The 7 P’s Digital marketing model expects all elements of a marketing mix to use of digital technologies for modern businesses. Understanding how different aspects of an online marketing mix connect to your organisation is vital for creating and executing a suitable digital marketing plan. Every business model has its own set of requirements; some can profit directly from fully online approaches, while others require a more hybrid approach to flourish.
You may be aware of the 7 P’s of the marketing mix that is common in marketing businesses. Although these strategies are most commonly utilised in marketing as a whole, they can also be adopted in the digital world.
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Understanding Marketing Mix
Marketing mix refers to the strategies used to meet consumer needs and effectively place our offering in their minds. It includes the 7P’s (Product, Price, Place, and Promotion) as well as three extra aspects that help us address the issues of marketing services. The 7 P’s version of this paradigm, which incorporates physical evidence, people, and process, is currently more commonly used. This is notably true for any business rather than a tangible commodity, and it is especially true for digital marketing.
Employing the marketing mix framework for business and marketing operations results in strategies that are:
• Effective
• Vital in developing a company’s strengths while reducing its shortcomings
• Helpful in increasing market competitiveness
• Supportive in boosting a company’s flexibility and innovation
Here’s what the 7 P’s mean in the Digital Marketing world –
Product
This refers to the company’s output (whether it’s a product, a service, or a combination of both) that is designed to answer the customer’s primary demand. The task is to come up with the correct ‘benefits package’ to suit the need. Think beyond the product itself when upgrading the product offerings – guarantees, certifications, after-sales or online assistance, a user-friendly app, or media products like a video that enables the client to get more out of the product, can all add value and difference.
Price
This is the only part of the marketing mix that generates income; everything else is a cost. The price of a product that your customers pay is referred to as price in an internet marketing mix. Before prices are set, you must gather information on what clients are prepared to pay and determine the market value of a product or service. In the digital era, price comparison is simple, and the low-cost market is fiercely competitive. Incorporating customers’ time spent to make the purchase, into your pricing strategy will help you design precise costing for your products.
Place
The location and method by which you provide your clients with access to your items are referred to as “place” in the internet marketing mix. This is the ‘location’ where people can buy something. The product’s distribution and where it can be found (logistics, distribution channels, market coverage etc). When it comes to online marketing, you have a lot of possibilities for selling on a variety of platforms and ways. The optimal location for your consumer is one that is easy to access and practical for your target demographic. A company store, a third-party store, a website, social media pages, or a blog are all examples.
Promotion
Adopting online marketing communication tools to engage your intended audience is referred to as promotion in the online marketing mix. To engage and influence an audience, promotion involves the use of digital ads, media relations, direct engagement, and sales promotions. It’s all about sending out messages that elicit notice, attention, desire, or action. Personal selling with a sales staff is great for creating customer relationships and closing transactions, whilst branding is good for generating awareness and bagging new audiences.
People
The measurement and evaluation of interactions between a firm and its consumers, as well as interactions between workers and customers, is part of the marketing mix’s people aspect. When dealing with clients, a company’s employees are at the forefront. They communicate with consumers along their journey and serve as the organization’s “face” to the public. Their understanding of the company’s products and services, as well as their capacity to access relevant details and their regular behaviour and attitude, must all be improved. Those who handle the calls, emails, chat lines, and contact centres are a crucial part of the process in today’s digital environment.
Process
This refers to the manner in which the service is delivered, such as the series of pages or emails that must be completed in order to make a purchase. The process, as a marketing move in the online marketing mix, specifies the procedures and optimizations required for supplying digital stores and core experiences. You must take into consideration the tasks required for a service to offer its users its primary experience. Identifying the stages of the user journey – from making an online inquiry to seeking knowledge and making a purchase – allows you to determine what processes are required to create a great experience for the customer.
Physical Evidence
Physical evidence gives you a sense of how good a company’s experience is. Facilities, interior designs, services, and post-purchase items are all examples of service experience. it talks about the physical feature of a customer’s environment that they encounter during the decision-making and purchasing process. A great example of digital evidence is online brand awareness across multiple media.
Incorporating the 7 P’s of Digital marketing into a firm’s marketing decision-making process will result in a more effective marketing strategy for your organisation. Through marketing, businesses that understand how to integrate all of the elements can boost their competitive advantage in the marketplace. Marketing decisions about product, price, location, promotion, people, process, and physical proof have numerous advantages.
Info Hub Digital, a leading digital marketing agency based out of Pune, India can assist you in planning and strategizing your marketing efforts based on factual data and calculations in order to meet your goals and make happy customers. Many organisations in many industries have benefited from our assistance in improving their marketing strategy. By adopting a multi-channel marketing approach, our marketing solution has assisted brands in connecting with their customers.
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