The internet and the marketing mix

The internet and the marketing mix

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The internet and the marketing mix ​

McCarthy’s four Ps of marketing are Product, Price, Placement and Promotion.
Developing technology, naturally, has an effect on all of these, and the Internet in particular has seen fundamental shifts not only in the means available to promote products, but also in the placement, or distribution of products. Although tools for research, retention, distribution and product creation have changed dramatically, the fundamental principles of marketing still guide strategy.
products and services
Products and services are what a company sells. From fast moving consumer goods to digital products such as software to services such as consultancy, the Internet has allowed for a plethora of new products.
Technology allows for mass customisation of products, seen in a growing trend of letting customers customise goods online before they are created. For example, NIKEiD (www. nikeid.nike.com) and Converse (www.converse.com) both allow customers to create their own trainers based on a number of preset options, that will then be manufactured to the customer requirements. In a similar fashion, computer products can be built to specifications, as the costs of offering this type of service to customers is reduced by the Internet.
Digital products can exist because of the Internet. The very framework of the Internet allows for products such as software and digital music to be distributed. The Internet as a distribution medium is what makes these products possible.
price
With customers able to easily access pricing information from a number of suppliers with relative ease, the Internet is growing a market of near perfect competition (Porter, 2001). The prevalence of search engines and of shopping comparison websites, such as www.pricerunner.com and www.nextag.com, make it easy for customers to compare product prices across a number of retailers. The temptation for companies to differentiate themselves on price has lead to decreased prices for many commodities, from the regularly reduced pricing of books on Amazon.com to ticket prices on low cost airlines such as EasyJet (www.easyjet.com) in Europe.
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