Marketing mindset


Level: Intermediate 

Unlock your marketing potential with our transformative course. Learn marketing fundamentals, STP strategies, market segmentation, and gain the edge in diverse markets.

What is Marketing?

In this lesson, we will delve into the world of marketing and explore how it plays a crucial role in the success of businesses and individuals alike. Marketing is not just about selling products; it encompasses a broader range of activities, from understanding customer needs to creating and delivering value. Let’s dive into the core concepts of marketing and learn how to effectively communicate our offerings to the target audience.


What is Marketing? 

At its essence, marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services. It encompasses much more than just advertising or selling products. Marketing involves conducting research, understanding customer needs, creating the right product, positioning it effectively, and communicating its value to the audience.


Understanding Needs, Wants, and Demands:

Before delving deeper into marketing, it’s essential to grasp the concepts of needs, wants, and demands. A need is a basic necessity required by a person, such as quenching thirst or relieving pain. Wants, on the other hand, are desires that fulfill those needs. Demands arise when wants are backed by purchasing power. Customers make choices based on their perceptions of value, which is influenced by factors like positioning, branding, and pricing.


Creating Value:

To succeed in marketing, the key lies in creating value in the minds of customers. Value is determined by the customer’s perception of the product’s benefits relative to its cost. By offering unique features, high quality, or exceptional service, a brand can create differentiation in the market. Whether you choose a cost leadership strategy or a differentiation strategy, the goal is to make customers see the value your product brings.


Positioning and Branding: 

Positioning and branding play a pivotal role in how customers perceive a product or service. Branding establishes a strong identity for a product in the customer’s mind, while positioning ensures that the brand stands out amidst competitors. Apple and MI provide an excellent example of different positioning strategies – Apple focuses on offering high-quality, premium products, while MI provides feature-rich products at a more affordable price.


Applying Marketing Strategies: 

As a business owner, you must understand your target market and tailor your product or service accordingly. Depending on your target audience and business goals, you can choose a cost leadership strategy, differentiation strategy, or a hybrid approach. Communicating your offering effectively is equally crucial. Engage customers emotionally, showcase unique selling points, and convey the value they’ll receive by choosing your product.


The Power of Marketing for Individuals: 

Marketing is not limited to businesses alone; individuals can benefit from marketing skills too. For job seekers or professionals looking to advance in their careers, mastering the art of self-marketing can make a significant difference. Communicate your strengths, skills, and accomplishments effectively to potential employers or clients, and showcase how you can provide value to them.



In conclusion, marketing is an integral aspect of both businesses and individuals. Understanding customer needs, creating value through effective positioning and branding, and communicating your offering are all vital components of successful marketing. Whether you’re a business owner or an individual looking to excel in your career, mastering marketing techniques can open doors to success and growth. Embrace the power of marketing, and the results will undoubtedly be rewarding.

Types of Marketing

In this lesson, we’ll delve into the different types of marketing, drawing a comparison between traditional and modern approaches. Marketing has evolved significantly over the years, with the advent of the internet and social media revolutionising the way brands connect with their audience. Let’s explore the key differences between traditional and new age marketing and understand the potential of each strategy.


Traditional Marketing

In the world of marketing, there are primarily two categories: traditional and new age. Traditional marketing encompasses the traditional methods used in the past to promote products or services. These methods include putting up stalls in parks, distributing pamphlets, radio advertising, TV commercials, and other offline advertising methods. While these approaches have been effective in the past, they lack the precision and reach of modern marketing.


New Age Marketing

New age marketing, also known as modern marketing, encompasses all the online and digital marketing techniques available today. It includes social media marketing on platforms like Facebook, Instagram, Twitter, and TikTok. Search Engine Marketing (SEM), Pay-Per-Click (PPC) advertising, and Search Engine Optimization (SEO) are essential components of modern marketing. Additionally, email marketing, video marketing, and influencer marketing also fall under this category.


Inbound vs. Outbound Marketing

Inbound and outbound marketing refer to how businesses attract and engage with customers. Inbound marketing focuses on bringing customers to the business by offering valuable content and solutions to their needs. This strategy includes SEO, content marketing, and social media marketing. In contrast, outbound marketing involves reaching out to customers directly through methods like cold calling, telemarketing, and traditional advertisements. Inbound marketing is often preferred due to its targeted approach and higher relevance to the audience.


Influencer Marketing

Influencer marketing is a powerful strategy where brands collaborate with influencers to promote their products or services. Influencers have a loyal following on social media, and their endorsements can have a significant impact on their audience’s purchasing decisions. Brands leverage this influence to expand their reach and build trust with potential customers. Micro-influencers, with smaller but highly engaged audiences, are also becoming popular as they offer more targeted promotion.


Affiliate Marketing 

Affiliate marketing is another effective strategy where individuals or businesses promote products or services in return for a commission on sales. It has evolved from traditional commission-based models to innovative approaches, such as Multi-Level Marketing (MLM) and network marketing. Affiliate marketers can earn through referrals, driving traffic, or generating sales for the brand. It provides a win-win situation for both the brand and the affiliate marketer.



Marketing has come a long way, with traditional and new age strategies coexisting in the modern business landscape. While traditional methods still hold value for certain scenarios, the potential and effectiveness of new age marketing techniques cannot be ignored. Social media, online advertising, influencer collaborations, and affiliate marketing are revolutionising the way businesses connect with their target audience. To harness the true power of marketing, businesses and individuals must adapt to the changing landscape and leverage the most suitable strategies to achieve their goals.

STP in Marketing

In this lesson, we will delve into the fascinating world of marketing, with a special focus on the concept of STP – Segmentation, Targeting, and Positioning. To make our products and services accessible to a diverse population, we adopt a similar approach to cutting a cucumber into smaller pieces for easy distribution. In marketing, we break down the vast population of our country or the world into smaller, more manageable groups based on various factors. These factors encompass demographics, geography, psychographics, and actual behavior, forming the solid foundation of segmentation.



Segmentation is the process of dividing the population into distinct groups based on certain characteristics. The primary categories for segmentation are demographics, geography, psychographics, and actual behavior. Demographics include age, gender, family size, income, occupation, education, religion, race, and nationality. Geographic segmentation involves dividing the audience based on location, such as region, city, or climate. Psychographic segmentation looks at social status, lifestyle, personality, and mindset, while actual behavior segmentation focuses on real customer behavior, including price sensitivity, brand loyalty, and purchasing patterns.



Once the audience is segmented, the next step is targeting. Targeting involves selecting the specific segment or group that a business wants to reach and cater to. For example, a business may target individuals between the ages of 25 and 50, engaged in business, and educated up to the tenth grade or above. The choice of target audience depends on various factors, including the business’s products or services and its goals. Different businesses may choose different target audiences based on their unique offerings and strategies.



Positioning refers to how a business wants its customers to perceive it in their minds. It is about shaping the customer’s mindset about the brand or business. For instance, when I started my YouTube channel, my positioning was as a mentor who is approachable and can provide valuable knowledge to anyone seeking help. Positioning is often conveyed through a tagline or a unique selling proposition that encapsulates the essence of the brand.


Importance of Segmentation

Segmentation is essential because it helps businesses find their target audience more effectively. By understanding the specific characteristics of different segments, businesses can tailor their marketing efforts and messages to resonate with their desired customers. Knowing the target audience also allows businesses to identify the most suitable marketing channels to reach them, be it social media, search engines, or offline platforms.



Now, it’s time for your assignment. I want you to analyze and determine the segmentation, targeting, and positioning of your business or the product you wish to launch. Study your competitors to gain insights into how they operate, segment their audience, and target them. Identify the most suitable platforms to reach your target audience and craft a positioning statement that aligns with your brand identity. Share your findings and plans in the comments below and let’s learn from each other’s strategies.



Remember, successful marketing requires a thorough understanding of your target audience. By effectively segmenting, targeting, and positioning your offerings, you can maximize the impact of your marketing efforts and attract the right customers.

7 P's of Marketing

In the dynamic world of marketing, understanding the 7 Ps is crucial for building a successful business. These Ps form the foundation of marketing strategies and are categorized into four for the product industry and three for the service industry. Let’s delve into each of these Ps to unravel their significance and how they can take your business to new heights.



Delivering What Sets You Apart: At the heart of every successful venture lies the product or service offered. Understand your unique offering and conduct a competitive analysis to identify your differentiators. Evaluate your product features against your competitors and be open to incorporating service aspects to enhance your customer experience. Never underestimate the power of packaging, as it plays a vital role in influencing customer perception.



Striking the Right Balance: Determining the right price for your product or service can make or break your business. Conduct thorough research to analyze your competitors’ pricing and gauge the value your offering provides. Embrace strategies like the “99” or “101” strategy, where prices ending in “99” create an impression of being inexpensive, while “101” signifies exclusivity. Strike a balance between pricing and value to attract your target audience effectively.



Finding Your Market Reach: Place refers to the distribution channel through which you deliver your product or service. In the online world, Direct to Consumer (D2C) is a common strategy, while offline businesses thrive on multiple distribution levels. Analyze your competitors’ distribution channels and strategize accordingly. If you aim for nationwide reach, offline distribution may be essential to penetrate all regions effectively.



Creating the Right Buzz: Promotion involves marketing and communication efforts to promote your brand. Analyze your competitors’ promotional strategies and identify the channels they use. Plan a comprehensive marketing mix to reach your target audience effectively. Embrace digital platforms like Facebook and Google, or opt for traditional channels like TV and print media. Promotion is the key to building brand awareness and attracting potential customers.


Physical Evidence 

Crafting a Memorable Experience: For service-based businesses, the physical evidence plays a vital role in customer satisfaction. Create an inviting ambiance, whether it’s an office space, restaurant, or a salon. Ambiance, hygiene, and customer comfort all contribute to the overall experience. Pay attention to the small details that can leave a lasting impression on your customers.



The Face of Your Brand: The staff representing your brand are your ambassadors. Ensure that they are well-trained, knowledgeable, and presentable. Their communication skills and behavior influence customer satisfaction. Monitor your competitors’ staff standards and aim to surpass them. Investing in your people will lead to long-term customer loyalty.



Smooth Operations for Customer Delight: Process refers to the systematic operating procedures that ensure efficient and seamless operations. Design Standard Operating Procedures (SOPs) for each aspect of your business, from customer handling to service delivery. Smooth processes enhance customer experience, making them more likely to return and recommend your brand to others.



Mastering the 7 Ps of marketing is an essential step towards building a successful business. By understanding your product, pricing it right, selecting appropriate distribution channels, and promoting your brand effectively, you can create a compelling proposition for your customers. Moreover, paying attention to physical evidence, training your staff, and ensuring smooth operations will elevate your customer experience to new heights. Embrace these principles and witness the transformation of your business from ordinary to extraordinary. With a strategic approach and continuous improvement, you can outshine your competitors and build a loyal customer base. So, apply these principles diligently, and let your business thrive in the competitive landscape of the market. Good luck on your journey!

Market Research

Whether you’re an existing business owner looking to launch a new product or a new entrepreneur with a fresh idea, conducting thorough market research is crucial for your success. Market research helps you identify your target audience, understand their needs, and determine if there is a demand for your product. In this blog, we will explore the steps and strategies you can use to gather valuable market insights and increase your chances of building a successful product.


Step 1: Identify Your Customer’s Problem 

The first step in market research is to identify the problem your product aims to solve. Think about the core need your product fulfills and the specific audience it targets. This applies to both new and existing businesses. Understand who your potential customers are and what drives their demand for your product.


Step 2: Conduct a SWOT Analysis 

Perform a SWOT analysis to assess your product’s strengths, weaknesses, opportunities, and threats. Understand your internal factors, such as your team’s skills and available resources, and external factors like competitor reviews and customer feedback. SWOT analysis helps you identify your advantages and areas that need improvement.


Step 3: Analyze User Behavior 

If you have an existing website or app, leverage tools like Google Analytics to understand user behavior. Track user flow, pages with the highest engagement, and the most common exit points. Create hypotheses about user preferences and needs based on this data.


Step 4: Collect Customer Feedback 

Engage with your audience and collect their feedback through surveys, reviews, and direct interactions. Understand what they like about your product, what improvements they suggest, and whether they face any specific issues. This feedback will help you iterate and improve your product.


Step 5: Study your competitors closely. 

Analyze their online presence, reviews, and customer interactions. Identify their strengths and weaknesses. Use this data to find opportunities for your product or see how you can differentiate yourself from the competition.


Step 6: Implement Net Promoter Score (NPS) 

Utilise NPS to gauge customer loyalty and satisfaction. Ask your customers how likely they are to recommend your product to others. Understand the reasons behind their responses and take necessary actions to improve your product and customer experience.


Step 7: Use Data for Decision-Making 

Collect all the data from your market research and analyze it comprehensively. Look for patterns, trends, and potential opportunities. Use the insights to make informed decisions regarding your product, pricing, and marketing strategies.


Step 8: Understand Price-Demand Relationship 

Understand the relationship between price and demand for your product. Categorize your product into different segments based on their price and demand levels. This will help you determine the most suitable pricing strategy and target market.



Conducting thorough market research is an essential part of any successful business strategy. By understanding your customer’s needs, analysing competitor data, and using customer feedback, you can make informed decisions that will lead to a more successful product launch. Remember to keep a close eye on market trends and continuously improve your product based on customer insights. Implementing these market research strategies will help you increase your chances of building a profitable and sustainable business. So, get started with your market research and pave the way for a successful product launch!