Marketing and Advertising have become an integral part of any business. You might offer the best of product and services but until people know about the same, you won’t be able to find customers and hence profitability. But is it about just finding and informing the customers about your product or is there more to it?
Role of Marketing:
An organization undertakes Marketing to:
- Understand the market and the customers in order to identify the current and potential needs
- Curate the appropriate product mix (products and services) basis the market requirements
- Research the consumer to identify how much the consumer is ready to pay for the said product mix. Develop pricing strategy basis this understanding.
- Analyze the customer-their socio-cultural needs, their preferences, their environment
- Communicating your product and/or service with the right target audience using the apt media mix. Ensure apt digital presence.
- Build strong relationships with customers
- Building a strong network for product distribution and after-sale services
- Manage post-purchase customer satisfaction
- Ensure sales by acquiring customers and converting walk-ins
- Identify USPs (unique selling proposition) for the product and/or service
- Driving profitability
In short, the major aspects of marketing are Product, Price, Promotion, Place, People, and Process (6Ps)
Role of Advertising:
The promotional aspect of Marketing entails Advertising. The main role of advertising is:
- Create awareness about the product and/or service
- Research and analysis of target audience to discover the insights that form the basis for the creative to be used in advertising communication
- Analyzing the target audience to identify the motivations that inspire them to make the purchases
- Identifying the right messaging and media mix
- Drive traffic to showrooms (walk-ins)
- Maintain synergy in terms of messaging across media
- Create Brand positioning for the product
- Create Brand Evangelists (loyalists)
Masters in advertising and marketing
Getting masters in advertising and marketing ensures better understanding as well as improved competencies in not only coming up with innovative strategies for success in the market but also being updated with new tools and technologies to stay relevant in the market. In addition, it gets us better prepared to face the continuously changing pandemic-induced market scenario. Other advantages:
- Graduates get exposure to the globally connected digitally driven business environment.
- Students gain proficiencies in Digital marketing- Search Engine Optimization (SEO), Social Media Marketing, Content Creation, etc.
- Exposure through hands-on training in live projects, international exchange programs, internships besides interaction with industry experts offers valuable experience in crisis management.
- Competencies in Web and marketing analytics give extensive insights not only into customer behavior but also in measuring the effectiveness of marketing efforts.
- Students also learn to analyze online traffic, conversions, and handling of online inquiries.
- Proficiency in the latest marketing automation and CRM tools.
- Integrated marketing strategies along with knowledge in the use of the latest Media planning tools ensure better campaign management and (ROI) returns on investments
- Students also get to learn consumer psychology and behavior, statistics, consumption habits, etc.
With a master’s in advertising and marketing, you are ready to face any challenges that the companies face owing to an economic downturn. Do not waste time and just register for your masters today.
