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Topic : Product Marketing Techniques
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Business & Strategy

Posted in Job Site : Ma Foi Randstad
 
Created by : vibhav Kumar, Marketing Executive, Sri Balaji Enterprises  | 10 04 2010 19:17:15 +0000
Industry : ConstructionFunctional Area : India(Markets)
Activity:  558 views;  last activity : 12 14 2010 14:02:14 +0000

Whats the difference between Traditional Marketing Vs Modern Marketing in 21st century? 

 
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Today in 21st century where most of the Indians companies and leading marketers still believe that traditional marketing is still good and effective because marketers have the power but in modern marketing users have the power. another difference is that in traditional marketing marketers focus in branding but in modern marketing marketers have to think about passionate users and lot many difference are there according to marketing experts but my viewpoint and study says that traditional marketing gives huge profit margin then modern marketing. Modern marketing are not much effective because its costly for the consumers still. Lets say example  a common men/women wants to purchase 1 kg salt. So many brands are available there in the market. he went nearby on small shop and ask I want 1 kg salt. shopkeeper give him 1 kg salt of one particular brand. he ask i want another brand then shopkeeper told him this one is good and better then what you asked. Customer think ok whats the difference salt is salt whatever brand may be and he purchase. why because salt is low end product but in the case of high end product say laptop, mobile or you want to purchase a flat or house hear customer gather knowledge which one is better because hear investment is more. Its only dilemma...reality is that the knowledge given to the customer is given by the marketer. another very good example to prove my point is that during recession or economic slowdown builders selling their flat at 15 lacks to 20 lacks and they are making huge profit but if recession is not comes in to the picture they sell the same at 40 lacks to 60 lacks. name is different product is different but product reaches to the customer in the same way only traditional whether you purchase laptop, flat or salt...traditionally....     


By vibhav Kumar, Marketing Executive, Sri Balaji Enterprises  10 04 2010 19:17:15 +0000
 
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Both systems are good & mostly depend upon the target area & customer.
By SHRIKANT MANOHAR DANKE, Project Manager, Phadnis Infrastructur Ltd  | 12 14 2010 14:02:14 +0000
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We are using what is suitable to the Local markets. When the country is not completely developed, how can we use modern marketing systems. Let the people develop, let the society develop, let the country develop and along with this development, develop the systems.. Change does not occur over night. India is going to be the world leader soon. We all just have to work towards it.

India is seeing an 8.5% growth this year according to ET and this is most probably going to increase in the FY 11 to 9% as stated by the IMF. Mr. Pranab Mukherjee and We also should be happy with the growth. Retail Industry has just now started to pick up. Service industry is also doing well off. The concept of Services and Retail is a very new concept and as they are growing, it is clear that the marketing efforts whether new or old are holding them up to the mark.

So a strategic marketing system should be/is being applied in the marketing systems which suits and caters to the needs of the society. 

Thank you


By V B Sree Krishna Dutta, Content publishing, Deloitte Touche Tohmatsu  | 10 08 2010 16:33:38 +0000
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Ok Mr Kaustav Saha....Question of Selection or rejection doesn't come first but my question is different. Indian companies are ready for modern marketing or still they have to continue with traditional method. you are supporting of traditional marketing but now market is competitive. customer always looking for alternative. If marketers don't give option. customer is always looking for cost effective solution.Now you can't say customer be in the line with the market or perish. now companies have to think according to customer taste and preference.
By vibhav Kumar, Marketing Executive, Sri Balaji Enterprises  | 10 06 2010 08:45:38 +0000
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Please go through the debate once. Its confusing, too different many questions are been asked. Do correct it.

According to me today companies are shifting from traditional marketing to modern marketing. This can be seen in todays retail outlets and malls. And online marketing being another mile stone in modern marketing.  


By Ravi Lakshman, Project Leader/Managing Consultant, GKC  | 10 05 2010 12:40:26 +0000
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Look Vibhav.....It's not that I'm supporting traditional method of marketing as such. To convey my opinion, I need to take a stand. The basic base over which so called "Modern" method of marketing stands is not to reject a theory or procedure just because it is old. Initially, after the Industrial Revolution, Market was Product-driven but today marketing is Customer driven. In my previous post what I wanted to say is that, we should not reject a theory just because it is being used for long (Traditional methods of marketing is not a single theory but number of theories which are in use for a long time and it need not mean that all the theories are obsolete). For example: Most of the Consumer Durables are market driven but products such as fossil fuels are still product driven.

So, the basics are simple. Do whatever it takes to make your balance sheet look good (for now as well as time to come). I used the words "time to come" just to be in line with the present legalities that Companies need to follow.

We must have gone through several books which tried to make us understand the difference between marketing and sales. But ultimately, Marketing is all about sales. We think of the customer because we believe that will lead to increase in "SALES". We think of the customer satisfaction because if the customer is happy, they are going to buy more of the same product or at least be loyal to it and ultimately will lead to higher "SALES". 

And Yes, Vaibhav, there are products for which customers need to be in line with the market and mostly they are conspicuous goods like diamonds. It's not that diamonds are rare. But it is being marketed in such a way that people perceive diamonds as rare stuff and consider them as a status symbol or an ego-booster.


By Kaustav Saha, Executive - HR, Calcom Cement India Limited  | 10 15 2010 20:29:37 +0000
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Well....Market don't give you options.....Be in line with the market or perish.....So the question of selection isn't coming in first place....

And...yeh I Agree with Ravi....Question seems to be a bit confusing....A little grammatical correction will do....


By Kaustav Saha, Executive - HR, Calcom Cement India Limited  | 10 06 2010 07:36:16 +0000
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