Like traditional marketing, digital businesses follow the 4P principles or the marketing mix model. Now, the question may have arisen, what is 4P?
4P is actually a powerful tool that can help marketers in defining marketing strategies. Marketers use this tool, including product, price, promotion, and place, to determine appropriate responses to their desired segments in the market. The marketing mix is those factors that are under management control and it can be claimed that most of the marketing plans and decisions are based on one of these 4 areas.
place :
In digital marketing, the Internet is the place where more than billions of people around the world have decided to connect. Either through a computer, a mobile device, a smart TV, or anything else that may be found.
price :
Online pricing is important. You must be competitive: on the Internet, pricing is clear and transparent. You don’t have to be the cheapest – but to compete, you need to make sure that your overall value proposition is compelling to the customer. If you overprice your product, then a price comparison site will soon highlight that fact.
product :
This is what you have to offer, your unique value proposition to your customers, of course a good product is the foundation of all successful marketing. But it is necessary only in the digital field. A product that provides tangible benefits and fills a real need in the market, something that leaves customers with a real sense of value. This work gives this freedom of action and a significant point to the marketers to do their work more effectively and usefully. It’s much easier to engage with consumers and convince them to buy when you’re promoting something that’s relevant and sustainable. In fact, if you are promoting a product online, if that product is not delivered or delivered incompletely, you better prepare yourself for a strong reaction from your customers..
Digital consumers are not quiet and shy, they are loud and aware. They will not keep the shortcomings of your business product to themselves, and in fact, they will shout it as loud as possible and get others to join them very quickly. Once this happens, you can Almost abandon your market ambitions and go back to your drawing board.
Therefore, it is important to ensure the correctness of your product and the entire customer value chain with it from the beginning. If you want to build a sustainable online business, you need a reliable and solid foundation, and that all starts with a flawless product..
promotion :
Promotion is everything you do online and offline to put your product in front of potential customers, acquire new customers, and retain existing customers. We will discuss this issue further in the Gil Marketing educational articles.
