Marketing Objectives 101
Posted by Daniel Shlifer on Tue, Jul 27, 2010
Marketing objectives may have remained the same but the marketing methods have changed dramatically.
What every business should know about the revolutionary shift from Outbound Marketing to Inbound Marketing.
I believe that fundamental marketing objectives haven't change too much over the past 40 years.
Marketing principles as defined by "Wikiversity":
"Marketing seeks to satisfy the needs of people (customers or the market) (creating a sense of usefulness or utility) through the exchange process.
The Marketing Mix or the "4 P's" are:
• Product
• Price
• Promotion
• Place (or distribution)
These are employed to satisfy a target market' or target demographic (the pool of potential customers).
Example:
• Product: Procter and Gamble introduces a new toothpaste designed to taste good and fight cavities. Logo and packaging designed in bright colors to appeal to kids of elementary school age to encourage more tooth brushing.
• Price: $2.00, and discounted by means of coupons
• Promotion: television and radio commercials, magazine and newspaper ads, and a website; these use bright colors and happy music, perhaps an animated cartoon character for a fun and family-friendly attitude
• Place (or distribution): Supermarkets, drugstores, discount stores such as Wal-Mart
Target demographic:
• Mothers with kids who make toothpaste buying decisions for the family (advertising could be shown on children's programming, prompting kids to ask parents to buy the toothpaste)"
The Inbound Marketing Concept:
The inbound marketing objectives are very similar to those mentioned above in the wikiversity definition and example. The major changes are seen in concept, formulas and expectations.
Inbound marketing or attraction marketing is the conceptual antithesis of the more traditional, 40 year old outbound marketing.
The idea is simple:
- Outbound marketing equals “interruption” marketing. This older less effective process attempts to interrupt a given marketplace through traditional methods of advertising.
- TV advertisements
- Radio advertisements
- Telemarketing
- Billboards
- Print advertising
- Yellow pages
- Email broadcasting
Even though the marketing objectives may be similar, these are all good examples of interruption marketing where businesses were trying to stop you in your chosen path to deliver the message they wanted you to hear and understand.
- Inbound marketing uses a different concept & method that makes your message available when your target market is actively researching or searching your subject or topic. Successful inbound marketing also configures your message to be used again and again as it becomes available in more online locations. Adding the viral concept to your inbound marketing messages also make it easier for your message to be passed from one person or business to another with the power of a traditional referral.
The Inbound Marketing Formula:
The Inbound Marketing Components:
