Market Hunting and Marketing
“A plain fresh bread, its crust shatteringly crisp. Sweet cold butter. There is a magic in the way they come together in your mouth to make a single perfect bite”- well said by Ruth Reichl. This has an immense undertaking in the arena of the market, a zone where the possible transaction of money and services takes place.
Have you ever thought about the flavors added to your food that are relished by your tongue? Likewise in order to sense the aroma of a market, the obligatory flavors like Hunting and Marketing have a metamorphic role in the business.
Let’s have a look at the savor of market.
Hunting is an essential element in business. Hunting would aid to dive into the business world to understand the rhythm and hierarchies of a market. Hunters commonly called ‘Doers’ act as an agent in the market. People often consider good sales representative to be hunters. Sales forces are the Doers in marketing. They get their sales energy through ‘hunting’ new opportunities. Hunters can be described as an independent (with a lot of initiative) and solution-driven. They tend to focus on big deals and love growing from one to the next as soon as they close their current prospect. Sometimes hunting can recall the early old age image of humans fighting for survival. If they don’t hunt, they don’t eat– and your sales team will assuredly go hungry for a certain period of time. In order to hunt successfully, the sales team must know the ground in which their services or products are brought to, a backpack which has adequate brainstorm ideas and innovative thinking and last but not the least a charisma which could create anticipation within customers.
Once you have gathered resources in hunting, the next footstep is to pay a way for the effective utilization. The agile way to reach the services or products to customers is through an effective company that encounters with a systematic marketing system. A company is bound to have strong competitors. Marketing is the fundamental skill of being able to promote your company in a positive way that it would delight the customer by persuading them to buy our products and services. With the prevailing marketing methods, finding the right one would rely on the company to flourish. Even though the prevailing marketing methods are helpful, the key factors such as innovative thinking and creativity are essential in this booming industry. The biggest mistake in the thought that marketing is just about one thing. In fact, Marketing is everything as the customer encounter in our business including advertising, general reviews and opinions of other consumers and the customer service they receive. Even after the service, the feedback has a major impact on customers. Everything has the possibility or the slight potential to influence the choice of consumers through marketing.
Evolution of marketing
Marketing has gone through mainly 5 phases over the course of years. It started off as “the simple trade era” during the pre-industrial revolution. This was when everything was made or harvested but was only available in limited amounts. This era was not very successful and was the stepping stone to the improved marketing business we have today.
Next on the list came the “production era”. This was during the industrial revolution (1860s-1920s). The big change that happened here in relation to marketing was the production amount. They realized that previously the limited supply had been the problem. So they began mass production. Not only did mass production increase the availability of the products but also increased the choices. This started off the concept of competition, however, was a successful era as there were not that many alternative options available.
After that, we have the “sales era” (1920s-1940s). The concept of competition which was initiated in the industrial revolution era became a more serious crisis. This is when real competition between companies started and the choices were different at different places, meaning companies had other companies to face. Although during the previous phase, mass production was very effective, here it was not very useful. Regardless of the amount you make, the varied choices and options were more important.
After World War 2, there happened to be a huge economic downfall all over the world. This is when the “marketing department era” (1940s-1960s) was introduced. With regards to marketing, this was the most important era. Companies started to realize that their connections with customers were not enough to build a relationship. They realized that building this relationship was crucial for the growth of the company. By doing so, the company might get more about the needs of the customer. From here on, customers had the power in the marketplace as their needs were put in first. Company marketers started the strategies that are still used today, for example, advertising, sales, promotions, public relations etc., to grab the attention of the people. THIS IS THE MOMENT OF REALISATION THAT MARKETING IS THE BACKBONE OF COMPANIES AND WITHOUT MARKETING, COMPANIES WOULD NOT EXIST.
The last phase, which started in the 1960s and is still playing today, is the “marketing company era”. This era started off when the whole idea of marketing was widely accepted all over the world and was found to be extremely successful. In brief, the concept of marketing became keeping the customers’ needs in front and this era was all about that.
The Influence Of Social Media
The growing trends of social media compelled the marketers to think about networking along with the functional areas of traditional business. Marketers tend to grab the attention of customers by connecting through social media around the world. The expansion of technology facilitates marketers to reach consumers in 24/7 time span through a variety of medium. Traditional approaches to marketing has been outdated not only because of the emergence of social media, but also the difficulty to accomplish the methods like door to door campaign and so on. As communication plays a crucial role in business, the social media platforms like Facebook, Instagram, Twitter, LinkedIn etc. will make ease to build trust and interact with right audience in the right way, as fast as possible.
What do I think is the future of marketing?
Marketing will grow and develop more and more as new strategies and methods are established to be effective. As you can tell marketing has developed so much and the change was not sudden, but in fact very gradual. The epicenter of the reason for the development has always, and I think will always, be due to the needs of the consumer. Businesses and marketing strategies have to improve constantly according to what the customers like and want. This is going to be the future of marketing. Always putting the customer first was something that has maintained all throughout the years and I believe innovative thinking and new ways to present products and services is what will expand the business industry and according to that expansion, new strategies and methods of marketing will be developed.
How do I build my network?
When you are trying to draw the attention of customers, first and foremost, building a strong connection and exploring the opportunities are very important. It is easy to get on the right track if you are able to surround yourself with amazing people.
Here are certain ways to build a better relationship:
1. Plan Ahead
As a part of your weekly tasks, make time to connect with new people, reconnect with the old contacts, and bolster the bond.
2. Be an Aspirant
Communication is an impressive tool in business. While meeting new clients, try to find out their needs and seek out cues for ways you can help them out.
3. Rely on Technology
Technology has a boundless influence over society. Making them aware of the influence of technology on one’s life is inevitable.
The world of a market is mainly enriched with the two components – Hunting & Marketing.
SO KEEP EXPLORING…ALL PROGRESS TAKES PLACE OUTSIDE THE COMFORT ZONE..!!