To exploit best Marketing Secrets, first step is to understand the definition of marketing and then break it down.
What is the definition of the word Marketing?
Marketing is to identify, anticipate and to satisfy the customer needs in a profitable way(Obviously!)
There are 5 important words in the definition of Marketing. Let’s divide those words separately and understand each of them. The most focus word is customer needs. Everything you do is to finally satisfy the customer.
Identify – To understand what exactly is the need of the customer. We cannot sell chocolates if the customer is particularly needing a biscuit. So, first step in marketing is identification of the customer needs. This is the biggest secret of marketing in the loop. Example, Gillette has identified the needs of Indian market and customized their razors so as to suit Indian needs.
Anticipate – Every time we cannot wait to sit back and relax to understand the customer’s need. We have to sometimes be the market leader and predict what will customer have in the future. Example, Kotak has anticipated that people will absolutely love capturing the best moments of their lives and save it for their life time in the form of pictures. Hence, we have cameras today. (Of course they could not predict the evolution of digital cameras leading to their death but that’s a topic for tomorrow! ). I have written an answer on why a company needs to anticipate and be a market leader rather than wait for another company to seize the opportunity so it can simple follow. You can read the answer here.
Satisfy – What do we do as a company after identifying or anticipating a customer’s need? obviously we have to go fulfill it before our competition does. Example, Zomato and Swiggy, a simple but rather useful observation, will not let the other company work alone in a place. Like, I used to stay in Mysore during my Infosys days and there was no Zomato or Swiggy operating there until 2018–19 FY. Once, Zomato started its operations in Mysore and with in 2 months we had Swiggy bikes roaming around Mysore roads. Please do not mistake it for a coincidence. This is a pure and successful marketing strategy.
Profitable way – Why do we run a business? To absolutely make profits! no doubts. So, our aim as a company is to meet the needs of the customers but not at the cost of burning our own cash. Here lies the secret marketing techniques. The way to achieve profit but at the same time satisfy the needs of the customers. Example, Apple does it the best way. It satisfies it’s customers with the latest technology possible. The price is definitely more but Apple provides an eco system of products so that all the Apple devices can be connected.
Now coming to the main focus word Customer needs. I will explain it in detail below with a 4W1H framework.
It is a great thing to work on the 5 basic and important questions before we delve into the marketing secrets. The questions are Why, Who, When, What and How. Asking these questions will basically help us to get the feel of what we are tying to solve and what is our end goal and what do we need to do to approach it.
Introduction to Successful Marketing secrets adoption
A little bit of context in understanding the customer will help too. There is a difference between customer and consumer, let us dig into that first. A customer is a person who makes the purchase. A consumer is a person who consumes it. Customer and Consumer can be the same person in certain cases too. For example, my mother goes to shop to buy bread. She becomes the customer as she is the one who is going to make the purchase. She brings the bread home and I finish the pack as soon as I see it. As I am the one who has consumed the bread, I become the consumer. Now, why did I give this example you may think! It is because, now the company that manufactures this bread, who do they target and try to manipulate into thinking that this company’s bread is good for health! Me or my mother? Here this is the thinking I want to impart to you. Here lies the strategy of marketing and the secrets.
Sales and Delivery Channels in Marketing secrets
Also, let me clarify about the place of purchase. Sales and delivery channels are both different. For example, we buy a shirt from Amazon. Now, as we have ordered in the online medium (Amazon website), sale has happened online. So, the sales channel is online. After 7 days, we receive the shirt from the delivery boy. We have physically received the shirt at our door step delivered. So, the channel here is offline. Understanding this will help us to divide our company’s marketing efforts in to sales and delivery channels differently.
Marketing secrets that everyone forgets to do
In the above example, we have seen the Who, What and Why part. Let us think about the When and How part now. This is where things get interesting and dirty. Who is to be decided by the company as customer and the consumer are different. They need to target my mom and me differently right? They definitely cannot use the same strategy. What is the customer need – to eat bread as a snack. Why – to munch in the evening time as I watch TV. Let us say that the company has decided the above answers for those questions corresponding to the above example.
Now for the When part. When do you think they should be doing it? In what season? Do people eat bread in summer, winter or in rainy season? Do they eat more in the time of recession? or at the time of Employment crisis or when economy is going down? or is it a regular day to day break fast item? Company can formulate this and come to a decision and time their marketing budget accordingly to run the campaigns. This is a marketing secret and also a simple and best marketing concept that can used.
Now, How do they want to do it? They can run ads on TV for example. But how do they run the ad. They can showcase a beautiful heroine explaining about bread so that I being the young man can remember the brand and the product. But am I the one purchasing the bread at the shop? Nope, it is my mother. So, a company should do their primary consumer research in understanding the customer and the consumer so that can plan their ads.
I hope this answer has provided some clarity in understanding the marketing secrets, concepts and strategies. Do follow me on Quora for more such answers.
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