Tag: Modern Marketing Bangalore University BBA Notes

Color plays an important part in the psychology of marketing and branding and can influence people’s perception of a brand’s personality.3 It’s more important to pick a color that supports the personality of your brand than it is to try to instill certain feelings in potential customers since everyone has different experiences and opinions.

While there are generalities we can make about colors and what people associate with them, colors and our affinity toward them have a lot to do with our personalities, upbringing, environment, and experiences.

One recent study on how adults perceive color showed that more females than males chose brown as their overall favorite color. But it was still one of the three least favorite colors for both genders.

Some of the key characteristics associated with brown in color psychology include:

• Feelings of warmth, comfort, and security. Brown is often described as natural, down-to-earth, and conventional, but brown can also be sophisticated.
• A sense of strength and reliability. Brown is often seen as solid, much like the earth, and it’s a color often associated with resilience, dependability, security, and safety.
• Feelings of loneliness, sadness, and isolation. In large quantities, it can seem vast, stark, and empty, like an enormous desert devoid of life.
• Negative emotions. Like other dark colors, is associated with more negative emotions.

Reverse marketing is the concept of marketing in which the customer seeks the firm rather than marketers seeking the customer. Usually, this is done through traditional means of advertising, such as television advertisements, print magazine advertisements and online media. While traditional marketing mainly deals with the seller finding the right set of customers and targeting them, reverse marketing focuses on the customer approaching potential sellers who may be able to offer product.

Rather than actively promoting a specific brand, product or service, reverse marketing aims to encourage people to seek out a business, product or service of their own accord.

In other words, reverse marketing doesn’t exist to convince someone to buy something. Instead, it causes intrigue and attracts interest.

Leenders and Blenkhorn define Reverse Marketing as “an aggressive and imaginative approach to achieving supply objectives. The purchaser makes the initiative in making the proposal.

Aside from traditional methods of reverse marketing, this technique is also used in B2B markets. In this instance the buyer (business) will take the initiative to approach the supplier (manufacturer) with its needs. This tactic is often used by large companies in order to decrease redundancies in their supply chain and decrease costs. The concept of reverse marketing also corresponds with Supply Chain Management. The strategy of reversing roles in some cases, has been very successful. In 2001 Richard Plank and Deborah Francis published an article studying the impact reverse marketing has on the buyer-seller relationship.

Uses

Improve brand image

Companies that feature advertising on their companies’ principles, social responsibility and ethical profile create customer loyalty because customers believe they are not supporting a mass-producing socially reprobated conglomerate.

Build relationships with customers

Once the customer recognizes your brand or company as an authority, they do all the searching and find your product through all the help and advice you have offered them. This way through the relationship that was constructed over time, they develop confidence in your firm to offer them benefits and useful products or service.

Cuts out “hard sales” and abrasive tactics

Sales tactics push for the purchase of products designed to fix specific problems, but the attraction-marketing model enforces the building of relationships and ensures rapport so the customers’ needs are met.

Some of the points to keep in mind while crafting a Reverse Marketing campaign are:

• Do a genuine evaluation of your business’s current image and your target consumer groups. Once you have understood this, try to understand what is important for your target consumer and what they value.
• Once you have understood the above, tell them about your product or service.
• Close the sale but not before you give your consumer something of value.

Virtual marketing is essentially just another name for digital marketing or viral marketing. All three of these terms simply mean marketing that is done in a virtual or digital space. It is marketing, without physical presence.

Virtual marketing is one of the most popular forms of marketing, rising in conjunction with the wide use of social media across the world.

Simply put, virtual marketing is a term used to describe online advertising. Common formats include email marketing, social media marketing, display advertising, blogs, and other digital formats.

Virtual marketing serves as a contrast to traditional advertising methods, such as print and broadcast. Because virtual marketing relies on clicks, impressions, hits, and other data, it can be easier to measure a conversion for a virtual advertisement rather than a print newspaper ad.

Virtual marketing is not necessarily limited to virtual businesses (e.g. Amazon.in), but it is possible to use virtual marketing exclusively, especially for an online business. Someone who sells jewelry on the shopping site Etsy, for example, probably wouldn’t place an advertisement in a local paper. Instead, she might use display ads on affiliate websites and a personal blog or a Pinterest account to promote those products.

Several companies, both small and large, rely on virtual marketing strategies to engage with users over the internet. Content marketing which includes the creation of blog posts, infographics, games, and other pieces helps businesses develop a more recognizable brand online. These methods are often paired with a social media campaign on platforms such as Facebook, Twitter, and Pinterest in order to drive traffic to a website or online store. Companies may also utilize email newsletters to keep customers updated on promotions and events.

Virtual, viral or digital marketing has many forms, but some of the most popular include content marketing, social media and pay-per-click (PPC) advertising.

Digital Marketing Categories

• SEM (Search Engine Marketing)
• SEO (Search Engine Optimisation)
• PPC (Pay-per-click)
• SMM (Social Media Marketing)
• Content Marketing
• Email Marketing
• Influencer / Affiliate Marketing
• Viral Marketing
• Radio Advertising
• Television Advertising
• Mobile Advertising