Imagine two huge scales: on one of them all your resources to the project are gathered – people, money, time, state preferences, unique knowledge and patents, etc., everything that helps you to produce goods and services. On the second one – the whole demand for products of this type: the target audience and its size, the financial condition of the target audience, competitive pressures in the market, state regulation of limiting the demand, and so on.
Marketing – is the search for and achievement of balance on these huge scales at any time. No, this is not the canonical definition that can be found in numerous textbooks and books, including those recommended by marketing gurus. This is the picture of the world in which you are doing marketing, so keep it in mind.
One of the most exciting marketing stories in the world – the creation of Ford Mustang by Lee Iacocca team. Ford has been in deep crisis that was aggravated further by extremely unfortunate release of Edsel model, which almost led the company to bankruptcy. And then Lee Iacocca put together a team that has studied the demand, has taken into account the failure of the previous model, analyzed the existing market demand and potential of car buyers and released Ford Mustang – a new model of car, which has become an American legend, variations of which are available across the globe 50 years later.
So, marketing includes:
- Analysis of demand;
- Analysis of competitors;
- Analysis of the possibilities for the production;
- Formation of the job for production;
- Testing of the product to potential consumers;
- Promotion of a product on the market.
All this and much more are the basic components of marketing. Internet marketing can also be used to analyze the demand and competition, product testing (not always, of course), and for its promotion. And in all cases, Internet marketing is an environment for building communications.
Communication with people who have already purchased a product or just going to do it, communications with competitors, experts partners and so on… all the above is communication. That is, the Internet is a tool for the construction of communication with target groups. And this is where internet marketing takes center stage – to build marketing communications over the Internet. And yes – it is not a completely independent area, but a tool for marketing that of course has its own special properties.
‘Internet marketing does not exist’ is the quote seasoned marketers like HTP, digital marketing Manchester agency specialising in promoting a variety of enterprises online in the most sophisticated areas, and they are right: in fact, Internet marketing does not exist by itself, it is only part of the ‘bigger’ marketing concept. Internet marketing is a tool that solves the marketing problems of the company, and nothing more.
Because of the Internet online Marketing as a medium of communication is at times significantly different from the conventional marketing. Customers are more demanding, more prepared and know the product better, are less likely to trust the information obtained through the Internet than information from other media.