Marketing Simplified!

Only a genius can come up with something so insightful and interesting. Whoever came up with this must have had a tough time studying marketing or must have loved it dearly. A friend sent this to me as an e-mail.  Sharing it with you all. Enjoy!

You see a gorgeous girl at a party.
You go up to her and say, “I’m very rich. Marry me.”
That is Direct Marketing.

You are at a party with a bunch of friends and see a gorgeous girl.
One of your friends goes up to her and says, “He is a very rich man. Marry him.”
That is Advertising.

You see a gorgeous girl at a party.
You go up to her and get her telephone number.
The next day you call her and say, “Hi! I’m very rich. Marry me.”
That is Telemarketing.

You are at a party and see a gorgeous girl.
You get up and straighten your tie. You walk up to her and pour her a drink.
You open the door for her. Pick up her bag after she drops it.
Offer her a ride home and then say, “By the way, I am very rich. Will you marry me?”
That is Public Relation.

You are at a party and see a gorgeous girl.
She walks up to you and says, “You are very rich…”
That is Brand Recognition.

You see a gorgeous girl at a party.
You go up to her and say, “I’m very rich. Marry me!”
She gives you a nice hard slap on your face.
That is Customer Feedback.

You see a gorgeous girl at a party.
You go up to her and say, “I’m very rich. Marry me!”
She introduces you to her husband.
That is Demand and Supply Gap.

You see a gorgeous girl at a party.
You go up to her and say, “I’m very rich. Marry me!”
She turns her face towards you ----------- She is your wife.
That is Competition Eating into your Market Share.

P.S. – This will be very helpful to all the Marketing Beginners. :)

Advertising v/s Marketing : What's The Difference?

Advertising and marketing are both very different yet very essential components required for an organization to grow. Identifying the difference and practicing them well can put your company on the path to substantial growth. Often people confuse marketing and advertising.

Let’s look at the basic definitions of Advertising and Marketing.
Advertising : Advertising is bringing a product (or service) to the attention of potential and current customers. Advertising is focused on one particular product or service. Advertising is typically done with signs, brochures, commercials, direct mailings or e-mail messages, personal contact, etc.

Marketing : Marketing is the wide range of activities involved in making sure that you're continuing to meet the needs of your customers and getting value in return. Marketing is usually focused on one product or service. Marketing activities include "inbound marketing," such as market research to find out, for example, what groups of potential customers exist, what their needs are, which of those needs you can meet, how you should meet them, etc.

Now after going through these definitions it is easy to comprehend how the difference between advertising and marketing can be puzzling to the point that people think of them as one-in-the same. So let’s try and break it down a little bit.

Advertising is a part of marketing. It is a subset of marketing. Advertising includes planning strategies like which media to use. Should it be done through television, radio, billboards etc. It is mainly used to inform the target audience about a certain product or service. It tells them the products or service's advantages and benefits for them to be cajoled to buy the product. Advertising is the most expensive aspect of marketing process.

Marketing is a process that takes time, and can take days to research to make it effective. Marketing includes all the pricing, distribution, sales strategy, market research, media planning, and customer support, etc. all these components must be arranged and put into practice to achieve the best result possible.

Several times I’ve seen marketing to be considered as the big pie and advertising along with research, planning etc. as just a slice of that pie.

Basically, the main goal of both is to enhance consumer awareness.

Social Media - The Next Big Thing!

Social media is emerging and developing at a very fast pace. But SMM is a supplement and not a substitute. You cannot take it as a career opportunity but you can surely use it as a tool to boost your career. It is, in short, having an interaction. Have an interaction with your consumers because at the end of the day it’s all about benefiting your consumer and earning profit. It’s about having a dialogue rather than having a monologue. And what could be a better option than our Social Media. The most powerful tool at present. To put this in the shortest possible manner; it’s a three step process :

• Direction
• Objective
• Improving lifestyle of the consumers

Know your direction. Be sure where you want to go. Then be clear with your objective. Target your audience. Do not lose your focus. And then the most important step of all... to improve the lifestyle of your consumer. Always remember 'Consumer is GOD'. It’s all about His benefit. If your product or service is not good then this hits you bad very badly. So be very sure of your product and the service that you are rendering.

But remember don't try to be everything to everyone. You'll end up being nothing to no one. Choose your segment. Choose your people.

Segment --> Position --> Attack!

And as I have already mentioned earlier, Social Media is a supplement and not a substitute. Integrate it with other media vehicles. Conventional media is equally important. Maintain a balance. Be responsive. As i said earlier, have a dialogue instead of a monologue. Be consistence. Interact with your consumers. But in all this process do not lose sight of the product. Read your consumers regularly. Remember...the need of the consumer is your need.

Having said that, one of the questions that arise is why does one use Social Media?
Ask yourself. The answer lies within you. Why do 'You' use Social Media?

• To keep in touch with your loved ones.
• To make new friends and know people.
• Peer pressure - if your friends are using it then it becomes mandatory for us also to be a part of it.
• To get validation.
• Displaying. Humans have this tendency to 'show off'. They want others to know what they can do.
• Creativity - again human tendency to 'show off' their talent to the world.

These are some of the reasons I got, which led me to the other question : How should one do it? The answer to this question is clear. One can do this through :

• Blogs
• Tagging
• Wikis (Wikipedia)
• RSS
• Rating and Reviews
• Social networking Sites (Facebook, twitter, etc...)
• Forums and Message boards.

These are your tools. This is what Social Media is all about. Now all depends on how you use these tools for your benefit. Remember, it’s all about consumers. Earn the trust of your consumers and you will earn profit. It’s a give and take process. You give your consumers what they want and they will give you what you want!

Consumers trust consumers. 78% consumers trust peer recommendations. 14% trust advertisements. Humans have this tendency to share. They like sharing. So create sharable stuff. Remember, your brand is what your consumer says it is.

Social Media is very important in today's time and it will be the most powerful tool in the coming years. A famous person has said, "By the time there is a case study in your specific industry, it is going to be way too late for you to catch up."

It is a slow process but the results are very powerful. As they say, 'slow and steady wins the race'. It’s exactly the same. To be successful in this field, follow these simple steps:

• Choose your people. Choose your segment. Know your Consumers.
• Be very clear with your goal. What is your main purpose? Have a clear target in your mind.
• Then plan a strategy to influence your consumers.
• And then the most important of all is The process. As I mentioned earlier, the process is slow but the results are powerful.
• Be consistent. Commit. It’s not about shopping...it’s about conversation.

You have to learn to listen before you talk. It’s about creating 'show-able' content. Your users are also your content distributors. It’s not a campaign. It’s a process that will eventually evolve into a culture. It is a part of Integrated Marketing. It has to align with your other communication channels. Once you start, there is no going back. Be patient. Take baby steps. Be consistent.

It’s like lighting up a forest with a match stick. And as Baba Ranchoddas says “Pursue excellence, and success will follow, pants down.”