MarkEdge_Traditional Marketing and New Age Marketing Striking Balance_IIM Kashipur_Kunal Delwadia

8/13/2019 MarkEdge_Traditional Marketing and New Age Marketing Striking Balance_IIM Kashipur_Kunal Delwadia

1/5

G10 (RH), IIM, Kashipur, Uttarakhand, 244713

Phone: 08191898029

E-Mail: [email protected]

Kunal Delwadia

18thAugust 2013

Traditional Marketing and New AgeMarketin


2/5

Striking The Balance 18thAugust 2013

IIM, Kashipur

2

Marketing is essentially anything

you do to promote and grow your

business including advertising, publicity,

sales, merchandising and distribution. In

this day and age, the basic structure has

two categories in which to spend your

marketing budget money through

Traditional Marketing and New Age

Marketing.

There is an ongoing battle between these

types of marketing, which is better?

Which offers greater benefit and values?

The truth is, both methods can be

beautifully used to convert customer base

into the significant profit making value

creation for the company, at the same

time, satisfying the needs and value

proposition of the customer. However, the

key to making the right allocation of

marketing funds properly understands the

target market and the benefits of the bothmethods.


3/5


IIM, Kashipur

3

Traditional Marketing: Back to Roots Traditional Marketing utilizes strategies like

direct sales, TV, Radio, Mail, Print

Advertisement, Coupon books and Print

promotional materials like catalogs or

brochures. Traditional Marketing is an art of

selling; in broader terms, it creates value for

its customers by reaching the particular

group of consumers, person-to-personselling.

Back To Roots

Since British ruled India, we have seen

different marketing concepts hide behind

the efforts of freedom fighters in a hope of

free India. Each freedom fighter made its

own way to reach to the people, used

strategy to connect to them and capture the

mind of the Indian masses making them the

follower of their ideology. Here the product

was an idea. Two different characters, Late

Bhagat Singh and Mahatma Gandhi made

Brand out of themselves.

Both of them created their own base of the

brand follower on the basis of their

distinguish strategies, totally devoted to the

needs of their follower base. Late Bhagat singh used strategy; bomb the British Parliament,

surrendering, sending the desired message during the court proceedings to connect to people through

print media, a conventional way of marketing and reaching out to potential brand followers.


4/5


IIM, Kashipur

4

On the other hand, Mr Gandhi, using the non- violent, non- cooperative moment as its potential

strategy to connect to the people, democratically by pooling together the resources, with the purpose

of achieving or securing certain benefit or advantage which given to people can not get individually

and with purpose of promoting certain virtue and values such as self help, mutual help, self reliance

and general goods of all. Resulting in increasing revenues for the in house production of goods and

textile. Both of freedom fighter used potential print media and public gathering as their distribution

channel to reach to their potential Brand followers. Setting an example of best conventional way

of marketing where the place and time played a vital role to convert their idea in to potential support

for the Brand.

A New Age Marketing:Evolving in to capturing consumer base with connecting to their

culture/Life.

As India become free, over the period of time

preferences of the people shifted, the

significant change was seen after theliberalization era of Indian economy.

Allowing free market to provide the

competitive bids over the product,

competitive market was opened for

telecommunication, automobile, IT and

many more. These have completely changed

convectional thought of marketing concept and targeted the consumer base with new age

marketing concept, converted consumers needs in to wants and demand, increased salary levels

changed consumer buying patterns. Allowing consumer with wider product base. A new age

marketing concept focused more on the capturing the mind and connecting to culture, life style o

the consumer rather than the selling, by the time, the art of marketing shifted from selling the to

creating potential product based on the bases of consumers preferences, needs and creating value

proposition for the money they spend on the product. IT revolution provided the access to more

products, shifting purchase point from convectional physical shops to online shopping.


5/5


IIM, Kashipur

5

In the late 90s, introduction of the Internet changed the perspective of the new age marketing,

and provided with much more measurable results allowing brand to analyze the consumer

behavior, more refined decision making by using the quantitative real data and qualitative

results, the ability to drill down in to more demographic to accurately reach to the target

market. Social media, which is essentially word-of-mouth marketing, social media allows to

directly communicating with groups or even individual consumers. All the data results are

available very easily, accessible to any size of the business, allowing potential brand to build

direct relationship with your customer via social media and communities. Allowing brand to

make marketing message on the fly. As India changed over the period of time so does the needs

and product base, subsequently political parties capture the mind of potential voters by the

marketing mix of conventional and new age marketing concepts.

Striking The Balance: Conventional and New Age Marketing.

Before the development of the Internet, marketing a product or a service was pretty cut and dries

TV, radio, mail and direct sales. Now that the age of Internet has swooped in, the majority of

consumers expect a customized marketing message with value. So which is

it? Is New Age Marketing better than traditional marketing or vice versa?

As the data analyzed in the current scenario, A New Age marketing concept

adopted by the potential political leaders, the best example of the New Age

Marketing Concept, Mr Naredra Modi, Making himself a Brand, putting

Brand BJP under his leadership, Capturing the voters mind through the

conventional as well as the new age marketing. Allowing access to the voter

in proper proposition of public gathering, radio, banners, press conferences

and intensive social media marketing, penetrating the market with heavy TV advertisement. It is a

matter of debate that weather the Gujarat NAMO Model really stands to the claim or its the

intensive marketing mix penetration in to the market of voters. However, it clearly indicates that

striking the balance between the conventional and new age marketing will lead the brand to success.

In the end decision is incorporating with market research in to the marketing plan help the brand to

achieve potential target market.

Documents

MarkEdge_Traditional Marketing and New Age Marketing Striking Balance_IIM Kashipur_Kunal Delwadia