The Marketing mix is a phrase
referring to the four marketing Ps.
The 4 Ps represent Product, place,
price, and promotion. All marketing
strategies revolve around this
marketing mix concept. The
introduction of the service
industry has resulted to the
introduction of process, physical
evidence and people into the
conventional marketing mix to makes
this know as the 7 P’s of
marketing.

The Product

The product may refer to a service,
merchandise or brand from which the
strategy has to be derived. All
strategies made around the product
must be based on the market
research done by an entity in the
interest of assessing the
requirements and needs of
customers. The strategy for digital
marketing can be categorised into
two parts. First is the decision on
the features on the product
necessary to meet the needs of
customers and the additional
features likely to supersede
expectation for additional
benefits.

The internet and Social media could
be utilised to acquire information
concerning the product for the
available and potential customers.
Indicators such as product ‘likes’
on Facebook, video reviews on
YouTube, etc. can be quite useful
in this respect. Some of the
additional benefits provided online
on products include the instruction
manuals, warranty, technical help,
etc, without any extra costs. The
internet is quite effective in
providing data on products. This
type of marketing research comes at
a lower cost in comparison to other
conventional approaches. Any entity
can apply this method for market
research by conducting web survey,
visiting feedback forums, blogs,
and other focus group. Sites like
Amazon and eBay have sections for
product reviews. Analysing this
information can be quite
informative.

Product and brand growth can be
compared; in order to advance in
online branding, it is important to
consider support groups available
online, product personalisation,
online assistance for customers and
an easy, convenient and secure
purchasing experience.

The Price

Digital platforms could influence
marketing strategy price mix by
enhancing transparency of pricing
and demystifying differential
pricing, allowing different methods
of pricing, utilising dynamic
auctioning and pricing methods and
allowing price pressure and
commoditisation.
Digital platforms have enhanced
transparency in pricing, and for
this reason, organisations must
comprehend online price elasticity
of demand prior to making a pricing
decision.

Place

In marketing, mix place identifies
the path on which products get to
customers. Any organisation wants
a channel that will get to as many
customers as possible at a low
cost. Internet marketing has
revolutionised the meaning of place
in the marketing mix. It is now
possible to sell a product globally
on the online platform, unlike the
conventional place where customer
reach was more restrained.
Distribution channels have also
changed because through the
internet, customers can buy
directly from manufacturer or
through intermediaries.

Promotion

In marketing mix this refers to
communication strategy in
marketing. It is used by business
entities to advertise their company
and products. Promotion may entail
advertising, public relations,
sales promotion etc. An
organisation’s communication
strategy determines the promotion
route taken. The internet has
proven to be a better communication
medium by which customers can be
reached on promoting the product.
Organisations are faced with the
challenges of determining the point
at which the cycle of purchase is
done online and the component of
promotion ideal for internet.

In summary the internet has
revamped the definition of the
marketing mix. Information is
readily available and the market
reach has been expanded. Small
businesses and sole proprietors can
take full advantage of the internet
now.


    2 replies to "Digital Marketing Mix Research"

    • David Monroe

      Wow! That is very informative Chris and really bring to light what the internet has done for marketing and media in general.

      I believe this is why the cost for advertising is skyrocketing in Google and Facebook because the big brands can afford the ad spend and drive the costs per click through the roof to compete.

      • christopherpaul

        HI David,

        Yeah it certainly seems to be a trend that the big player organisations hold all the cards and media giants pamper to their needs and wants! However as a little guy, I really appreciate your kind words and taking the time to read my blog post as I think when starting out with a new site this kind of networking certainly helps. 🙂

        Best wishes

        CP

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