4P's of Marketing Mix

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Marketing mix is the term of the usage based on 4P’s which are Product, Price, Place and Promotion. In the marketing point of view marketing mix is well-known as a foundation in terms of creating strategies for the company. In business perspective, electronic commerce is one of the most trending topic that been talking amongst marketers around the world (Nezamabad, 2011). Here are some aspects about the impact of internet on the marketing mix :

1. Product

Product is one of the most important thing in business especially when internet coming in and bringing up new concept of products for instance: e-ticket, e-book, games, etc. Nezamabad (2011) on his research stated that the products in e-commerce has been modified way too extraordinary with more innovative because of internet. Since e-commerce is being more popular now, it doesn’t mean that the traditional marketing mix will not been used however, it is still exist and have variety in products range. Chaffey & Bosomworth (2012) mentioned that internet can also provide new core values of the product in the marketplace.

2. Price

In terms of pricing, Nezamabad (2011) stated that price can stand as stimulus for customers to make a decision for online purchasing. Internet also contribute in terms of creating a pricing comparison between other businesses which is e-commerce tend to offer lower price and lower cost in the marketplace. It clearly be seen that consumers have had in mind that online price is cheaper than physical store so they sometimes prefer e-commerce price. The benefit of internet to the marketing mix especially price is about the time-saving through online system, Nezamabad (2011). Moreover, based on Chaffey & Bosomworth (2012), internet also helps support transparent pricing system in the market which consumers can decide and making comparison of the price, services, or products they looking for.

3. Place

Internet has been supporting e-business in many ways including place, internet help people to creates new place where people can sell their services and product worldwide and allows everybody can access it. No matter where ever you are and when would you like to purchase something, internet helps consumers to reach the place where all e-commerce exist which is “website”. Seller can put all of their products through collective platform which more beneficial and save cost compare to physical store, Pogorelova, Yakhneeva, Agafonova & Prokubovskaya (2016).

4. Promotion

Promotional mix method is really often used by business to reach its objectives. Nezamabad (2011) mentioned that, “ A promotional mix includes advertising, personal selling, sales promotions, and hypermedia”. The growth of internet based promotion is really rapid which sometimes more efficient compared to traditional promotion such as TV ads or printed advertisement. In web 2.0 technology as internet base system makes company more easier to reach their customer. The impact of internet to promotion based on Pogorelova, Yakhneeva, Agafonova & Prokubovskaya (2016)research is sales promotion can transform into social media call to action, e-mail marketing, web-conferences and webinars where targeting its consumers who tend to having their time through internet. On the other hand, Nezamabad (2011) claimed that businesses also looking for mix method which is a combination between traditional and internet based promotion to reach their target market.

References:

Chaffey, D., & Bosomworth, D. (2012). Digital marketing strategy. Implementation and Practice.

Nezamabad, M. N. (2011). The impact and benefits of Internet on marketing mix. Australian Journal of Basic and Applied Sciences, 5(9), 1784-1789.

Pogorelova, E., Yakhneeva, I., Agafonova, A., & Prokubovskaya, A. (2016). Marketing Mix for E-commerce.