Internet and the marketing mix (5)

Question 1

What are the 7 P’s of marketing mix

Answer 1

Marketing strategy:
Product, Price, Promotion, place
Service delivery:
People, process and physical evidence

Question 2

What are the 11 implications digital marketing has for product and price strategy

Answer 2

1. Vary the core product*
2. Offer digital products
3. Change the extended product
4. Conduct online research
5. Faster new product development
6. Faster new product diffusion
7. Online branding
8. Increased price transparency
9. Downward price pressure as transparent information
10. New pricing approaches
11. Alternate online price structures

Question 3

What are the 4 digital implications for place and promotion strategies

Answer 3

1) Place of purchase
2) New channel structures (direct/intermediaries)
3) Channel conflict (direct v’s resellers)
4) Promotional issues (CRM, Stages of buyer, engagement)

Question 4

What are the implications of digital for people, process and physical evidence strategies

Answer 4

People- Customer experience consistency - Linking direct sales people to technology
Process - Determine what process for what channel (cost efficiencies)/metrics - response times
Physical - Digital is vitual not physical (i.e. aroma)