Kunal Delwadia

G10 (RH), IIM, Kashipur, Uttarakhand, 244713 Phone: 08191898029 E-Mail: kunal.pgp2013@iimkashipur.ac.in

18th August 2013

Traditional Marketing and

New Age

Marketing

Striking The Balance

18th August 2013

IIM, Kashipur

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 both methods.

Striking The Balance

18th August 2013

IIM, Kashipur
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 selling. Back To Roots Since British ruled India, we have seen of consumers, person-to-person

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.

Striking The Balance

18th August 2013

IIM, Kashipur
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 the liberalization Allowing competitive competitive free era bids market of Indian to was the economy. the for and product, IT market over provide opened

telecommunication,

automobile,

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 of 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.

Striking The Balance

18th August 2013

IIM, Kashipur
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.