Theoretical Review of Marketing
Part 1: Theoretical Review of Marketing
Marketing is all about people and communication, and the way in which businesses connect with customers has changed drastically over the past century. The introduction of digital marketing has provided new ways in which businesses can connect with customers and are coming increasingly important (Grensing-Pophal, 2014). However, older traditional methods are arguably equally as effective when marketing a new product or service, and businesses continue to use old and new techniques.
Digital marketing through the usage of smart phones has increased rapidly over the past century with around 4.33 billion people using a smartphone in 2013 (eMarketer, 2014), which has resulted in businesses taking advantage by creating phone applications. “Apps” install in seconds and allow customers to access ample information on a business through their fingertips. Apps can be easily updated by businesses meaning they are always current and can provide valuable information for the customer. An example of a business that uses apps effectively is popular food chain Nando’s. Their app includes menu information, promotional deals, updates on loyalty cards and where the nearest restaurant is situated (App Store, 2014).
When comparing and contrasting digital and traditional methods of communication, it would appear that digital is the more cost-effective technique because there is no charge to advertise through social mediums like Facebook. However, ‘traditional methods have a high success rate’ (Higuera, V, 2014) and are easily accessible through a newspaper, magazine or radio as statistics show that 9,540,993 people buy a newspaper in London every day (Greenslade, R, 2014). When considering audience coverage, digital communication has a ‘far greater exposure’, with anyone in the world being able to see a little as one marketing campaign (Business zone, 2013), compared to traditional communication, which is seen to have a more localised approach,
Marketing is all about people and communication, and the way in which businesses connect with customers has changed drastically over the past century. The introduction of digital marketing has provided new ways in which businesses can connect with customers and are coming increasingly important (Grensing-Pophal, 2014). However, older traditional methods are arguably equally as effective when marketing a new product or service, and businesses continue to use old and new techniques.
Digital marketing through the usage of smart phones has increased rapidly over the past century with around 4.33 billion people using a smartphone in 2013 (eMarketer, 2014), which has resulted in businesses taking advantage by creating phone applications. “Apps” install in seconds and allow customers to access ample information on a business through their fingertips. Apps can be easily updated by businesses meaning they are always current and can provide valuable information for the customer. An example of a business that uses apps effectively is popular food chain Nando’s. Their app includes menu information, promotional deals, updates on loyalty cards and where the nearest restaurant is situated (App Store, 2014).
When comparing and contrasting digital and traditional methods of communication, it would appear that digital is the more cost-effective technique because there is no charge to advertise through social mediums like Facebook. However, ‘traditional methods have a high success rate’ (Higuera, V, 2014) and are easily accessible through a newspaper, magazine or radio as statistics show that 9,540,993 people buy a newspaper in London every day (Greenslade, R, 2014). When considering audience coverage, digital communication has a ‘far greater exposure’, with anyone in the world being able to see a little as one marketing campaign (Business zone, 2013), compared to traditional communication, which is seen to have a more localised approach,
References: Baines, P. (2013). Essentials of Marketing. Oxford: Oxford University Press. p293-295. Hackley, C. (2010). Advertising & Promotion. 2nd ed. London: SAGE Publications. p83-87. Baker, R. (16 Jan 2012). Morrisons targets students with convenience store. Available: http://www.marketingweek.co.uk/morrisons-targets-students-with-convenience-store/3033302.article. Last accessed 16th Nov 2014. Brooks, B. (01 July 2014). Tesco and Morrisons lose share again in latest Kantar figures. http://www.thegrocer.co.uk/channels/supermarkets/tesco-and-morrisons-lose-share-again-in-latest-kantar-figures/359084.article. Last accessed 12th November 2014. Digital Marketing Ramblings. (2014). 170 Amazing Facebook Statistics & Demographic Statistics. Available: http://expandedramblings.com/index.php/by-the-numbers-17-amazing-facebook-stats/. Last accessed 2nd December 2014. Gales, S. (09 Oct 2014). Match and More ticks boxes. http://www.thegrocer.co.uk/opinion/letters/match-and-more-ticks-boxes/372434.article. Last accessed 16th November 2014. Hegarty, R. (03 Oct 2014). Morrisons Match & More trials in East Anglia ‘beat expectations’. http://www.thegrocer.co.uk/channels/supermarkets/morrisons/morrisons-match-and-more-trials-beat-expectations/372237.article. Last accessed 18th Nov 2014. Huffpost Tech. (14 Aug 2013). Facebook Says It Has 24 Million Unique Users Every Day In The UK. http://www.huffingtonpost.co.uk/2013/08/14/facebook-uk-usage-statist_n_3753561.html. Last accessed 17th Nov 2014. Image 1. Leeds Beckett Lecture Slides. (Oct 2014). Segmentation, Targeting & Positioning. Last accessed 17th Nov 2014. Image 2. (2011). http://mapsys.info/wp-content/uploads/2011/04/cc928c9577mage11.png.png. Last accessed 20th Nov 2014. Morrisons Website. (Oct 2014). Match and More. https://www.morrisons.com/matchandmore/more-info.html. Last accessed 16th Nov 2014. Morrisons Website. (Oct 2014). Match and More. https://www.morrisons.com/matchandmore/more-info.html. Last accessed 17th Nov 2014. Morrisons Website. (2014). Company History. http://www.morrisons-corporate.com/About-us/Company-history/. Last accessed 18th Nov 2014. Techdigest. (18 Sept 2013). Average age of iPhone user has risen from 25 to 34 in last two years, claims poll. http://www.techdigest.tv/2013/09/average_age_of.html. Last accessed 16th November 2014. Vizard, S. (02 Oct 2014). Morrisons first supermarket to price-match against the discounters. http://www.marketingweek.com/2014/10/02/morrisons-first-supermarket-to-price-match-against-the-discounters/. Last accessed 17th Nov 2014. Vizard, S. (02 Oct 2014). Morrisons first supermarket to price-match against the discounters. http://www.marketingweek.com/2014/10/02/morrisons-first-supermarket-to-price-match-against-the-discounters/. Last accessed 17th Nov 2014.