MEANING OF TRADITIONAL MARKET:
Conventional marketing is defined as marketing that employs traditional channels or media for marketing communication.
It refers to a sort of promotion, or advertisement, including flyers, billboards, TV ads, radio commercials, print advertisements, newspaper ads, etc., in which firms are utilized in the early time to sell their goods.
Traditional marketing consists of four stages:
- passion, and
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MEANING OF DIGITAL MARKET
Digital Marketing is leveraging digital channels such as websites and social media as instruments for marketing communication.
If you use social media, you’re aware of the advertising in your feed—this is known as digital marketing.
- TARGET AUDIENCE IN TRADITIONAL MARKET:
You may reach out to local audiences via traditional marketing. Businesses that want to reach people in a specific place employ radio, television, and newspapers. You utilize local resources to reach out to people in your neighborhood whom you believe will be interested in your firm.
TARGET AUDIENCE IN THE DIGITAL MARKET:
With Digital Marketing, one can reach out to the intended audience, even worldwide, which increases earnings and helps the market.
- DOCUMENTATION IN TRADITIONAL MARKET:
Traditional marketing methods supply hard copies of the product(s) and service(s) descriptions that may be reread.
DOCUMENTATION IN THE DIGITAL MARKET:
Digital platforms describe softcopy via the website, or through movies, YouTube, and so on, which can be viewed whenever and wherever the consumer desires, thus eliminating the need for paper.
- INTERACTION WITH THE CUSTOMER IN THE TRADITIONAL MARKET:
Traditional marketing involves direct face-to-face engagement, which helps clients obtain rapid answers to their questions.
INTERACTION WITH THE CUSTOMER IN THE DIGITAL MARKET:
In the case of digital marketing, there is no direct interaction between the buyer and the seller; instead, a customer may only connect via phone calls or emails, which can be time-consuming.
⦁ MARKETING COST IN TRADITIONAL MARKET:
Traditional marketing is costly since it entails printing and radio/TV commercials, which add to the company’s expenditures.
MARKETING COST IN THE DIGITAL MARKET:
Because everything is online and the usage of social websites is free, digital marketing is less expensive than traditional marketing. If the firm has a marketing need, it might choose to use sponsored advertisements.