ZARA Case Study Solution
Zara is a well-renowned name in the field of clothes and accessories, all across the world. It is a popular fashion designing and manufacturing company.Download
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What is marketing? Marketing is just another term for sales. The major difference between sales and marketing is that sales focuses on one customer at a time, while marketing tries to reach out to as many potential customers as possible.
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Zara is a well-renowned name in the field of clothes and accessories, all across the world. It is a popular fashion designing and manufacturing company.Download
Over several years, marketing technologies as well as solutions have proliferated in international business.Download
Samsung Electronics is one of the towering technology giants on the global landscape and has been noted for their outstanding selling of smartphones.Download
The film, which is entitled ‘The Big Short’, consists of three different stories revolving on Dr. Michael Burry of Scion Capital.Download
The film “The Big Short” released in 2015 discusses how the mismanagement of government led to a global recession.Download
Feeling thirsty or hungry can impact a person’s driving performance.Download
The swift growth of the internet, web 2.0 and the advent of electronic commerce has provided a competitive platform for online trading and marketing (Henning et al., 2004).Download
Marketing is all about the process of planning, promoting and pricing goods, services and ideas. According to the American Marketing Association (2007).Download
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Marketing is a broad term that generally classifies a set of various works under the idea of promoting a business. Marketing, as defined, is ideally the subject that deals with a set of activities that focuses on the identification and satisfaction of the consumer or client, by using processes such as communication, delivery, and transaction of goods and offerings. In layman's terms, marketing deals with the action of promoting a business, selling goods or products, and enhancing the image of services such as brands, goods, even companies to increase their brand awareness. These are mainly done through a group of people working in the company that increases their profits by including research, understanding, and prediction. Even a conversation between individuals promoting or giving a good review about a product or company itself is a form of marketing. These are the prospects that every company wishes to achieve and works on.
Marketing is present in all stages of a business, be it a startup or century-old reputed company. It influences every aspect of the company product, right from the start to the end packing. The quality of the company, its reputation, and its reach is dependent on the marketing of the company. Marketing is often considered the key to the success of the organization or the company because the reach of the company is defined by its promotion.
Of all the marketing ideas, the basic and most primordial one on which the concept rides is that the customer is the key and their needs are the most important one. Satisfying customer needs and meeting their requirements itself is the biggest marketing. This is because it helps in the building of trust and increases the brand quality in the minds of the customer.
Many wonder how sales differ from marketing. Although both share an integral part in promoting the company products, there is a significant difference. Sales focus on the leads produced to them and convince people to buy the products and goods. They don’t have to know about consumer interests and how it increases their growth. Marketing, on the other hand, provides those leads to the sales representatives, to lead on the potential customers that can buy the company brand and products. They research potential customers and identify the areas of advantages and flaws in products and how they help the customers.
Marketing is important to make the brand or product, be in contact with the customers to drive sales and profit. And for these, companies use various platforms and channels to showcase their brands and products to influence the customers. These platforms can be classified into digital and offline, based on the mode of marketing, and research and influence based on the nature of marketing.
Although marketing has many ideas under consideration, it ultimately has a goal. The short-term goal or the close effect focuses on the value of the customers, prospects, and the brands while the long-term goal is focused on increasing the brand value, loyalty and sales by demonstrating the product value. The main purpose of marketing is to research and analyze your customers, conduct surveys, and study shopping habits to find out when, where, how, and why your customers communicate by buying your products or giving feedback. This helps in identifying possible places for the growth of products and companies. Companies spend a portion of their income and also have a separate team for marketing in their companies to perform and study their areas of importance. This is employed in all the companies, be it local or multinational.
The main purpose of marketing is to raise the brand awareness among the customers and market, increase the revenue of the company by increasing by selling more products to the target audience, build trust between the customers and the company so that more products will be sold, and to track the metrics of selling and so that potential customers can be identified, new products can be launched and market can be assessed for future growth.
As a general example, we take the advertisement of a major food company showing an advertisement on a web page. In this case, the web page is the platform for broadcasting the advertisement of the product. The broadcasting, analyzing the clicks and views on the webpage, and researching on those customers to produce profitable outcomes is called marketing.
Marketing can be classified into two major forms namely online and offline marketing. Although the types of marketing influence differently, the main goal is to attract the audience. This is mainly done by identifying the audience group and the platform on which the marketing is being done. For example, youngsters and children spend more time on websites and mobile phones while adults and the elderly spend most of their time watching TVs. So marketing is done to cover and attract the audience on the platform.
A wide context of marketing falls under both online and offline marketing strategies. Some of these include:
Content marketing- This is probably the major form of marketing that we get to see. This type of marketing involves creating and distributing content that is relevant and valuable to the customers to attract them. The main objective of content marketing is customer action that is profitable to the company. They help in connecting with the audience on an emotional level to influence their product.
Influencer marketing- This type of marketing is an account of using influencers such as celebrities and important personalities to leverage potential customers into buying products. Influencer marketing has a wide power and contributes to more than 30% of the marketing strategy as per a study. Because people favor celebrities and role models, marketing through them can create an image of the brand on the mind of the customer, and thus can get converted into a sale.
Outbound marketing- These are a wide prospect and encompass a variety of marketing strategies such as TV’s, radios, newspapers, banners, and other forms in the case of offline and Email, social media, and other types in the case of online marketing. This is generally the form of advertising the product from the side of the marketer to the consumer.
Online marketing is the current major form in this age of digitalization and is classified as:
Email marketing- Email marketing is the type of marketing that focuses on interacting and influencing individuals through Email. This method is mainly employed by every company to issue new offers and current trends to customers. This is a very effective method and has a high result with minimal marketing and is cost-effective.
Search Engine Optimization(SEO) marketing- This type of digital marketing works on the basis that certain target keywords or metas, contents, and links when searched can lead to the marketing advertisement. This is termed as organic search in digital marketing and is termed a “win” when the advertisement is reached upon searching those words.
Social media marketing- This method is popular and is widely utilized. Social media such as Instagram, Facebook, and Twitter are used as a platform for writing content about their company, involving and promoting conversations, and even advertising. Recently, these are garnering widespread attention because these platforms have a large audience and can produce great results. Engaging in conversations on these platforms can increase the trending capacity of a product or company, thereby indirectly marketing in society.
Affiliate marketing- This type involves a paid promotion of a particular brand or product on other websites, a person's blog or videos, and other uses. This type is favored when the brands are small or the companies want to influence a very particular group of people.
Relationship marketing- This type refers to the strategies and ideas that segment the consumers into groups to build loyalty towards the product. This mainly incorporates researching the analytics to find out the details of the purchase, database marketing, and behavioral study of consumers to buy a product.
Some of the offline methods to advertise to increase marketing are-
Word-of-mouth- This is perhaps the oldest and the most-trusted method of marketing. Whatever may be presented to a user, a certification from another consumer produces the best influence in buying a product. Studies suggest that word-of-mouth has almost 92% influence in buying a product.
Newspapers and pamphlets- Probably the second oldest method, this was widely utilized and is still in use even today.
Some other forms of marketing are also present but incorporate a broad spectrum into the concept such as-
Green marketing- This involves marketing products that are presumed to be friendly to the environment.
Viral marketing- This is a phenomenon that encourages people to buy a particular product and pass on a particular message or idea. These are incorporated in mass events or fundraiser-type events for doing help.Guerilla marketing- This is a type of strategy that aims to produce maximum results by utilizing minimum resources. Such methods mainly use ideas such as hoaxes, criticism, and other ideas to effectively drive marketing.
The 4P’s of marketing, given by E.J. McCarthy is widely incorporated and is accepted as an important aspect in marketing. These are-
Product- The basis of marketing is to have a product in hand. A product can be anything that a company can offer to the customer such as goods, services, and even information that can satisfy a customer in need. Marketing should be focused more on how the product can meet the requirements of the consumer and benefit them rather than explaining the characteristics and features of the products.
Place- The place in which a product is sold is as important as the product. A place should be strategic to enable the customers to easily access the products while providing a good experience during the purchase. Satisfied customers always return to places while dissatisfied ones look for other places. A typical example would include a restaurant being opened at the crowd center rather than a corner of the street.
Price- The cost of the product is important as it influences various factors in the mind of the consumer. Some of these include the target market of the product, the margin you wish to obtain through selling the products, customer satisfaction, and the company’s financial goals and ideas. A price should be fair, reasonable, and satisfy the consumer so that it influences the customer and promotes further purchasing of products, and creates a loyal customer.
Promotion- Promotion is an important factor for sales. Promotion can be of any form but should influence the consumers into buying the products. One prominent example we see every day is the shouting of shopkeepers to sell their products. Not only is promotion necessary, but promoted contents fare better than non-promoted as per studies because brands stick to our minds when promoted and can influence our purchases.
Understand the assignment- Some of the major mistakes happen at the very first step. Not understanding the assignment or misunderstanding the concept given can falter your assignment. Re-read your assignment many times so that a conclusive idea can be attained on the concept that you should write.
Pick an organization-Many people can make mistakes here. People consider that assignments are broad and try to fit in details to the size of the assignment. Although assignments may take topics in general, not providing proper content will make the paper look baseless. So take up an organization, be it specific or general, and start the topic on it. Gather details about the organization so that you may have a clear idea of the next steps that need to be written as well as proper content that needs to be provided in the assignment. You can even write about the organization to complete the assignment since you don’t have to search for examples of instances.
Research in detail- This is perhaps the most important part of the assignment. Gathering details, facts, information, and ideologies about a company are important in writing an assignment. It should also include the prospects and possibilities of the organization, and this provides the necessary content for your assignment. Complete your research and cross-check it before starting to write your assignment.
Gather real-life details- The best example is always a real-life one. Quote and write on real-life examples and their effects, so that it resonates with your content. People love to read content on real-life incidents and at a certain point, understand that you have profound knowledge on the issue.
Frame a timeline- In case of a company’s growth or fall history, frame a timeline on all major incidents and write content based on it. Framing timeline helps in the proper understanding of the incidents and gives proper ideas on how to write.
Place sentences properly- Learn to play with your words. Proper words, if not placed, don’t have an effect at all. Write engaging content that keeps the reader hooked, but also provides information on the content. Use synonyms and unused words to gather attention, while providing facts and numbers to give information.
Look for mistakes and errors- After completion of the assignment, read your assignment over and over again. You’ll find unnecessary content and text that can be reduced as well as mistakes that can be rectified. You’ll know yourself when no more content can be re-edited and that is when your assignment is complete.
In case of serious assignments, you can ask for a second opinion or help from experts in gathering details and writing content so that the assignment is crafted perfectly.
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