ASSIGNMENT IN MARKETING

1.WHAT IS MARKETING AND ITS TRADITIONAL APPROACHES

-Marketing is the process of getting consumers interested in your company’s product or service. This
happens through market research, analysis, and a solid understanding of your ideal consumer’s wants
and needs. Marketing pertains to all aspects of a business, including product development, distribution
methods, sales, and advertising.

*Direct Mail - Direct-mail marketing creates awareness of a product through postcards, brochures,
letters and fliers sent through mail. Direct mail is called a targeted type of marketing strategy because
information is sent to a specific target market. However, direct-mail marketing can be expensive as a
business incurs design and printing costs as well as postage expenses to reach its target.

*Print- Print marketing includes advertising products and services through newspapers and magazines.
Print marketing is both a mass-marketing and niche-marketing strategy. As a mass-marketing strategy,
printed advertisements reach different classes of people, who might or might not have an interest in the
product. In magazines, print marketing reaches out to the niche market that reads the magazine, such as
women, fathers, teens or car lovers.

*Broadcast- Television and radio are traditional avenues still widely used. Broadcast marketing reaches a
large audience within a limited period of time. Television advertisements also bring authenticity and
realism to a product as people can see how the product works. However, broadcast messages have a
shorter lifespan compared with printed messages. Additionally, marketing through television and radio
is costlier, compared with other forms of traditional marketing.

*Referral – Referral marketing, also known as word of mouth, relies on customers to spread information
about products or services. Referral is not a strategic or planned marketing activity, but it might help a
business build a loyal client base. It also costs close to nothing for the business. However, a business
shouldn't rely primarily on referral marketing; it should combine this with the other types of marketing
to reach a wider target market.

2. GOALS OF MARKETING

Marketing goals should fit into and support your overall business goals. Just like any other goal,
marketing goals should be measurable. Goals must be specific and realistic as well.

Your goals are the building blocks of your marketing plan, the starting point of the plan. The first
component of the guerrilla marketing attack is envisioning the goals--having a crystal clear vision of
what will be accomplished during the current year and each subsequent year, with great attention to
detail. As an example, Disney's goal is to make people happy. This is the mission guiding all of its
business and marketing activity. It's a clear vision, and it's measured along the way. When there's a
question about the relevance of a particular activity, it's always reconciled to that crystal clear, overall
goal of making people happy.
In creating your marketing plan, you force yourself to focus on the specific goals you want your
marketing to achieve for you and on the outcome. The marketing plan also states actions to achieve
those goals.

3. CONTEMPORARY APPROACH TO DIRECT MARKETING IN THE BUSINESS MARKET

In the time and world of changes, many tend to claim that some of the earlier classical concepts of
marketing theory and practice are no longer so relevant for initiating modern entrepreneurial attempts,
and thus for successful business between different business subjects on the contemporary electronic
market. However, the relationship between traditional direct marketing and electronic marketing could
be best described as erratic. To support that, on one side, is the fact that electronic marketing, with the
help of internet, has enabled companies to achieve, with lower costs, interactively-driven business and
competative advantages, with providing global accessability to marketing information. On the other
hand, traditional direct marketing, based on the valuable and irreplaceable marketing resources and
techniques, unique in its ability to comprehand the integral complexity of the marketing concept and to
establish best directions of the marketing communication with consumers, has provided the foundation
for all new and modern methods of direct marketing. Therefore, the electronic marketing represents
addition to the traditional direct marketing with the special reflection in the area of business market.