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 all, but depending on the amount of goods handled, there are wholesale 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 several 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 these methods in detail.
01) TRADITIONAL MARKETING
Traditional marketing refers to any type of promotion, advertisement or advertisement, which are generally used by businesses / commercial 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 definition of product-oriented marketing. The producer concentrates only on the products that do not take into consideration what they can produce / manufacture and the needs of the consumers.
The methods of traditional techniques include print advertising, such as newsletters, billboards, newspaper advertisements. Other forms are television advertising, advertising, by radio broadcasting on the product or service of any company.
NEED FOR DIGITAL MARKETING
As technology advances today, that demands change in everything. Digital marketing is part of computerization. Speaking for about 20 years ago, there were no computers, no cell phones, and of course no internet connection. But as technology grows, after a while, mobile phones and computers make their way into human life. After a while, internet facilities were introduced, sparking the digital revolution. Examples of digital marketing include websites, social media, emails are the most common. Digital marketing is similar to traditional but through the use of digital devices and information technology. It is a faster, more reliable and easier to find medium and therefore accepted worldwide.
02) DIGITAL MARKETING
Digital marketing is a broad term that refers to marketing through online mediums such as search engines, websites, social media, and emails.
Technical (last) digital marketing includes SEO (search engine optimization), SEM (search engine marketing), content marketing, campaign marketing, e-commerce 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 tracks their performance.
4) Every process being reliable, generates better income.
5) Digital media facilitate interaction with the target audience.
However, there are several process factors that affect a company’s ability to develop and maintain successful transactions and relationships with target customers. Generally, there are two types of environments within any organization. One is stable, it does not change over time and changes are very frequent. Second, the dynamic field that keeps changing according to 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.