Traditional Marketing vs. Digital Marketing: A Comparative Analysis

Question

Task: How do negotiation and communication theories explain the success of an inventor's pitch to investors?

Answer

INTRODUCTION

Marketing is the basic method in the business which helps to seek the attention of the people. This can be accomplished by using two methods such as traditional marketing and digital marketing. The description of traditional marketing and digital marketing, customer touch points and omnichannel nature of customer journey and benefits of data analysis to the marketers are discussed in the report.

TRADITIONAL MARKETING AND DIGITAL MARKETING

Traditional marketing is a classic method of marketing and digital marketing is a modern method of marketing. Traditional methods have been developing for ages and digital is a new one. Both have their advantages and disadvantages and usage of marketing systems depends upon the type of people and the business (Lawrence, et al 2018). The comparison of traditional marketing and digital marketing can be done using the 4 Ps of marketing. The four Ps of marketing are product, price, place, and promotion. These are essential for marketing a product or service and it is a combination of different factors that controls while creating a marketing strategy.

Product

It is a good or service that is used for marketing to the target audience. For example in the case of traditional marketing, the car manufacturer will market their new model using TV but in the case of digital marketing, a software company provides a free trial version of the mobile application to users for visiting their website.

Price

It is a cost of the product. For example, in the case of traditional marketing, a retail store advertises a fixed discount on items during the seasonal sales whereas in digital marketing prices of the products are changed according to the demand and behavior of the user.

Place

It is where you sell the product and distribute the channels to reach the customers. In the case of traditional marketing, a local mobile shop uses flyers to promote the products whereas, in digital marketing, the online clothing store sells the products worldwide using an e-commerce website.

Promotion

It is how the product is advertised. Using promotion, the product can achieve an effective campaign that reaches the target audience. In the case of traditional marketing, a real estate company uses TV ads during an event whereas in digital marketing an online retailer uses social media such as Face book and Instagram to promote their fashion trends.

The comparison of traditional marketing and digital marketing using the four 4Ps is listed in the table.

Aspects	Traditional marketing	Digital marketing
Product	Traditional marketing uses physical products by presenting with brochures, billboards, etc.	Digital marketing uses digital products and services by videos, websites, and apps.
Price	Only fixed price is used and it is difficult for tracking the ROI	Pricing can be changed based on the real-time data analytics
Place	Physical stores, billboards are used for marketing	With the presence of website, social media and e-commerce platforms digital marketing is done
Promotion	For promotion TV, radio are used which has less target and slow response	Promoting using the email marketing, online adds which has high target and faster response.

CUSTOMER TOUCHPOINTS

Customer touch points are various actions that are directly connected with the customer and the ordering process. This is used to influence the experience of the customer and improve the customer journey (Yilin, et al 2023).

OMNICHANNEL NATURE OF THE CUSTOMER JOURNEY

The omnichannel customer journey includes the interaction between the customer and the organization with multiple touchpoints for the entire customer lifecycle (Both and Steinmann 2023).

The actor involved illustrating a customer touch points and the omnichannel nature of customer journals is Amazon subscriber.

Customer touch points

• Product list

• Shopping cart

• Product check out

• Payment

• Confirmation of order

• Shipping information

• Product tracking

Omnichannel customer journey:

• Product review

• Reorder

• Customer support

From the above example it is clear that the Omni channel nature of customer journey includes the interaction between the Amazon and the customer to create a flawless experience.

BENEFITS OF DATA ANALYSIS TO THE MARKETERS

Analyzing customer data provides collective information on customer preferences and behavior. Based on the analysis, the sales of the products, and recommendations of the products for the customers can be altered in real-time (Al Adwan, et al 2023). This can be applicable by using the software to analyze the data. This helps marketers to change their marketing methods and helps improve productivity.

Let us consider an Amazon. They use different offers to sell the products on their e-commerce websites. The price of the products is changed based on a certain time and situation. This will influence the customer to buy the products (Charles, et al 2023). Using the browsing history of the customer, the company will understand their preferences for that they are using the recommendation engine. When the customer search for the product it will the results will be generated based on their browsing history by considering the pricelist and the brands. So the customer will not be disappointed on searching for a product. To improve the customer experience and their engagement with the website, they use Amazon Prime to deliver the product on the expected time. When the product is delivered to the company they have strong trust in the Amazon. Also, the company uses feedback from the customers to understand the quality of the product. When the customer is not satisfied with the delivered product they will post feedback and it will be analyzed by the company to know the quality of the product. Then the low-quality product will not be recommended for the other users. This will improve the quality of the products sold on the Amazon. All these benefits are achieved by analyzing the data and they can be changed in real time too. Based on the requirement of the customer, and query Amazon will respond to ensure the satisfaction of the customer.

CONCLUSION

Traditional marketing is different from digital marketing. Based on the requirement of the product marketing it can be chosen. Both have pros and cons in their marketing strategy but it is good to choose the best one on a requirement basis. Touch points are important in the Amazon. To improve the experiences of the customer, marketers achieve more benefits in analyzing the data.

REFERENCES

Al Adwan, A., Kokash, H., Al Adwan, R. and Khattak, A., 2023. Data analytics in digital marketing for tracking the effectiveness of campaigns and inform strategy. International Journal of Data and Network Science.

Both, A. and Steinmann, S., 2023. Customer experiences in omnichannel retail environments: a thematic literature review. The International Review of Retail, Distribution and Consumer Research, pp.1-34.

Charles, I.I. and Uford, I.C., 2023. Comparative Analysis and Evaluation of Business and Financial Performance of Amazon. Com: A Three-Year Period Critical Review of Exceptional Success. European Journal of Business, Economics and Accountancy, 11(2), pp.69-92. Lawrence, S., Deshmukh, S. and Navajivan, E., 2018. A comparative study of digital marketing vs. traditional marketing. IIBM'S Journal of Management Research, pp.112-121.

Yilin, Z., Fayoumi, A. and Shahgholian, A., 2023, May. Understanding Online Customer Touchpoints: A Deep Learning Approach to Enhancing Customer Experience in Digital Retail. In 2023 9th International Conference on Information Technology Trends (ITT) (pp. 193-198). IEEE.