Decades ago, Neil Borden coined the concept of marketing mix with the 4Ps: Product, Price, Promotion and Place. For the many who have gone through marketing bibles, the genesis has always been the 4Ps a concept that stood the test of time for all marketing professionals across generation despite attempts of improvised versions.
With the hypothesis that even in this age, this theory holds true, in this blog, we attempt to apply the marketing mix in the digital marketing space. With due apologies to the knowledgeable folks, we will begin by explaining the concept of digital marketing at the cost of being repetitive. Simply put, Digital Marketing in its pure form, as the name suggests, is carrying out all activities of marketing within the digital space mainly the newer media ie internet. It’s the propagation of a brand presence by the use of one or more forms of electronic media. It’s a breakaway from traditional marketing such that it employs dynamic tactics that adapt and change based on real time results.
With the stage set, we should now talk about 1st P: Product. ’Digital Marketing’ has been all the buzz for quite some time resulting in the inception of a few buzzwords such as SEO (Search Engine Optimization), PPC (Pay per click), email marketing, RSS and with the latest addition being social media marketing. But that said, what is the product? A myth here would be that the product is supposed to be the ‘Website’ that the tools are directing a user to but not really true. The products here are the underlying goods, services or concepts that the tools are trying to market and the website by itself is a marketing tool.
Moving on, second P: Price. Out of our experience in the field of digital marketing, we can definitely make a statement that getting this P right is the key to success. Remember, the user here has an immediate choice to search for competitive prices among your peer competitors (and probably 100s of them) in exchange of very little time i.e. few seconds and very little effort i.e. few clicks. But brands have to be careful, depending on their industry, if they want to mention their prices explicitly or rather let the targeted lead to find out the same.
Time for the 3rd P: Promotion. One of the major forces behind the success of digital marketing is that it allows customers to interact with your business rather than simply see something plastered across a Billboard or on a newspaper. It provides users with a comfortable and immersive experience which instills trust and loyalty in them and causes them to convert from users to actual lifelong customers that may even transform into advocates, thereby exponentially growing your business. But, would making a website suffice as a promotional tool? What more? So here we are forced to repeat the buzzwords: SEO (Search Engine Optimization), PPC (Pay per click), email marketing, and social media marketing. We promise to go into greater depth on each of these in our later blogs. Stay tuned.
Over to the last P: Place. The internet is the core medium of digital marketing due to how well online presence translates to profits for businesses. Most of the world is constantly on the internet; so it makes complete sense that we focus on that digital aspect with regards to marketing strategies. Digital marketing company in thane is that engine that drives the businesses of today to never before seen platforms in growth and success.