“Assignment no 1”

Principles of marketing

SUBMITTED BY :
Muhammad Ehtisham
ROLL NO: 2172032
BBA 8th Evening Section (B)
Department: Management sciences
SUBMITTED TO:
Sir Hanif shahzad
At
NATIONAL UNIVERSTY OF MODERN LANGUAGES
Submission Date : August 7, 2020
Question. What is Marketing pulling it all together? Describe the major trends and forces
that are changing the marketing landscape in this age of relationships.
Ans:
Marketing pull Strategy
Pull marketing is any method a company uses to generate demand for a product. This is
contrasted with “push” marketing, which is a strategy intended to sell out an existing supply of a
product. Modern pull marketing uses various media channels to generate interest about a product
or company, encouraging customers to seek out the product or company on their own. This is
especially popular and effective within Internet marketing, because pull marketing benefits
greatly from independent social behavior like word-of-mouth and the “viral” content effect.
Companies that produce or sells goods can use pull marketing to raise awareness about a product
before it becomes available for purchase. Though the results of the marketing campaign are not
certain until the product is made available, the manufacturer can save money on production costs
by producing fewer units of the product prior to launch and using the money they save to invest
in pull advertising.
Ideally, the demand will exceed the supply, and the company will be able to set a higher price
because of this. This is exactly what happened with Tickle Me Elmo. Tyco produced only a
small number of dolls to start but spent more time and money on market research and
advertising. The demand for the toy resulting from this advertising allowed Tyco to set higher
prices for their product simply because people were willing to pay more to acquire the limited
number of dolls available.
Advantages
There are several advantages to a pull marketing strategy:
 Ready to set up direct contact with buyers and construct customer faithfulness.
 More grounded dealing power with retailers and merchants.
 Spotlights on making brand value and item esteem.
 Buyers are effectively searching out the item, which expels a significant part of the
weight of directing outbound promoting.
 Can be utilized to test an item's acknowledgment in the market and get shopper criticism
on the item.
For online sales, pull marketing includes posting informative articles that educate customers
about how to choose the right product for their needs and tastes. It may also include cross
promotions with other websites that draw customers to your site. Strategic ads on related sites
also pull potential buyers to your offerings. The better you understand your target market, the
better you'll be able to identify demographics for online advertising and use your marketing
budget cost efficiently.
Tactics of pull marketing
First, you might use advertising and mass media promotion, such as placing radio or television
ads, distributing flyers, sponsoring sports teams or using social media to communicate with as
many consumers as possible. Your restaurant may want to start small by developing a social
media page and hanging flyers. As the business grows, you could put money into a few more
promotions. This strategy often takes up a significant amount of a marketing budget. Your
restaurant may want to start small by developing a social media page and hanging fliers. As the
business grows, you could put money into a few more promotions.
The strongest, yet typically the most difficult tactic to get started would be word-of-mouth
referrals, which involves your customers telling others about your product or service. If your
restaurant has good food and service, you are likely to get word-of-mouth referrals. Some
businesses offer incentives to customers for referring new customers, which typically include
discounts on future purchases.
Another tactic you might use a lot during holidays, or the end of a season is sales promotions
and discounts, which involves offering the product or service to the customer at a discounted
price. For example, your restaurant could offer free kid’s meals on Tuesdays to draw customers
in on that day of the week. If you have a slow time of day at the restaurant, you might also
consider running a special during that time
Marketing landscape
The marketing landscape has continued to evolve with every technological advancement. This
evolution offers businesses more opportunities to reach their target audiences in new and
impactful ways.
Marketing Automation
Research shows that nearly half of tasks done by paid professionals can be automated. Indeed,
marketing automation is the practice of utilizing software to automate these repetitive tasks.
Among companies that outgrew their competitors, 63% were using marketing automation to
enhance their marketing strategies.
Artificial Intelligence
Marketers are better able to dynamically automate customer interactions using artificial
intelligence technologies. According to the 2017 Economist Intelligence Unit Report, nearly
80% of business executives believe their work will be made easier with AI.
Experiential Marketing
Experiential campaigns engage customers through immersive, real-world events or interactions.
Marketers can implement several experiential strategies, including:
 Using stars to boost attendance
 Touring
 Augmenting the experience with technology
  Leveraging partner locations
Executive Branding
Executives need to brand themselves too, beyond overall company branding. Executive branding
might involve having a massive online presence, using motivational quotes, and highlighting
charity efforts.
Trends change marketing landscape
 A Focus on Brand Reputation
Building brand awareness and trust can help a business secure longer-term customer. I believe
that a continuous focus on brand and reputation through digital and physical outlets is going to
be vital in the years to come. With technology advancing, it's becoming easier for almost anyone to set
up a business online. It's also becoming harder for many consumers to make decisions about products and
services due to the vast number of options.

Brands that can own a niche, continually provide third-party validation and establish strong
credibility will likely be able to stay ahead. In the marketing and advertising industry, our
organization sees competitors crop up daily — many with very few clients and limited
experience. We find that continuing to leverage our strong client base through client
testimonials, earn national exposure through major media outlets and maintain a strong brand
presence through our digital assets allows us to hold our place as a leader in our industry.
 Customer Segmenting
Segmenting customers and communicating to each segment through a voice that speaks to the
specific cohort is becoming a standard for many brands. With all the data available to businesses,
it's becoming a necessity to perform the proper research on audiences and target customers the
correct way. This includes not only segmenting existing customers into proper buckets but also
segmenting prospects when looking for new business.
 Data Remaining King
Artificial intelligence, predictive modeling, machine learning — these terms are circulating in
the news every day, but what do they mean, and how do they benefit businesses? These
technologies all use data to forge a better path for solving problems and predicting outcomes.
They aren't just for Fortune 100 companies anymore, though. Data collection and data capture
are becoming a norm for small and midsize businesses as well. Many new tools are coming to
market to help drive value from data.
Through our work with local business owners, we've seen a significant increase in interest in the
data tracking and analysis tools we offer. Our organization uses demographic and sociographic
information to help determine audiences for social media to drive the best response. We also
employ algorithms to determine which colors work best for specific demographics based on a
specific advertisement.
  The Integration of Multiple Formats, Multiple Screens, and Multiple Channels
Digital marketing strategies will increasingly focus on giving a spark to brands via using
multiple formats (video, micro video, blogs, white papers, studies, articles, webinars, e-books,
live presentations, e-mail newsletter, etc.) and multiple screens (PC vs. tablet vs. mobile),
blending them with newer digital marketing channels. The priority will be given also to Google
+, Tumblr, Instagram and Pinterest, in addition to Facebook, Twitter, and to LinkedIn in B2B.
 Digital Literacy
As digitalization will progress, social media and technological literacy will become a must-have
skill for most jobs, not just in marketing. Professionals will be required to master content
development and its curation, information search, and aggregation of multiple data
points for decision making in real time. The digital landscape will become an even more
inseparable part of our professional and personal lives.

 Behavior-Based Data Decisions

The strategic approach to technology, big data, and cloud services, linked with the introduction
of location-based services, is expected to be the next “big thing” as it will enable progressive
companies to lead the digital ‘game’. At present, the priority is mainly being centered around
the collection, measurement and usage of behavior-based data that will drive new ways of
consumer segmentation, addressing new deeper consumer insights, which will result in the
smarter, and thus more effective, allocation of marketing investments, more individualized
communication, and the creation of more personal experiences. The cleanness and the quality of
a companies’ data and their leveraging from multiple channels and sources, their storage and
automated processing in the cloud sphere, and their instant accessibility, will remain a key
challenge for marketers this year, in addition to the integration of on-line and off-line activities,
and the excellence of their execution.