Importance of marketing in digital era | Dark side of marketing
From the business point of view, we can define marketing as the actions
taken by firms to increase their sales or increase their brand value
is known as marketing. But marketing is the term not only used in business
sectors but also in others such as NGOs (to raise funds), politicians(for
votes), etc. But in the business sector why marketing is becoming much
more necessary? Globally companies spend 1 trillion$ on marketing
and if we see only Indian companies, they are spending around
1 lakh crore rupees on marketing. While there are some disputes
around it but according to some historians, the term marketing started in
1500 BCE, Since the invention of marketing its modes are developing in a
rapid manner. Marketing has four basic principles price, place,
product, and promotion which are also known as the 4 p’s of marketing, the
strategies of marketing mainly revolve around this.
WHY MARKETING IS
IMPORTANT?
For the new startups, to come into the competition, grow their identity in the market, to build their brand marketing is much more necessary, while the companies which grown-up and already build their brand don’t need marketing? The answer is yes because today there is a huge competition between the brands having the same target group of marketing so to make our position constant in this competition is necessary for all the brands whatever their market value is. Apple is a better example of it, Apple is the company having the highest valuation in the world but still, Apple is spending nearly about 65$ million dollars on paid ads. In today’s market startups are focusing to make brands and increasing brand value so for that, they preferred the marketing most.
IMPACT OF TECHNOLOGY ON THE MARKETING
Before the era of social media companies were mostly using newspapers and
magazines for the ads, in the 1990s tv ads became a powerful tool of
marketing, due to digitalization and when the wave of social media had
started, a new term had arisen and that was the
social media marketing. Today if we see about the trending
marketing mode that is the social media marketing the only reason behind
this that how the social media marketing becomes such a powerful tool of
marketing was the 4G revolution when the internet became cheap people had
started to spend their lot of time on social media today the average time
that the people spend on social media is 3-4 hours per day because
of this it became a better platform for marketing and this type of
marketing is known as digital marketing. Every business whether it is
small or big is mainly focusing on digital marketing. According to a
source digital marketing is in the top 10 demanding skills in the world.
The digital marketer’s average earning is near about 10-12 lakh per annum.
While some groups are selling their courses marketing they are getting
huge responses. Some people are looking towards marketing as a need and
the people who have much more traffic on their social media handles had
started their marketing companies and earning huge profits.
DARK SIDE OF MARKETING
Though people are spending a lot of time on social media many of them use these social media sources for a valid purpose, they are not wasting their time but they are investing their time on social media. If someone is using this platform for a valid purpose and if any ad is getting distracted so it creates a lot of negativities towards the ads. We can take an example of students who are studying with the help of a source like YouTube They faced this situation lot of times and the ads which they face are generally relatable to that age group, which adds can cause a lot of distractions to those students. The source of social media platforms’ earnings is mainly the ads that promote the relative products. Marketing produces consumerism and encourages us to buy the products and the services by using solid strategies of marketing. Not only for digital marketing but also for the other modes of marketing, it has a lot of negative points if the companies promote their products with TV ads by using any theme and if any community or anyone got hurt by that theme so in such cases there is very high probability of creating controversy and it can destroy the image that firm or that company which was promoting their product or service through that add.
Though the term marketing is useful for the companies and the consumers who get to know about the new products or the services in the market. While marketing has some benefits also has many negative points. as the marketing will be going to be much more necessary the marketers will have high demand.