The evolution of modern marketing
What can you do to improve your brand?
summary
"After overcoming the coronavirus, the company's sales have recovered since last year. That's why in 2023 we want to put even more effort into marketing and aim for the next level."
I think there are many business executives who think this way.
On the other hand, some of you may be struggling to come to an answer to the question, "Should I focus on marketing first, or should I start with branding?"
In order to answer such concerns, this time we would like to share Alive's thoughts on the topic of " Should marketing take priority over branding ?"
After explaining the differences between marketing and vp manufacturing production email lists branding and the evolution of modern marketing, we will discuss which one should be prioritized, the reasons for this, and specific measures to take.
By reading this article, you will be able to correctly understand the difference between marketing and branding, and clarify which measures you should prioritize. We hope you will read it until the end.
The difference between marketing and branding
First, let’s review the difference between marketing and branding. To briefly explain the two, it goes like this:
marketing
" A general term for a wide range of strategies and measures, including market analysis, advertising, and promotional activities, carried out to sell many products and services efficiently. "
Branding
" Image strategies to help consumers better understand your products, services, and company, and to differentiate your company from its competitors "
The key to marketing is to thoroughly dig deep into the concerns and needs of potential customers, and then strategically develop products that meet the needs of the market and society, optimize production processes, and carry out efficient sales promotion and advertising activities.
On the other hand, the key to branding is to differentiate a product, service, or corporate image from those of other companies so that consumers can empathize with its special value.
Branding involves creating a system that enhances brand value by giving consumers a positive impression and a sense of trust through the concepts and designs that the brand conveys, and contributes to the long-term growth of the company.
The evolution of modern marketing
When talking about the priorities of marketing and branding, it is important to know how marketing has changed over time. Here we will provide a rough and easy-to-understand explanation of the evolution of modern marketing.
Marketing 1.0 ~ Product-Oriented Era ~ (1900s-1960s)
In the era of Marketing 1.0, the most important thing was to "mass-produce products and sell them as cheaply as possible to maximize profits." The 1900s, when the term marketing was born, was an era of mass consumption in which demand exceeded supply due to the effects of the Industrial Revolution.
As a result, the mainstream marketing strategy at the time was to reduce costs through mass production, lower product prices, and advertise through mass media such as television, radio, and newspapers.
Marketing 2.0 ~The Customer-Centric Era~ (1970s to mid-1980s)
In the 1970s, the world economy became prosperous and buyer-driven marketing became mainstream. This was the arrival of the Marketing 2.0 era. With the development of production technology, similar products became available on the market at low prices, leading to intensified competition. As the economy became prosperous and consumer needs became more diverse, the "if you make it, you can sell it" era came to an end.
In order to sell products, it became necessary to break down the concerns and needs of buyers and develop products that fit each of them. It was during this period that "market analysis," "targeting the market," and "differentiation from competitors" became important in marketing.