Guide For Evolution of Marketing
Evolution is a beautiful process. It includes the starting point, rise, fall, hurdles, and many more things in the journey to improve, emerge and sustain. The end goal of evolution is to be sustainable for a longer time. Marketing is a deep subject. To understand more in-depth, we need to understand a few things about Marketing.
First of all,
What is Marketing?
Marketing is the process of advertising and spreading awareness about a specific thing. It might be a product, service, or even a campaign. The vital function of Marketing is to let people know about the products or services. It includes any method of advertising.
Marketing plays a vital role in an organization. The company may have many product experts, but if they don’t have the right marketing strategy, there is no point in those experts working hard on product development. Product is the lock, but marketing is the key. There is no way to open a lock without a proper key. The key to sales and profits is involved in marketing. The way we showcase the products is a very emerging part of any marketing procedure.
Marketing is a concept where we can learn how to make more profit with a limited set of resources. It helps us in learning many new things that we never knew. They are helpful and essential in any business plan. Marketing includes managing the available resources and also outsourcing the required raw materials.
The Five Stages of Marketing Evolution are:
- Production Orientation
- Product Orientation
- Sales Orientation
- Marketing Orientation
- Societal Orientation
At this stage, the company believes it has to reduce the resources and increase the quantity over quality to produce more products. The production depends on the factories. The company doesn’t care about the quality of the production items. The quality is cheap and leads to much quantity with less cost. The low-cost products attract customers. Therefore, low cost-high profit for the company.
The production-oriented companies focus more on internal capabilities. They don’t care about the customer’s needs.
Product-oriented companies concentrate on the quality of the quantity. The companies believe in producing high-quality products that can last for more days without further problems. In this way, the company gets to gain customer loyalty. The company respects quality over quantity. Due to the emerging brand loyalty, the company has sustainable opportunities and profits.
The company believes only in increasing sales to improve function and profits. The salesperson needs to reach the daily or monthly goals of the company to increase sales and bring profits. The quantity is the main target for these companies.
The ideal marketing-oriented companies are the ones that research, study, learn, experiment, and develop products based on customer needs. A need is an ultimate necessity to observe and fulfill. The customers are satisfied with the brand, and brand loyalty forms, leading to sales and profits.
Due to this reason, many Multinational companies invest high amounts of money in their R&D centers. Example Samsung and Google Alphabet. Samsung is the world’s most R&D investment Brand. They believe in building brand loyalty to emerge and sustain.
The companies believe a better society leads to better business. The companies strongly take part in charity and related campaigns. Philanthropy builds customer trust, leading to better sales and profits.
Example: Hindustan Unilever Limited and ITC. They spend a specific percentage of their profits on charity events and poor children.
However, the final goal of any company is to emerge in the market and develop their organizations.
Apart from these, Digital Marketing is also a part of Marketing Evolution. Improving technology made everything simple. From small businesses to the emerged companies, the marketing strategy is something everyone needs.
Marketing is magic to mingle with people.
Marketing is a skill where we can attract customers. It might be a TV ad or an Instagram post that is a part of the marketing strategy. Increasing Globalization is also a reason for the evolving standards of Marketing.
- Keeping an attractive name for the company
- Meaningful Tagline
- Social Media Campaigns
- Television Ads
- Charity work
- Active Social Pages
- Replying or commenting on posts
- Showcasing the benefits of the products/Services
- Attracting customers
And many more things in the line.
Marketing is a stream of maintenance. It can decide the further growth and the future of the company. It is required to follow a unique marketing strategy to make a place in the market. Marketing strategy includes a strong marketing team who can make a brand out of a company. Branding is not a sustainable process. A company needs to renovate, update and evolve the process now and then.
We expect this article to give you a brief knowledge about the Evolution of Marketing. Have a wonderful Marketing experience, Have a great day !!!