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. This concept stood the test of time for all marketing professionals across generations despite attempts of improvised versions. And as a leading digital marketing company in Mumbai, we at SySpree vouch for the fact that this holds for the digital avatar too. Here’s our remix – the 4Ps of digital marketing.
With the hypothesis that even in this age, this theory holds, 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.
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 like the internet. It’s the propagation of a brand presence by the use of one or more forms of electronic media. It’s a break away from traditional marketing such that it employs dynamic tactics that adapt and change based on real-time results.
The 4Ps of digital marketing explained by the top Digital Marketing Company in Mumbai
- The first P: Product
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.
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 that is not true. The products here are the underlying goods, services, or concepts that the platform is trying to market and that the website by itself is a marketing tool. A simple example of products promoted through digital marketing could be an online store such as Amazon, Lazada, or Flipkart.
- The second P: Price
Moving on, second P: Price. Out of our experience in the field of digital marketing, we can 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 for very little time and very 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 finding out the same.
- The third P: Promotion
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 seeing something plastered across a billboard or in a newspaper. It provides users with a comfortable and immersive experience that 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.
- The fourth P: Place
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 consistently engaged in surfing on the internet, so it makes complete sense that we focus on that digital aspect with regards to marketing strategies. Digital marketing is that engine that drives the businesses of today to never before seen platforms in growth and success.
Like we said at the beginning of this blog, the old concepts are alive and have stood the test of time despite the change in preference of the medium wherein consumers are more titled towards digital marketing rather than traditional marketing. And if digital marketing is what you are interested in, do read up our articles on What is Digital Marketing?, and What does a digital marketing agency do? These are complete guides where you hear it from the horse’s mouth. It is our experience that we share as we grew to become the best digital marketing company in Mumbai!