Assignment 17: Marketing in the 21st Century

What is the definition of Marketing?

It refers to the responsible for the process of planning the activities of the company in relation to the price, promotion, distribution and sale of goods and services offered and these are accepted by customers, with a market segmentation that allows you to have a good reception of its products, to meet the needs and desires of customers and see the growth of the company so that it is very profitable, with good profits to allow it to continue investing in it and provide security to shareholders.

What is understood as Market in business?

It is the place where bidders and buyers meet and interact, where they exchange a product (good or service) in exchange for financial remuneration.

What is the purpose of Marketing?

It is in charge of designing, helping the implementation of clear objectives that companies have in order to comply with those proposed, is a study of this research.

Why is Marketing important?

Marketing must be of great importance for the healthy and optimal development of a product. This specialty bases a large part of its success on answering some questions that are simple but that must be answered with intelligence and experience. If those questions are solved correctly, they manage to maximize the possibilities of reaching the proposed goals. Through that methodology, a connection with the real plan is established that allows maximum use of human resources with materials, in each of the projects that are carried out.

What are the different types of Marketing? Define them in detail.

According to the article written by Clifford Chi for the HubsPot website, there are more than 40 types of market, but I chose these 20 types because they were the ones that seemed to me the most interesting for study.

• Traditional marketing refers to brand promotion on offline channels that were around before the rise of the internet. Think billboards, flyers, and radio spots.

• Outbound marketing refers to intrusive promotion, such as cold calling, email blasts to purchased lists, and print ads.

• Inbound marketing, on the other hand, is focused on attracting customers rather than interrupting them.

• Digital marketing is the opposite of traditional marketing, leveraging technology that didn't exist traditionally to reach audiences in new ways.

• Content marketing is a key instrument in inbound and digital marketing because it's one of the best ways to attract your target audiences.

• Social Media Marketing. With platforms like Facebook, Instagram, LinkedIn, and Twitter, brands can promote their business and engage with audiences on a more personal basis.

• Video Marketing. According to a 2021 Wyzowl study, 87% of marketers say using video in their marketing strategy has a positive ROI.

• Voice marketing is leveraging smart speakers like Amazon Alexa and Google Home to add value to your audience and answer questions about their topics of interest.

• Email marketing connects brands to leads, prospects and customers via email.

• Conversational marketing is the ability to have 1:1 conversations with your audience across multiple channels – meeting customers how, when, and where they want.

• Buzz marketing is a viral marketing strategy that leverages refreshingly creative content, interactive events, and community influencers to generate word-of-mouth marketing and anticipation for the product or service a brand is about to launch.

• Influencer marketing is designed to tap into an existing community of engaged followers on social media.

• Acquisition marketing focuses on the attract and convert phases to turn strangers into sales-qualified leads.

• Contextual marketing is targeting online users with different ads on websites and social media networks based on their online browsing behavior.

• Personalized marketing aims to create a tailored marketing experience for every user who comes across your brand.

• Stealth marketing occurs when brands promote their products or service to consumers who don’t realize they’re being marketed to.

• Guerrilla marketing is placing bold, clever brand activations in high-traffic physical locations to spread brand awareness.

• Native marketing occurs when brands customize their ads to fit the feel, look, and function of the platform on which they'll be published.

What are the aspects a marketer needs to consider nowadays? 

Currently, marketing could be considered a business monster because everything we consume is thanks to advertising or recommendations. The marketer must consider having a good marketing team as these will be the tasks to catapult the company so that its products can be sold. Social media is currently the largest market there can be, since most of the population is always aware of them and what is advertised there.

Chi, C. (2021, 9 november). 41 Types of Marketing Your Brand Can Invest In. HubsPot. https://blog.hubspot.com/marketing/marketing-types