Marketing is a very important and huge field. With good marketing, you can sell a bad product but with poor marketing, you cannot sell even a good product. But with the increase in competition, marketing is also becoming challenging. So, first of all, we will discuss marketing and then we will discuss the scope of marketing, especially the modern-day marketing that is the scope of digital marketing.
What is marketing?
“Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products and services of values with others.” – ‘Social Definition’
“Marketing is basically the process of planning and executing the conception, promotion, pricing, and distribution of ideas, goods, and services to create an exchange that satisfies individual and organizational goals.” – ‘The American Marketing Association’.
What are the steps before marketing?
1. Design of Product
Product design is the most important stage in factors like the communication needs & problems of the consumer have to be considered before marketing a new product design.
2. Product Implementation
Once the decision is made regarding the design of the product, more focus should be given to the production part regarding the implementation of product features.
3. Product Pricing
Pricing is one of the most important aspects of the product because it is something that decides the major buying decision of the consumer. So if the product is very new to the market its price should be affordable.
4. Layout Selection
The layout is basically the place or the location where actually the product /services will be availed so more focus should be done on the exact location and layout.
5. Product Promotion
Publicity or promotion means communication about the product and services for creating public awareness & demand for the product by getting public attention through the advertisement.
6. Distribution channel
The distribution channel represents all the number of intermediator like whole-sellers or the retailers, distributors, and agents who are involved in the marketing channel.
7. Product Selling
Selling is the actual goal and challenge of marketing. The selling of products and services involves different strategies like distribution through stores, salesmen, and advertisements including traditional and digital ads, exhibitions, trade fairs, etc.
8. Feedback Collection
This is basically the stage after the product is marketed and sold collecting feedback regarding satisfaction or dissatisfaction related to every feature like price, availability, etc, and making changes to fit the product in the market.
Scope of Marketing
(i) Goods – Goods can be defined as anything tangible which can be offered to the customers in order to satisfy their wants, (e.g., Maggi noodles)
(ii) Services – Services can be defined as anything which can be offered by one party to another which is intangible, variable, and perishable in nature, (e.g., medical services, defense, etc.)
(iii) Experiences – Experience can also be marketed as a product. By using several services and goods, a firm can create stage and market experiences, (e.g., Walt Disney World’s Kingdom represents experiential marketing – Customers visit a fairy kingdom, a pirate ship, or a haunted house)
(iv) Events – Marketers promote and market time-based events as well, (e.g., Sports events like IPL, etc.)
(v) Persons – Incidentally through our actions or inactions each one of us as an individual is marketing ourselves and marketing efforts are supplemented by family and friends. Celebrity or famous personality marketing is a major business. Today every film star has an agent or a public relations officer in order to get help with marketing, (e.g., Sachin Tendulkar)
(vi) Place – Places-cities, states, regions, and nations-compete actively attract tourists, companies, etc., (e.g., tour packages, etc.)
(vii) Properties – Properties are bought and sold and this requires marketing. Properties are intangible rights of ownership of either real property (e.g., real estate) or financial property (e.g., stocks and bonds).
(viii) Organization – Organizations actively work to attract their stakeholders. They work to build a strong and positive image in the minds of their stakeholders with the help of public relations, (e.g., Free dental checkup campy by Colgate and Indian Dental Association).
(ix) Information – Information can be produced and marketed as a product, (e.g., Research and Development services, Encyclopedias)
(x) Idea – Ideas can also be produced and marketed as well. In fact, idea generation is the first step of new product development. Every market offering includes a basic idea, (e.g., Business ideas, etc.)
What is the Scope of Digital Marketing in India?
What is Digital Marketing?
Before understanding the scope of digital marketing in India, let us first understand this industry. Digital marketing is a marketing method for promoting products online. So in simple words, we can say that we are promoting our products to the customers who are using the internet. Many of the concepts of traditional marketing apply to digital marketing.
In each era, marketing has evolved based on what the customer is using. If you go back in history, you can see that there were times when customers used radio, which gave rise to radio advertising and marketing. Next, we got the boom of television, one of the most widely used tools globally, which allowed companies to reach massive audiences with TV commercials. TV advertising is still one of the most used advertising strategies for companies today. Since the boom of the Internet, more customers began to use the Internet, which gave rise to a new era of marketing, originally called Internet marketing, now referred to as digital marketing.
To understand the scope of digital marketing in the future, we must understand its benefits and it can last till we get a new generation of communication.
What is the scope of Digital Marketing in India for Professionals?
As we know that digital marketing industry is growing, which brings more opportunities for professionals in this industry. The following opportunities are available for professionals.
The easiest and best way to start your career in Digital Marketing is a thorough job search. In Digital Marketing, we have many different experts so you will have different options to start your career.
Junior and Mid-Level Career Options
- Digital Marketing Intern
- Digital Marketing Executive
- SEO Executive
- Link Building Expert
- Social Media Expert
- Google Ads Expert
- Email Marketing Specialist
- Web Analyst
- Online Reputation Executive
- Content Marketing Executive
High-Level Digital Marketing Job Titles
- Digital Marketing Strategist
- Digital Marketing Manager
- Social Media Manager
- Head of Digital Marketing
- Paid Ads Manager
- Head of Digital Branding
Apart from the above list, there are more specialized job roles to choose from in digital marketing.
Scope of Digital Marketing in Online Business:
1. Become a Professional Blogger:
Many digital marketing professionals choose full-time blogging as their career option. With dedication and hard work, not many professionals are successful bloggers in their chosen niche. Bloggers can generate income with advertising and affiliate marketing strategies.
2. Earn with Affiliate Marketing and AdSense:
You can start your blog/website/app at your specific place of interest and work hard to build traffic and audience initially. After generating good traffic, you can earn decent money from AdSense and affiliate marketing techniques.
3. Start Freelancing Service:
Freelancing is the concept of offering your services to clients on a part-time basis from your home. Sitting at your home, you can build your clients globally. Thanks to online websites like fiverr.com, freelancer.com, etc. you can start offering your own freelancing services.
4. Start Your Own Agency:
If you have experience managing a business and have the resources, contact. You can start your own full-time digital marketing agency. With your agency, you may be able to create marketing strategies for clients and implement them with digital marketing.
5. Become a YouTuber:
You can choose to become a full-time YouTuber in a select niche. You need to focus on the quality of the content and build your audience base on YouTube. Once you start gaining subscribers and views, you can make money with YouTube monetization.
6. Start Your Drop Shipping Business:
Give up a business model in which you may be able to sell products to customers online without physically having inventory with you. Generally in this business, you need to develop an e-commerce website in Shopify and select your products based on your research. You then connect your store with Ali Express to manufacturers and online retailers in China. All product prices are marked up and when your product sells, the manufacturer will directly send the product to the customer and you will make a profit.