During the 1990s, the resource-based view (also known as the resource-advantage theory) of the firm became the dominant paradigm. It is an inter-disciplinary approach that represents a substantial shift in thinking.[73] It focuses attention on an organisation's internal resources as a means of organising processes and obtaining a competitive advantage. The resource-based view suggests that organisations must develop unique, firm-specific core competencies that will allow them to outperform competitors by doing things differently and in a superior manner.[74]

Marketing’s principal function is to promote and facilitate exchange. Through marketing, individuals and groups obtain what they need and want by exchanging products and services with other parties. Such a process can occur only when there are at least two parties, each of whom has something to offer. In addition, exchange cannot occur unless the parties are able to communicate about and to deliver what they offer. Marketing is not a coercive process: all parties must be free to accept or reject what others are offering. So defined, marketing is distinguished from other modes of obtaining desired goods, such as through self-production, begging, theft, or force.


A key objective is engaging digital marketing customers and allowing them to interact with the brand through servicing and delivery of digital media. Information is easy to access at a fast rate through the use of digital communications. Users with access to the Internet can use many digital mediums, such as Facebook, YouTube, Forums, and Email etc. Through Digital communications it creates a multi-communication channel where information can be quickly shared around the world by anyone without any regard to who they are.[37] Social segregation plays no part through social mediums due to lack of face to face communication and information being wide spread instead to a selective audience. This interactive nature allows consumers create conversation in which the targeted audience is able to ask questions about the brand and get familiar with it which traditional forms of Marketing may not offer.[38]
For marketers trying to compete in this new digital medium, it’s incredibly difficult to surface your content above the competitive noise. While the amount of time consumers spend on web and mobile has increased dramatically, the amount of available content has increased exponentially. More digital content is created in a day than most people can consume in a year. With so many distractions and choices, your audience has a very short attention span.

This refers to the process of setting a price for a product, including discounts. The price need not be monetary; it can simply be what is exchanged for the product or services, e.g. time, energy, or attention or any sacrifices consumers make in order to acquire a product or service. The price is the cost that a consumer pays for a product—monetary or not. Methods of setting prices are in the domain of pricing science. [44]

From a model-building perspective, the 4 Ps has attracted a number of criticisms. Well-designed models should exhibit clearly defined categories that are mutually exclusive, with no overlap. Yet, the 4 Ps model has extensive overlapping problems. Several authors stress the hybrid nature of the fourth P, mentioning the presence of two important dimensions, "communication" (general and informative communications such as public relations and corporate communications) and "promotion" (persuasive communications such as advertising and direct selling). Certain marketing activities, such as personal selling, may be classified as either promotion or as part of the place (i.e., distribution) element.[47] Some pricing tactics, such as promotional pricing, can be classified as price variables or promotional variables and, therefore, also exhibit some overlap.

Inbound marketing refers to a marketing methodology wherein you attract, engage, and delight customers at every stage of the buyer's journey. You can use every digital marketing tactic listed above, throughout an inbound marketing strategy, to create a customer experience that works with the customer, not against them. Here are some classic examples of inbound marketing versus traditional marketing: 
If your company is business-to-business (B2B), your digital marketing efforts are likely to be centered around online lead generation, with the end goal being for someone to speak to a salesperson. For that reason, the role of your marketing strategy is to attract and convert the highest quality leads for your salespeople via your website and supporting digital channels.
Market leader: The market leader dominates the market by objective measure of market share. Their overall posture is defensive because they have more to lose. Their objectives are to reinforce their prominent position through the use of PR to develop corporate image and to block competitors brand for brand, matching distribution through tactics such as the use of “fighting” brands, pre-emptive strikes, use of regulation to block competitors and even to spread rumours about competitors. Market leaders may adopt unconventional or unexpected approaches to building growth and their tactical responses are likely to include: product proliferation; diversification; multi-branding; erecting barriers to entry; vertical and horizontal integration and corporate acquisitions.

Influencer marketing: Important nodes are identified within related communities, known as influencers. This is becoming an important concept in digital targeting.[43] Influencers allow brands to take advantage of social media and the large audiences available on many of these platforms.[43] It is possible to reach influencers via paid advertising, such as Facebook Advertising or Google Adwords campaigns, or through sophisticated sCRM (social customer relationship management) software, such as SAP C4C, Microsoft Dynamics, Sage CRM and Salesforce CRM. Many universities now focus, at Masters level, on engagement strategies for influencers.


Data-driven advertising: Users generate a lot of data in every step they take on the path of customer journey and brands can now use that data to activate their known audience with data-driven programmatic media buying. Without exposing customers' privacy, users' data can be collected from digital channels (e.g.: when customer visits a website, reads an e-mail, or launches and interact with brand's mobile app), brands can also collect data from real world customer interactions, such as brick and mortar stores visits and from CRM and sales engines datasets. Also known as people-based marketing or addressable media, data-driven advertising is empowering brands to find their loyal customers in their audience and deliver in real time a much more personal communication, highly relevant to each customers' moment and actions.[47]
What does it take to do that? Simply put, you have to take a step back for a moment. You have to analyze and understand the basic mechanics of your message and how to effectively reach a larger audience without losing your shirt. The secret to all of this? No matter what marketing strategy you use, if you don't have an effective sales funnel and optimize your conversions, you'll just be throwing money away.

Balancing search and display for digital display ads are important; marketers tend to look at the last search and attribute all of the effectiveness to this. This, in turn, disregards other marketing efforts, which establish brand value within the consumers mind. ComScore determined through drawing on data online, produced by over one hundred multichannel retailers that digital display marketing poses strengths when compared with or positioned alongside, paid search (Whiteside, 2016).[51] This is why it is advised that when someone clicks on a display ad the company opens a landing page, not its home page. A landing page typically has something to draw the customer in to search beyond this page. Things such as free offers that the consumer can obtain through giving the company contact information so that they can use retargeting communication strategies (Square2Marketing, 2012).[52] Commonly marketers see increased sales among people exposed to a search ad. But the fact of how many people you can reach with a display campaign compared to a search campaign should be considered. Multichannel retailers have an increased reach if the display is considered in synergy with search campaigns. Overall both search and display aspects are valued as display campaigns build awareness for the brand so that more people are likely to click on these digital ads when running a search campaign (Whiteside, 2016).[51]
Marketing is defined by the American Marketing Association as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large".[11] The term developed from the original meaning which referred literally to going to market with goods for sale. From a sales process engineering perspective, marketing is "a set of processes that are interconnected and interdependent with other functions of a business aimed at achieving customer interest and satisfaction".[12] How to Start a Social Media Marketing Agency (SMMA) 2020 - Digital Marketing Tutorial for Beginners
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