The Wide Scope of Marketing

Marketing is critical to the success of a business in any industry. It helps drive awareness and sales. The marketing process relies on various strategies and methods to help marketing teams reach their audience and goals. 

The marketing landscape in India is among the fastest growing in the world. Additionally, because the country has the second-largest global population, it offers a unique opportunity for brands to expand their reach. First, it’s essential to understand marketing, how it works, and the various marketing processes and strategies that engage consumers.

An overview of marketing

While marketing has always been important for businesses worldwide, technological advances have changed how companies view the practice. Technology has led to the evolution of digital and social media marketing careers. A robust online presence is becoming increasingly necessary for businesses to be seen and remain competitive.

When comparing data from June 2021 to June 2024, the number of hires across India for marketing professionals grew from 2,243 monthly hires to 4,226 [1]. Opportunities continue emerging for marketing professionals, partly thanks to the use of data, which allows companies to track the value marketing campaigns accurately provide. 

Marketing scopes

The focus of a marketing campaign varies according to the company's scope. A tech company selling software will have different needs and a different plan than a city trying to grow its tourism industry. The following are different scopes that, regardless of industry, all rely on marketing to reach their goals.

Goods

Goods are often the first thing considered when it comes to marketing. Physical products are promoted across television, social media, billboards, and other mediums. Competition is fierce when it comes to selling goods, so effective marketing is required to gain an advantage.

Services

Like goods, companies selling a service must develop effective marketing strategies to gain a competitive advantage. Many companies offer a combination of goods and services, so they can often use similar avenues and techniques to drive sales. Companies providing services with a successful marketing outreach can then transition into selling products thanks to the brand awareness that the company has already developed. 

Properties

Buying and selling properties requires a lot of marketing. Real estate professionals have to work hard to identify potential buyers. One unique aspect of property marketing is staging. While you may not think of interior design when it comes to marketing, businesses exist solely for staging homes to present properties in a way that makes them more attractive to buyers.

Information

Information and ideas are also products, and you can market them. Marketing strategies can make educational institutions, websites, instructional videos, and guides profitable. Technological growth has expanded the accessibility of information, and people are now willing and able to learn more than ever before. 

Events

Marketing is a powerful practice that can influence what people buy and decide to do in their free time. Promoters' job is to get people interested in their events. From events at local trade shows to national sporting events on television, they need these promoters to maximise viewership and interest. This also opens up opportunities for the event to gain sponsorship from other companies, who benefit from having their logo and products seen by viewers throughout the event.

Places

The tourism industry in India saw 6.44 million foreign visitors in 2022, a rise from 1.52 million in 2021 and another 1.731 billion domestic tourist visits [2]. Cities, states, and the country have much to gain financially. These places rely on marketing to promote their location as a desirable place to visit. Events and attractions are a driving force for tourism, giving people a reason to stay. 

Experiences

Experiential marketing is a powerful tool for companies that provide goods and services but want to take it one step further and make it an experience. When a product becomes an experience and something people can connect with, it helps build customer loyalty. Having people engage with your brand is also a form of marketing. Getting people to talk and spread the word about their experience will bring more attention to your product.

Organisations

Organisations work extremely hard to build their brands. Successful organisations market themselves in a way associated with positive experiences and emotions. Marketing and public relations teams are primarily responsible for determining a company’s reputation and public perception. 

The marketing process

Let’s break the marketing process down into five key steps: 

1. Define the objective

Before creating a plan, you must first determine the goal. Doing so ensures that the strategy solves the specific objective and aligns appropriately with the company's overall vision and brand. 

2. Perform market research and analysis

Research is essential for establishing the target audience and what it wants to see. When done well, market research allows you to design a marketing approach that is more engaging and up-to-date with current trends. Being adaptable and evolving with technology helps companies stay relevant. 

3. Develop a strategy

Once you set an objective and complete a market analysis, the next step is to develop and build an effective marketing campaign strategy. Consider important factors such as the target audience’s needs and how the product or services meet them. Also, consider the product’s price and features to ensure you can reach the correct audience.

4. Implement the campaign

Once you complete all the preparation, the next step is to roll the campaign out to your audience. Implementing the marketing campaign can use various platforms or media streams. Brands will pay close attention to ensure their message is consistent. 

5. Analyse the results

Following a campaign, it’s critical to analyse the results to gauge its success and use that insight for future campaigns. Both successful and unsuccessful marketing campaigns provide invaluable information to optimise outreach. 

Next steps in marketing

On Coursera, you can discover highly-rated marketing courses that can help you start or advance your career in marketing. For example, you may bolster your CV with the Meta Social Media Marketing Professional Certificate, which teaches you how to build social media marketing campaigns. 

You can also earn a Bachelor of Science Degree in Marketing online from the University of London’s Royal School of Business and Management, which can help you gain a global perspective of the impact of marketing.