SMART and Traditional and Contemporary App to Marketing

• Setting SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals in marketing is crucial for clarity, accountability, and efficiency. They help you define clear objectives, measure progress effectively, and ensure that your efforts contribute directly to broader business strategies. By setting achievable targets with specific deadlines, SMART goals prioritize tasks, optimize resource allocation, and drive continuous progress towards achieving desired outcomes in your marketing initiatives.
• What differs contemporary approaches of marketing to a traditional one?

  • Traditional way only present their products to their customers. What you see is what you get. Walay say ang customers.
  • In contemporary approach, the customer is the center of our business. We use the customer to market our products.
• SPECIFIC – you need to be clear on what you want to accomplish.
• MEASURABLE – the goals should be quantifiable. For example, generate one lead per month.
• ACHIEVABLE – the target should align with your business goals.
• RELEVANT - means being aligned to the purpose of your business.
• TIME-BOUND – set time frame and/or a clear deadline for achieving your goals.
• Marketing Concept – It refers customer-oriented. It puts customers in the middle of the marketing process, finding out customers’ needs and wants, then satisfying those needs better than the competitors. In this approach, the marketer says that the customer is always right and his needs and wants should come first.
• Societal Marketing Concept - Emphasizes social responsibilities and suggests that to sustain long-term success, the company should develop a marketing strategy to provide value to the customers to maintain and improve both the customers’ and society’s well-being better than the competitors. An example of this might be a business considering an eco-friendly way of producing its products.
• Relationship Marketing Concepts - It is about investing in your customers to form long-lasting connections that go beyond simply buying a product. It is building a bond with your customers that makes them feel passionately about your brand, your people, and the product or service you sell. Examples of relationship marketing is thank customers through a social media post or with a surprise gift card.
• Difference Between Traditional and Contemporary approaches to marketing: In Traditional marketing, the main goal was selling a product, making a profit, all while reducing the cost of production. With contemporary approaches to marketing, the consumers’ needs are the priority and business operations revolve around that.