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by Seina Arakawa0 views·Updated Sep 27, 2021
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  1. Hey everyone today.
  2. I'll be discussing the implications of the internet and digital
  3. technology on each element of the marketing mix.
  4. Digital technology and the Internet have overall changed the business
  5. world and the way businesses implement strategies empowering both businesses
  6. as well as consumers.
  7. The elements of the extended marketing mix I'll be going
  8. through today are the seven pieces including product price, place
  9. promotion, people process and physical evidence.
  10. Digital technology has essentially changed the way that products and
  11. services are being offered.
  12. The outside in approach empowers consumers by understanding their needs
  13. and wants than developing the right product to cater to
  14. those needs.
  15. The Internet helps businesses get a deeper understanding of what
  16. consumers want and what they don't want to develop their
  17. product or service.
  18. A shift in digital technology has allowed the organizations like
  19. Netflix to exist.
  20. The Internet also allows the core products to be changed
  21. into digital products or services, for example, Itunes and Spotify.
  22. Eyes allow music downloads and streaming.
  23. Netflix allows movie streaming without physically going to the store
  24. and newspaper provides online content access.
  25. An effective pricing strategy is vital for businesses.
  26. Continued success in sales.
  27. There are several approaches when it comes to market.
  28. Is developing a pricing strategy are more recently.
  29. Common price adjustment strategy is dynamic pricing.
  30. Instead of using fixed prices, prices are adjusted to the
  31. specific customer needs once or situation.
  32. For example, consumers are able to negotiate prices through online
  33. auction sites such as Ebay.
  34. The Internet makes it more and more accessible for individuals
  35. and businesses to market their products at prices that cater
  36. to the consumer needs.
  37. Promotional pricing can also be implemented by marketers through the
  38. use of Internet and digital communication channels, businesses temporarily reduce
  39. the pricing of their products to increase short run sales.
  40. The Internet helps communicate the promotional message to a large
  41. reach of audience effectively.
  42. Promotional pricing strategy would otherwise not be as useful and
  43. efficient without the Internet, the place element of the marketing
  44. mix refers to how the product or service is distributed
  45. to its consumers whether that be online and physical retailer.
  46. The Internet removes geographical barriers are providing customers with more
  47. options and businesses with more competitors.
  48. Considering the three aspects described in the slide by removing
  49. intermediaries, technology drives organizations to sell direct to its consumers,
  50. which overall cut saves costs and cut down on time
  51. to sell a product or service, Apple and dollar.
  52. Great examples of successful organizations who have implemented this strategy
  53. online to sell many of the systems direct towards consumers
  54. without intermediaries, although it is difficult for organizations with less
  55. capital to implement that disintermediation strategy as it involves investment
  56. in resources for distributing the products utilizing the Internet to
  57. create new intermediaries such as using affiliates online to direct
  58. a larger reach of customers to a commerce site like
  59. Expedia or what if to assist with their purchase decision.
  60. Expedia directs its customers to a range of sites for
  61. accommodations, flights, travel insurance with organizations they have affiliated with
  62. promotion is a communication element of the marketing mix.
  63. That Internet allows promotional activities to be targeted and personalized
  64. through selection of positioning, target markets and integration of different
  65. communication tools.
  66. Organizations can look at utilizing the tools of the communication
  67. mix to promote their product or service.
  68. Direct marketing form of promotion involves highly targeting your audience
  69. with tailored messaging that is geared specifically for their needs.
  70. It can be done through email, postal mail or social
  71. media messages, increased revenues with sale promotions can also improve
  72. your bottom line in the short term is with our
  73. sales promotion.
  74. This kind of marketing promotion involves discounts coupons to contest
  75. prizes, loyalty programs and other incentives designed to entice customers
  76. to purchase products immediately.
  77. Now onto the element of people in the marketing mix,
  78. successful organizations have a high level of people involved in
  79. the online distribution and personnel who are in the direct
  80. contact with customers.
  81. They're essentially the face of the organization with access to
  82. digital technology organizations can easily integrate social media and as
  83. a channel for customer support or utilize online reviews like
  84. google my business and yup organizations can implement live chart
  85. Softwares to their online websites to connect support personnel, including
  86. avatars and customers directly.
  87. Many online retailers implement this seamlessly.
  88. But the most effective approach for extensive support advice will
  89. be through communication over the phone, so how to implement
  90. these communications strategies to a business's website or channel can
  91. be planned through the process of the process of the
  92. process element of the marketing mix.
  93. The most effective and preferred customer contact strategy will be
  94. the customer preferred channel where customers choose a preferred channel
  95. for enquiries such as phone call, email, social media or
  96. lifestyle, This customer contact strategy is vital for organizations to
  97. implement as we live in a time where there are
  98. major generation or differences and preferences.
  99. As starts show, there is a major difference in confidence
  100. level of using digital technology.
  101. Overall, using this approach will improve user experience.
  102. Physical evidence is a customer's experience of the organization's website,
  103. including the navigation, availability and the performance of the website.
  104. Digital tools, techniques and experts can be utilized to find
  105. you in the Web sites in areas such as the
  106. landing pages, newsletters, customer support and augmented services, hubspot demonstrate
  107. businesses with leading site design and performance with evolving power
  108. of technology and the Internet.
  109. Marketers must focus on all elements of the marketing mix
  110. to succeed within the competitive market.
  111. Thank you for listening to my presentation.