the 4 p's of digital marketing- class 5
DESCRIPTION
TRANSCRIPT
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
The 4 P’s of Digital Marketing
Product
Place
Price
Promotion
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
The 4 P’s Extended
Product
Place
Price
Promotion
People
Process
Physical Environment(Productivity)
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
The Product
= Your core offering
•Fulfills a need
•Must be superior and benefit the
consumer
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
The Place
= location
•Offers another level of value
•Services often chosen for their place
and utility
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
The Price
= cost to the customer
•Impacts buyer satisfaction
•Price is proxy for quality
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
The Promotion
= positioning
•Balance between customer
perception and brand attributes
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
People, Process and Physical Environment
People are crucial in the service
industry.
Having a process ensures standards are
always met.
Physical environment affects a
customers level of satisfaction.
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Updated 4 P’s
1. Personalization
2. Peer-to-peer
3. Participation
4. Predictive model
Slideshare Presentation
The 4 E’s from Oligvy
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Digital Products
1 & 0’s - intangible - stored - level
of entertainment - “inseparability”
feature - hardware/software - less
and less human interaction
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Variability & Perishability
• The extent that
a digital
product/service
is delivered
with little or no
human
interaction
• Beta testing is
essential
• Storage of
digital vs. non
digital
• Digital may be
delivered at
any time
(depends on
the amount of
human
interaction
required)
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Customization
• A growing expectation
• Less generic and more personalized
forms sought
• Ex. Smart phone: comes with some
preloaded applications, but
becomes “mine” after loading it up
with a personalized mix of apps to
reflect “my” interests and
personality – such that it can
become exactly what “I” want it to
be
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Ownership
Personal Jukebox Subscription Stream
Music as PRODUCT Music as SERVICE
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Digital Marketing
Producer
Publisher
Distributor
E-tailer
Consumer
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Consumer Reviews
WOM is now online.
Rise of public consumer backlash.
Yelp, Amazon, Twitter, FB, reviews,
Rate my prof, etc.
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Personalized Service
•Interaction
•Engagement
•Relationships matter
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Measurability
Easier with digital products/services
CPM giving way to CPC or click-through
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Viral Marketing
Batonable
NOT viral
BDMM 4336
The 4 P’s
Class 5Fall 2011
@AndreaGenevieve
Pricing
The power of FREE!
Pricing information is now transparent.
There is a psychology to free.
Anderson’s FREE e-book on FREE!