Greetings to all!!
“Business has only two functions- Marketing & Innovation.”
The marketing of products and services of a business using Digital Medias and platforms are known as Digital Marketing. The main objective of using Digital Marketing is to promote the business to different online and digital platform.
Different platforms are used to promote products like SMS, Search Engines, Emails, Websites, Social Media and many more.
Have a look at Basics of Digital Marketing!
The 5C’s Digital Marketing
to rule a business. In today’s’ competitive market the complexity of processes has achieved outstanding attention. Also, business depends on one another to stand in the market, this tendency is known as marketing-mix.
5C’s of marketing are used to analyze the key areas which are involved in the marketing decision for the business. This includes:
The company includes the analysis of the factors that need to be improved in a product line and market. These types of analysis are done on regular basis. A good tool to find your companies strength and weakness is ‘SWOT’ analysis.
SWOT stands for Strength Weakness Opportunities and Threats. Strengths and Weakness are the internal part of the company whereas Opportunities and Threats are the external ones.
- Strengths: Innovative products, expertise and procedure.
- Weakness: Lack of technical support provider and average product quality.
- Opportunities: A market which is led by weak competitors.
- Threats: A new competitors.
Determine if there is an outside source or third-party help that can help the company such as distributors, suppliers etc. This analysis deals with understanding the shared interests that help is the company’s growth.
Determine what needs from which clients you’re trying to satisfy. A few areas to research would be the market segments, benefits the customer wants if the value of the benefits outweighs the costs, frequency of purchases, the number of purchases, retail channel, and needs to be based on trends over time.
It helps to analyze the present and the future of a certain business. This analysis focuses on 3 major aspects namely that include mapping out the competitors, products sold by them, chalking out potential opportunity along with the understanding threat that competitors might impose in the near future. It also includes the ratio of market share as compared to competitors and identifying focus is to enjoy the largest market share.
Determine if there are any limitations due to political issues, economic issues, social impacts and technological developments. This is known as PEST analysis.
“Pest (Political Economic Social Technological)”
Hence the above details will be beneficial to you. The whole article is on the 5 C’s of Digital Marketing. If you have any query related to this then mail us at firstname.lastname@example.org