Examining Effectiveness of Traditional Marketing Practices in Today’s Competitive Environment

Examining Effectiveness of Traditional Marketing Practices in Today’s Competitive Environment

Introduction:

Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create an exchange that satisfies individual and organisational objectives (Kotler, 2003). Marketing is a combination of activities that help businesses to assess the market, consumers demand, pricing, advertisement, distribution and evaluate the competition. Traditional marketing consists of a deliberate, planned process; the marketing concept presumes that a careful identification of customer needs through formal market research precedes a structured development of new products and services in response to those needs (Webster, 1992). Marketing techniques helps in understanding the needs of customers and product development that provides customer satisfaction and profitability in the business. On the other hand, rapid growth in technology and globalisation changed the perspective of marketing practices in business organisations. For instance, increasing usage of digital marketing customers is more informed about available products and services. However, both marketing theories broaden the knowledge and emphasise the long-term perspective in business. Although, the facts show that traditional marketing activities have experienced a downfall. The purpose remains the same to focus on communicate with customers and acquire a position in the market. This essay will examine the concept of Traditional marketing, the transformation of marketing activities from Traditional to digital approaches, and an analysis of the effectiveness of Traditional marketing in a current business environment.

Understanding Traditional Marketing: 

The traditional marketing process used to be time taking for merely capturing customer attention. Newspapers, Television, Radio, Print Ads, Billboards, etc., were the most popular tools for targeting customers. Traditional marketing activity creates awareness about products and services and helps understanding consumers and competition in the market (Kapoor & Kapoor, 2021). In, traditional marketing the needs and wants of customers are being identified and satisfied through conventional channels. The basic concept of Traditional marketing is to understand customers preferences for a product, plan sales strategies against competitors, and develop effective communication with stakeholders. Traditional marketing also includes tangible tools such as business cards, posters, and brochures. Hence, companies that adopt traditional marketing practices care more about customers than their structure and try to satisfy needs (İslamoğlu, 2013).

Thus, traditional marketing aims to generate value for consumers and motivate them to buy the products by changing their perceptions. Traditional Marketing is known for the long-term impact on the consumers that influences their decision making. The traditional marketing approach firm should focus on customer wants and needs. Customers should organise in a particular market segment, and firms should develop products according to the needs of that segment. Firms should then organise their functional activities to satisfy the targeted criteria of consumers (Ahmad & Buttle, 2001).

Changing Role of Marketing from Traditional to Digital: 

Traditional marketing plays a vital role in the early stages of interaction between companies and customers; however, as communication grows and customers demand closer relationships with companies, digital marketing increases importance (Kotler et al., 2017). Hence, traditional marketing focuses more on generating interactions with consumers where digital marketing drives better marketing actions and offer access to consumers. Significant growth has occurred in this changing era of traditional to digital marketing. Hence, this has open more opportunities for businesses to expand their operation. Additionally, technological innovation such as smartphones, internet and social media has replaced the traditional ways of advertisement. So, these consider beneficial for businesses to reach a larger audience and increase sales. However, many people still prefer traditional marketing as both offline or online have their relevance and importance.

Furthermore, traditional marketing communication allows businesses to share relevant information about their product with their consumers. Conversely, with the help of the internet consumers can get information about products fast and easy (Kayumovich & Annamuradovna, 2020). Moreover, digital trends constantly impact consumers buying behaviour. Nowadays, both traditional and digital marketing practices are merging (Kotler et al., 2017). Thus, using both communications channels allow generating one way and two-way communication between businesses and consumers. Overall, digital marketing broadens the scop