29 Apr
Ever wonder what the difference between Traditional Marketing and Modern Marketing?
Marketing in a nutshell is creating awareness and demand for products/services. The Traditional marketing in a quick overview was a manufacturer with a product or service – a bunch of middleman including traditional advertising (print, radio, tv) and customers. Roughly 65% of all the money in the product mark up was spent within all those middlemen.
Modern marketing has a manufacturer and consumers. There is the direct to consumer route. The middlemen are still there but have been simplified and have undergone lots of changes. Publicity through modern communication tools (print, tv, radio, cell mobile, internet) are providing the end consumers convenience and ease of getting information about a product or service. The mark up costs to consumer has decreased because of the consumer’s ease of getting access to the product without all the middlemen.