Basics of Marketing Every Beginner Should Understand

 

You probably have always heard about marketing and how it is important for a successful business. But what marketing is actually?

If you have started to think about marketing to grow your business, then it is good to start to learn from the very basics, which is the definition of marketing.

In this article, you can learn about marketing in Singapore as a beginner.

So, without further ado, let's get into it.

 

Marketing Definition

Marketing is actions taken by a company or a business to attract an audience. The aim of this action is to get them to buy their product or services. This is done by high-quality messaging.

There are many ways of marketing these days, but all use content to demonstrate product value.

Marketing also includes researching and analysing the consumers in order to make an effective strategy.

 

Marketing Types

Over time, there have been many different types of marketing. But to these days, here are some of them that remain used and deemed effective.

1. Internet marketing

As the digital era has taken over, internet marketing surely is one of the most sought methods by companies or businesses. It is now very important to have a presence on the internet and reach the target audience through this method.

 

2. Search engine optimization (SEO)

SEO is a form of digital/internet marketing which aims to optimize a website's contents to make it appear on Google's search engine result page. This is very useful to raise brand awareness and build a brand presence as well.

 

3. Social media marketing

Social media platforms have become an integral part of marketing now, such as Facebook, Instagram, Twitter, and others. That is why analytics tools are now available on the platform for marketers to track their campaigns.

 

4. Video marketing

It is no surprise that video marketing is now a thing. Back in the day, marketing is done with commercials. But now, various types of videos are part of marketing effort which can lead people to a business' funnel eventually.

 

Marketing 4 Ps

When it comes to marketing, it is important to understand about 4 Ps. 4 Ps of marketing helps you understand how marketing interacts with a business.

The 4 Ps include product, price, place, and promotion.

 

1. Product

When you have a product you want to sell, your marketing team needs to do market research and understand its target audience. Once you have understood them, you can try thinking of the kind of messaging that can increase the product sales and the platform that is best for it depending on their behaviour.

 

2. Price

Marketing often means competing with other businesses in the market, especially regarding the price of the product. Hence, it is important to research the competitor's product prices to know the right price to sell your product at. If you set a price too high, of course, it will be difficult to make a competition. On the other hand, if you set it too low, then the company will take the damage because it makes it difficult to gain profits that way.

So, it is important to be in a reasonable price range.

 

3. Place

Where to sell your product? This needs to be answered as a part of marketing. Perhaps upon research, you find out that e-commerce is the best place. Or maybe it is still better to sell in offline stores. If so, where is the place that has the best potential customers? Always research before settling on a place for marketing.

 

4. Promotion

Of course, you need to promote your product. There are many ways to do this, either by advertisements, discounts, events, and others.