Traditional marketing and online marketing share many things in common at the same time they do not. Each type of market carries its own special techniques to promote its brand and business. In today’s society both methods are highly appreciated as it creates the balance in a society. But due to the COVID-19 traditional markets are suffering a major loss to the point that they are at the edge of bankruptcy; nationwide lockdown has cause many casualties for the business owners for them to suffer a big loss, especially at the time of religious holidays. When it is a peek time for businesses to earn a profit. On the other hand, Online markets are being recognized on a daily bases especially due to the nationwide lockdown. Customers are starting to trust online market, as they are able to shop, and have their ordered item timely delivered. Online markets are becoming more convenient for people, as they can browse the mobile application or a website anytime they want. Customers can shop as much as they want just by sitting at home. There are many different, yet similar strategies that are being used in traditional marketing and online marketing. Both traditional market and online market mostly focuses on their business plan that they have created, which mainly emphasis on 4 major aspects, which include merchandising, pricing, sales and promotions, location.
In order for traditional market to get their business running, they have to spend triple times more money than online businesses. Traditional market suffer a loss on a different types of advertisement, even though they bring in the business, yet they suffer a loss as their customers are limited, to its surrounding location. On the other hand, online market spend less money on advertisement due to the massive audience available from around the world. With less budget spend on advertisement online market makes more profit than traditional market. Traditional market have to spend their money on brochures, direct mail, billboards, magazines, newspaper, catalogues and etc., to earn their target audience attention. In contrast, online markets do not have to spend so much money as they use digital marketing resources that are available to use, such as, Facebook, Twitter, Instagram, and etc.; to spend less money and gain more benefits from it.
In today’s market condition online market is the best option as it will bring in more business with profit, also business owners will suffer less damage to their businesses. The cost they have to pay to promote their online business are much less than the amount it will cost them to promote their businesses as a traditional market owners. It is best to focus on online market, as a business owner, because it will allow you to interact with your target audience. Promotion and sales can attract more clients to your businesses, also location is not important as the ordered item will be deliver through a courier anywhere around the world.