MARKETTING ASSIGNMENT

Types of Marketing

Smriti Deep Kaur

MARKETING
Among the three major types of marketing, the major differences are, Direct Marketing Approach the consumer directly using targeted information Arrives at home, weather consumer like it or not Permission Marketing Meaningful Marketing Seek consumer apporaval Create marketing that and input prior to approach invites consumer participation Consumer can choose Targets on improving whether or not to receive quality of life, so consumer the advertising would love to be the part of marketing Give and take Dialogue Value added benefit Authorization Service Focus on message Focus on meaning

Tell and sell monologue Interruption Focus on medium

Integrated Marketing
Integrated marketing is essential to getting a better return on investment (ROI). By integrating all marketing materials you can increase profits at very little expense. What is Integrated Marketing? Integrated marketing is more than just having a consistent look and feel to all of your marketing materials. Integrated marketing is the process of interlinking all marketing materials to enhance their effectiveness. For example, lets say that Larry's Widgets just spent $XX,XXX.XX on a new website. Larry then sits back and waits for the money to roll in. Jerry's Widgets, Larry's biggest competition, follows suit and spends $XX,XXX.XX on a new website. Jerry then adds the new website address to his letterhead, business cards, brochures, t.v. commercials, radio ads, flyers, t-shirts, billboards, golf balls, direct mail ads, etc. Which company is more likely to get a better return on investment from their website? (BTW, Larry just went out of business). What does it cost? Now, lets look at the costs involved with integrated marketing. How much more did Jerry have to spend to get that extra return? The cost is minimal. Adding your new website address to the next batch of business cards, letterheads, brochures, etc. probably won't

cost much at all. However, the increase to the effectiveness of the website went up exponentially. Integrated Marketing - A Necessity Increasing return on investment should be a major goal for any organization. If your marketing isn't consistent and integrated, you are losing money. Look at your current marketing plan. Are you integrating all marketing materials, or are there places where you could improve. The place most businesses fail is in integrating their marketing materials to their sales people. Let me explain. If the salesperson can't capitalize on the marketing, you've wasted money. Furthermore, if the salesperson doesn't know about the marketing plan or specific deals that are running, you have not integrated your marketing. You must integrate your marketing from conception to sales receipt and beyond for any marketing plan to succeed.

Permission Marketing
Permission marketing is an approach to selling goods and services in which a prospect explicitly agrees in advance to receive marketing information. Opt-in e-mail, where Internet users sign up in advance for information about certain product categories, is a good example of permission marketing. Advocates of permission marketing argue that it is effective because the prospect is more receptive to a message that has been requested in advance and more cost-efficient because the prospect is already identified and targetted. In a world of information overload, automated telemarketing, and spam, most people welcome the idea of permission marketing Permission marketing and the internet Permission marketing offers the promise of improving targeting by helping consumers interface with marketers most likely to provide relevant promotional messages. Many permission-marketing firms (like yes mail.com, now part of the business incubator CMGI) claim that customer response rates are in the region of 5-20%, and since most use e-mail, they are not affected by the measurement problems of banner advertising. Since the ads arrive in the mailbox of the individual, it is likely that more attention would be paid to them in comparison to banners. Even though permission marketing can be implemented in any direct medium, it has emerged as a serious idea only with the advent of the Internet. The two reasons for this are that on the Internet, the cost of marketer-to-consumer communication is low, and the Internet enabled rapid feedback mechanisms due to instantaneous two-way communication. Another motivation for permission marketing on the Web has been the failure of the direct mail approach of sending unsolicited promotional messages. The prime example of this is unsolicited commercial e-mail or Spam. Senders of spam realize three things: the cost of obtaining a new e-mail address is minimal, the marginal cost of contacting an additional customer is nearly zero and it is easy to deceive the consumer. Spammers can easily obtain new e-mail addresses from websites and Usenet groups using software programs that trawl the Internet. Individuals provide their addresses at these places for other purposes and hence, this violates their privacy rights. In addition, marketers incur similar costs if they send out 1 million or 10 million e-mails. Moreover, there are now programs that enable the large-scale use of deceptive practices (like forged e-mail headers).

Because of those problems, spam cannot be a legitimate form of marketing communication. Using it would lead to an excessive message volume for consumers, weakening of brand reputation and a slowing of the entire network. Hence, permission marketing is seen as a feasible alternative for Internet marketing communication. Permission marketing is now a large-scale activity on the Internet. A leading Internet business periodical noted that "permission marketing was once a niche business. Now, everybody is doing it. In addition, permission marketing has been incorporated in leading texts on marketing management like a millennium edition.

Interruption Marketing
Interruption marketing is a pejorative term that refers to promoting a product through advertising, promotions, public relations and sales. It is considered to be an annoying version of the traditional way of doing marketing whereby companies focus on finding customers through advertising. (Confusingly, the ambiguous term outbound marketing is sometimes used as a label for interruption marketing. This gives rise to an ambiguity because in the past the term had a different meaning, namely that information about finished product capability was flowing out to prospective customers who have a need for it i.e. benign marketing communication and product marketing.) Types of interruption marketing Interruption marketing can be via various techniques,] a few of which is listed below:

Trade show: event at which a good or service is exhibited Telemarketing: act of promoting a good or service over the telephone Print advertising: promote a product via newspapers or magazines Direct Mail: promotional circulars sent directly via mail E-mail spam: electronic mails sent to large mailing lists TV/Radio Advertisements: promote a product via television and radio

Usefulness of interruption marketing The usefulness of interruption marketing to a business depends on what the company wishes to achieve. If the company has sufficient funds to invest in an advertising campaign and that the management wishes to have quick results, then interruption marketing may be most appropriate. Most businesses depend on interruption marketing to bring in their profits. Site Pro News has stated that the main difference between permission and interruption marketing is that interruption marketing can gives quick results and allows for a more scientific way to measure sales.

Problems encountered with interruption marketing With outbound marketing, marketers are often expected to find different ways to cope with the rejections from potential customers. Also, advertisements have expiry dates and once the expiry dates have been reached, the campaign will have to be started again. Thus, the return on investment of advertisement campaigns is rather low most of the time.Outbound marketing is often considered to be a poorly targeted technique as it cannot be personalised to specific customers. Moreover, advertisements often interrupt customers and as such, they may be wrongly considered by potential consumers.

Meaningful Marketing
Meaningful Marketing or Marketing with meaning extends the horizon of marketing. It completes the full circle of relationship between a customer and a brand rather that sticking to conventional selling procedure. Practicing meaningful marketing is at its heart about understanding consumer needs and delivering value through the marketing itself. Its the marketing that people choose to get engage with. It involves creating something that people find is worthy of their time and attention, rather than continuing to look for ways to cleverly (or not so cleverly) interrupt them. Its marketing that itself improves peoples lives. Many a marketer goes to bed at night, proud to support products and services that add value. Indeed, they may remove tough stains, put a smile on faces, or enable priceless purchases, but we too often utilize the old interruption approach to present these products and services to our customers. Instead, we must create advertising that actually adds valuewithout necessarily forcing a sale. Brands like Dove, Nike, Burger King, and the Partnership for a Drug-Free America are but four examples of major brands that are executing this new approach in truly significant ways. They have abandoned interruption, created marketing that people choose to engage with, connected with them in a variety of innovative new forums, and successfully launched meaningful campaigns that have positively affected both their numbers and the quality of life of the people theyre targeting.