results through traditional marketing strategies, leading to issues.

So, what’s the solution?

luckily, we have digital marketing which includes blogging on various niches, websites, SEO, video marketing, online ads, and much more which will become very easy to interact with customer and it is also more cost-effective than traditional marketing

Integrated Digital Marketing

Integrated Digital Marketing encompasses the idea of creating a unique form of expression that’s easy to identify in all of the channels your customer uses.

It’s like using a single language to speak in different situations.

That means it’s a strategy that blends all your marketing tactics. Then, each campaign and approach complement the other, creating a consistent image on the mind of the users and tracing a journey for them to go on.

By being consistent, you can become memorable to your audience.

Four-step framework to design a successful integrated digital marketing campaign.

Identify your target customers: Define your target customers and get an insight into their buying behavior through historical and real-time data. This will give you an idea of which marketing channel is best to communicate your brand message to them.

Select your marketing channel(s): Every marketing channel, whether digital or traditional, has its pros and cons. But, do keep in mind that there is room for every channel if you want to create an integrated digital marketing campaign. Depending on your target audience, shortlist the channels that drive the maximum performance and impact for your brand.

Create consistent communication: When you communicate across a channel, ensure that it has a consistent brand message.

Measure what you implement: You should know what is your email open rate, click-through rates on your website, or the number of shares of your Facebook post, you wouldn’t be able to determine the impact of your campaign and what corrective or preventive actions you need to take.

The Important of Communication Skills

Having strong communication skills aids in all aspects of life — from professional life to personal life and everything that falls in between. From a business standpoint, all transactions result from communication. Good communication skills are essential to allow others and yourself to understand information more accurately and quickly.

A good market is all about good communication. it doesn’t mean sophisticated English. Good communication doesn’t care about vocabulary or grammar. We can watch standup comedy shows and sitcoms like Brooklyn nine nine etc, for better communication.

Marketing communication helps move products, services, and ideas from manufacturers to end-users and builds and maintains relationships with customers, prospects, and other important stakeholders in the company. Communication is vital to marketing because it brings everyone on the same page. Listening to your clients enables you to come up with long-lasting solutions to solve their needs.

CATT Marketing Funnel

CATT marketing funnel describes the cycle of complete marketing lifecycle from building a product to selling it to target customer. And it keeps repeating.CATT funnel is based on your niche. The more you know about your niche the more wealth you can generate.

Wealth = n^CATT

[ n ] Niche: Your success and wealth depends on the niche you choose

] Niche: Your success and wealth depends on the niche you choose [ C ] Content: Based on your niche, you can create content that helps, inspire, and attracts people like a blog, posts, videos, live webinar, etc.

] Content: Based on your niche, you can create content that helps, inspire, and attracts people like a blog, posts, videos, live webinar, etc. [ A ] Attention: To get high traffic from content through using SEO, social media, marketing paid ads, SEM, etc.

] Attention: To get high traffic from content through using SEO, social media, marketing paid ads, SEM, etc. [ T ] Trust: Build trust among audiences by marketing, ads, retargeting.

] Trust: Build trust among audiences by marketing, ads, retargeting. [T] Transaction: Convert your leads into customers with natural sales methods.

here you go!

hope you learned something you did not know. Also if you have any questions at all please, ask. I will make sure to answer every one of them.

This is a part of digitaldeepak’s internship program.