Marketing is not a new concept because it has been there for past many decades the only thing that has changed is the way of doing marketing. Marketing which was done few years or decades back is called traditional marketing while marketing which is done in the present era is called modern marketing, however, today’s marketers sometimes also use traditional marketing wherever it is relevant. In order to understand both concepts better let’s look at differences between traditional marketing and modern marketing –
- The first and foremost difference between the two is that while traditional marketing focused on selling the products which were produced by the company whereas modern marketing first looks at from customer satisfaction point of view and then produce the product according to needs of the customers subsequently selling those goods to target customers.
- Another difference between the two is that while traditional market used to think from company’s point of view as their whole focus was on selling the goods to the customer no matter whether they required the goods or not. Whereas modern marketing is customer oriented as under this type of marketing company first assesses the need of the customer and then the product is customized to suit the customer needs.
- While traditional market used mediums like flex boards, pamphlets, radio and television for advertising whereas modern marketing not only uses traditional medium of advertising but also uses modern methods like social media marketing, internet marketing and other such means to advertise the products.
- Traditional marketing was limited only to marketing or selling department and other department had no role to play in it whereas modern marketing is not limited to marketing department only rather the work in the whole company is done keeping in mind the marketing concept, so whether its planning department, research department, finance department all have something to offer for marketing department of the company.
- Traditional marketing is one dimensional as the only target of it was to sell the goods for profit whereas modern marketing is multidimensional as apart from selling goods for profit it also lays emphasis on customer satisfaction, planning, after sales service and many other variables.
As one can see from the above that there are many differences between traditional marketing and modern marketing while traditional market was applicable few years back but if company tries to adopt traditional marketing in current scenario then it will be a failure, however the right approach is to have mix of both traditional as well as modern marketing techniques and use it for maximum benefit of the company.