QQI Level 5 – 5N1364: Unit 1: Introduction to Marketing- Digital Marketing, Assignment, OC, Ireland

1.1 Marketing

Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling the product or service. It is a critical business function for attracting customers. http://en.wikipedia.org/wiki/Marketing

1.2 Relationship Marketing

Relationship marketing is the development and management of long-term relationships with customers where the core elements are likeability and trust between the vendor and customer. When these relationships with customers have been established, loyalty to your brand is far more likely to occur. Continual nurturing of these relationships is key to their long-term success.

1.3 The Purpose of Marketing

The purpose of any marketing, whether online or offline, is to bring in more business
to increase profits.

There are four basic ways to improve profits:
Increase customers:
a. Increase traffic to increase customers.

b. Add to product offerings to make them more compelling

c. Use PPC, SEO, business results, article marketing, etc.

Increase number of transactions per customer:

a. Build mailing list.
b. Build followers via your social media channels.
c. Increase customer communications through autoresponders, newsletters, broadcast messages.
d. Offer them upsell opportunities — pitch something seasonal.
e. Send out reminders for services and specials.

Increase the average amount per transaction:

f. Offer bundle packages and upgrades, strong reasons to purchase.

1.4 The Marketing Mix

In his article from 1953 entitled “The Concept of the Marketing Mix”, Neil Borden
crafted what would become one of the most important terms for marketers – The
Marketing Mix. This is a planned mix of critical elements that go to make up a
marketing strategy.

E. Jerome McCarthy first used the term “the 4 Ps” in 1960 to describe the four main
elements of the marketing mix – product, place, price and promotion. The concept
helped simplify understanding of the main elements of marketing. When marketing, businesses need to create a successful mix of the right product sold at the right price in the right place using the most suitable promotion.

1.5 Brands

A brand is a product or service that is distinguished from other products or services so that it can be easily communicated and marketed. A brand name is the name of the distinctive product or service. Branding is the process of creating and disseminating the brand name. Branding can be applied to a corporate identity as well as to individual products and services. Brands are often expressed graphically in the form of logos. Brand names and logos are usually protected in law by trademarks, patents or copyright.

1.6 The Branding Process

The branding process requires careful thought and planning, extensive research, specific definition and maintenance. A successful business has to develop a brand that its potential target market becomes familiar with and can trust. Once this is done, it becomes easier for the business to grow and develop successful customer relationships.

1.7 What is Digital Marketing?

Digital Marketing is the promotion of products or services via one or more forms of
electronic media.
Digital marketing channels include:
✓ Social Media Marketing.
✓ Search Engine Optimisation.
✓ Pay Per Click Marketing.
✓ Email Marketing.
✓ Banner Display Advertising.
✓ Online Video Marketing.
✓ Online PR.
✓ Mobile Marketing.
✓ Affiliate Marketing.

Resources

Marketing Mix Case Studies
McDonalds Marketing Mix (4Ps)

McDonald’s Marketing Mix (4P) Analysis

The Starbucks Experience

Branding Case Studies
Huawei
http://www.brandingbusiness.com/case-studies/huawei
Gillette

Mobile Phone Penetration Rates
https://www.statista.com/statistics/274774/forecast-of-mobile-phone-usersworldwide/
GDPR
https://en.wikipedia.org/wiki/General_Data_Protection_Regulation