Timestamps:
00:00 – Introduction
00:56 – Why is the increasing popularity of digital marketing a surprise? Not only because it is more accessible but also because the pandemic caused us to spend more time online. Digital marketing is related to establishing a brand online. Pretty much all forms of non-internet-related marketing are traditional marketing.
02:48 – The four P’s: Place, Product, Price, and Promotion. All kinds of marketing are related to these four things. There are 3 more P’s in digital marketing: People, Process, and Physical evidence. These are not included in traditional marketing because it is difficult to track analytics for traditional marketing.
06:13 – What do the four P’s mean in traditional marketing? Promotion is marketing like ads. Product is the aesthetic built around it. Pricing is how much it costs. The place is the experience.
07:24 – Pros of traditional marketing. Traditional marketing is very diverse and can reach many people, while digital marketing reaches those who spend time online. Traditional marketing is also more likely to be remembered. It’s also more neutral than online marketing. Traditional marketing is much older and is more researched.
10:00 – Disadvantages of traditional marketing. The cost is too high and companies are unlikely to try something completely new. It also has to be tailored for each new city. Difficult to measure the effectiveness of traditional marketing.
11:05 – Pros and Cons of digital marketing. The lack of cost is a draw for online marketing, and it helps companies be more innovative. An increasing number of consumers spend time online. The process of distribution is much faster. Easy to personalize ads. Easy to monitor as well.
12:40 – Which one is better? Digital has a good cost-to-benefit ratio but both have their disadvantages. But they work best when working together.
14:24 – Conclusion and recap
Brief about The Maven Show podcast
In this episode of The Maven Show, the group discuss about Traditional Versus Digital Marketing, pros of traditional Marketing, the Disadvantages of traditional Marketing, Pros and Cons of digital marketing.
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