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Marketing strategy of brands: How versatile it needs to be?

3 Mins read

Brand Marketing plays a pivotal role in promoting businesses and helping them achieve their company goals. It serves as the face of the company that coordinates and yields every material required for the business. Building the brand image and establishing a name in the market so that it approaches the target audience is very crucial, that is where marketing comes in and makes it a bit easier. Marketing is an essential tool to augment the brand reputation and instil a sense of trust within prospective and existing customers.

Marketing has evolved throughout the years. Though traditional marketing techniques had helped quite a bit to build big brands, with the introduction of social media and data science, the scope for marketing to build a brand is increasing every day. The shifts in consumption, heavy demand, continuously changing market patterns and launching of new media platforms help in creative and marketing policies to continuously evolve.

Marketing is drawing attention by the public announcement to a commodity or service with the aim of selling it as well as making a brand mark. Modern marketing is a child of production for profit. When modern marketing techniques were in their infancy, the marketers were simply spaced salesmen or periodicals. Marketing is a broad concept directed primarily at the long range of sales and building a credible brand recall amongst the public.

The emphasis in marketing is given on sales and brand value, for example, to increase the share market from 6 to 10 per cent in two years and finding out creative and innovative ways of how to do it. Background knowledge and research are very essential in the process of marketing.

The idea of marketing was put into action in the 1920s. It started with the motto to increase sales as it became a priority to the Westerners. This era saw the primary active effort to push sales, and therefore the introduction of the promotion and a replacement breed of ‘salesmen’, something that has modified little to the current day. It was in the 1950s when business owners started to realize that marketing is just not limited to the products or services they sell, it is more about what the general public wants them to offer. Televisions were not present at every household so print and radio were the only sources to reach the customers. Radios were everyone’s go-to gadget and intelligent marketers used them to their advantage.

By the turn of the century, businesses started to adapt to the “customer comes first” concept of marketing which helped them view customers as an individual rather than considering the market as a whole. They started to believe in building healthy customer relationships instead of just focusing on sales and moving on to the next moment. Inevitably, it has been found that customer loyalty drives future sales not only by their repeated habit but by giving their advice to family, friends, coworkers, etc. Television had entered the scene by this time and led to a plunge in marketing revenue Radios and print marketing were still on the go with television backing them up increasing sales and consumers side by side.

Soon, companies started to consider customers as the centre of their organization and started out campaigns that were more customer-centric. By the 21st century, every company came to the understanding that to make their brand bigger, they need to put customers as their first priority and sales in the second place.

A sixth major development phase is underway right now as we talk about marketing, and it is the digital age. With the expansion of technology and the growing dependence of consumers on it, marketing has started to migrate to the online world. The ancient marketing strategies will be in place, and it’s vital to remember this. However digital marketing will keep bringing newer methods of reaching an ever-changing market. In the quest of achieving consumer trust and also increasing sales alongside, social media marketing has become the most important pathway.

Marketing policies have seen a dramatic evolution and as consumers are spoilt for choices in the present times, now more than ever, brands need to be a beacon of trust. Beyond quality product and service, consumers also pay attention to the messages delivered by the brand. Hence, to adapt to the evolving scenarios, brand strategies need to be raised to a new level backed by data, creativity and interactive brand experiences across all touchpoints.