Topic 1 Understanding different types of marketing

What is marketing?

  • Marketing refers to the activities carried out by a business to promote their product or services online or traditionally.
  • The purpose of marketing is to create awareness of products or services to attract customers.
  • It is not possible for a business to survive without marketing, which has evolved as technology has developed over the years. At one time, marketing primarily consisted of printed materials such as brochures, leaflets, and posters, but now encompasses radio, television, and the online world.
  • The development of the internet and World Wide Web has had a profound impact on marketing as people now spend much more time online that they do listening to the radio or watching television.
  • Therefore, most businesses now put more resources into online marketing than offline marketing although a mixture of the two usually helps achieve the best overall results.
  • Marketing can be free or paid for. For example, free forms of marketing include blogs, email shots and Facebook pages while advertising is an example of paid for marketing, whether this is print adverts in newspapers or magazines or adverts targeting specific audiences on platforms such as Facebook.

Why is marketing important?

Marketing drives customers to your products or services. Without it, potential customers are unaware of the products or services you offer and, without reaching your ideal customers, you’re likely to be missing opportunities to generate revenue. Here are some reasons why marketing is important to your business:

  • Offers your company the opportunity to share your brand’s vision, mission, and values.
  • Improves customer relationships.
  • Motivates and inspires audiences to share your products or services.
  • Provides the ability to develop a highly individualised customer base.
  • Ensures your company stays relevant and connected to your customer base.

What are different types of marketing?

There are many different types of marketing, both free and paid for. Here are examples of five ways to market your company online and five ways to market it offline:

Examples of digital online marketing:

  • Content marketing – e.g. create an online blog for your company.
  • Social media marketing – e.g. use Twitter, Facebook, Instagram etc to promote your company.
  • Search engine marketing – e.g. research keywords for your industry and put them on your webpage.
  • Email marketing – e.g. produce a monthly newsletter and ask customers to subscribe.
  • Online advertising – e.g. pay for Google or Facebook advertisements.

Examples of offline marketing

  • Word of mouth marketing – e.g. ask satisfied customers to spread the word.
  • Offline advertising – e.g. pay for adverts in local newspapers/magazines etc.
  • Direct mail marketing – e.g. send mail shots to previous customers.
  • Guerrilla marketing – e.g. create an immersive pop-up experience in a public location.
  • Partnership marketing – e.g. join forces with a partner business to cross promote.