Skip to main content

Marketing In A Digital World

According to AMA (American Marketing Association), Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing is also the enactment of a mutually beneficial exchange between two parties (seller and buyer). 

Two factors make marketing quite challenging for both firms as well as consumers. First, customers often don't know what they want and maybe uncertain about the degree to which a particular product will meet their needs. Second, there are typically many firms offering competing products that appeal to the same customers. 

To resolve those problems, the marketing developer made the 4 P's concept. The concept of the 4 P's was introduced way back in 1960 by professor Jerome Mc Carthy and Michigan State University. The 4P's are: 

1. Product

2. Promotion

3. Placement

4. Price


The 4P's known as the "marketing mix" are tools to help facilitate exchange. 

For Product: Marketers should offer innovative products that meet the customer needs & exceed their expectations. Also, the brand proposition should be unique and tell a compelling story. 

For Promotion: Marketers need to promote their offerings to potential customers. 

For Placement: Marketers must find a way to deliver their products physically. Most products have channeled through a set of distributions. 

For Price: Price is the main factor that influences which product a customer will purchase. Marketers can employ pricing strategies. 

Nowadays, digitization and democratization is altering the roles of both firms and customers. As a result, both firms and customers need to adopt new practices and change what they have done in the past. 


References: Marketing in Digital Worlds ( Illinois Gies College of Business through Coursera)

Picture: https://www.pexels.com/


Labels:

Comments

Post a Comment

Popular posts from this blog

Aku dan Si Bocah Pemalu

       Menjadi lulusan musik membuat aku punya standar tersendiri ketika menikmati musik, baik mendengar karya instrumental maupun orang bernyanyi. Meski aku tidak menguasai semua alat musik dan vokal tapi setidaknya aku tahu mana nada yang dibunyikan atau dinyanyikan dengan sesuai mana yang tidak. Hal ini membuatku relatif peka dengan nada yang sumbang, yang pitchy meski kurang dari semitone. Berbekal pengetahuan tentang musik, beberapa waktu lalu aku melamar pekerjaan sebagai guru ekstrakurikuler musik di salah satu homeschooling di Yogyakarta, setelah diterima aku bertemu dengan seorang anak perempuan kelas IX.  Namanya Arimbi, tapi sering dipanggil Bimbi. Homeschooling tempat aku bekerja didominasi siswa berkebutuhan khusus, misalnya autis, down syndrome, disleksia, dan lainnya. Pertama kali bertemu Bimbi, dia terlihat tidak memiliki kebutuhan khusus. Dia mampu berkomunikasi dengan baik, perilakunya tidak impulsif, hanya saja dia sangat pemalu. Masih aku...
Post a Comment
Read more

Selubung-selubung Film Aladdin

Buat para pencinta Disney, kalian pasti nggak akan asing dengan live action Aladdin yang rilis tahun 2019. Disney kayanya emang lagi gencar bikin live action dari film animasi lama. Live action Aladdin gampangnya adalah film fantasi musikal. Para penontonnya pasti tersihir sama musik dan tari-tarian di film itu. Nggak bisa dipungkiri sih, film garapan Disney rata-rata punya soundtrack yang bagus dan memorable banget. Salah satu lagu yang paling booming adalah A Whole New World. Jujur aja, kalau kalian denger film Aladdin pasti kalian kepikiran lagu satu ini kan? Tapi kali ini kita nggak bakal bahas lagu itu, guys. Ada hal lebih menarik yang mungkin nggak terlintas di benak kalian selama ini. 
Post a Comment
Read more