DMK201 Lecture 5 - The 4Ps

Digital Marketing (DMK 201)Presented by

Ryan Busch

Available for Credit from Piccolo International University 480-398-7000 | [email protected] | Enroll Now!

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Introductions

• About Me• About PIU• About these Lectures




Developing The 4Ps of Marketing in the Digital Realm

Lecture 5 of 8




Recap from Lecture 4

• Development Matrix• OVP• Key Decisions




Lecture 5

Learning Objectives1. Applications of the Marketing Mix2. Strategies for Development &Measurement3. SMART Product and Pricing Strategies




The 4Ps

• Primary Marketing Variables1. Product2. Price3. Place4. Promotion

• Conceived originally for “push” paradigm• Digital moves from “push” to “pull”




Digital Effect on the Product

1. Change Core Product2. Modify Extended Product3. Online Research4. Increase Speed of Development5. Increase Speed of Diffusion




Price

• Digital Control of Price is Infinite– Formerly, in-store repricing was time consuming

• Pricing Strategy– Transparency of Price• Differential Pricing Issues

– Price Elasticity of Demand• Price changes impact demand = Elastic• Price changes have little impact = Inelastic




Place

• Offline seeks distribution widest distribution– Get the product into WalMart

• Online seeks most efficient points of sale




Promotion

• Base Website• Extended positions• Communications at large




Wrap-Up

• 4Ps• Digital increases velocity and dialogue• Next Week…– Approaches for B2C Ecommerce Transactions– Leveraging B2B model presence– Performance Metrics




Education

DMK201 Lecture 5 - The 4Ps