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P1 Marrketing Mix

In: Business and Management

Submitted By cerijade
Words 427
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P1:
Marketing is the action or business of promoting and selling products or services, including market research and advertising. Marketing can be strategised by using the marketing mix which consists of seven p's; price, place, product, promotion, physical evidence, people and process. All seven p's have been affected by internet marketing in relation to target market. Price and place are both changeable and adaptable within the market. For the product to work in an online environment the product needs to be in demand, promotion is much more expandable and flexible. Physical is evident and available online for the customer/consumer , finally for people it's more convenient and accessible and is also much quicker and efficient.

IM: Internet marketing has affected relationship marketing in many ways. There has been an increase of social media platforms and communication platforms. Being able to connect internationally and easily via social media networks such as Twitter, Facebook, Instagram, allows that specific brand or company to communicate with their consumer much more personally on a one-to-one basis. Being able to interact with the customers on a one-to-one basis allows the company to get an inside look on the customers needs and preferences and are able to get data and information that they may not have access to without the social media links. This therefore makes the process of data protection much more cost effective and efficient. 

Internet marketing has made it much easier and time efficient for businesses to devise strategies to achieve their business objectives to their full potential. An increase of population online has resulted in an increase of online business monitoring and online presence of their customers. This further then resulted in an increase of monitoring of feedback which allows the companies to react to their target markets online…...

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