The Five Ps Applied To Internet Marketing


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The Five “P”s Applied To Internet Marketing:

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A customer oriented value chair that places the customer as the center of attention, with information follows passing from a business to its customer for all facts of its operations except for own procurement where the firm inter faces with its suppliers.

The five “P” s of marketing are:

 

1)      Product

2)     Pricing

3)     Place & Distribution

4)     Promotion

5)      Personalization

 

 

Product:

 

Product is a good or service that a business offers to its customers without a perfect product to offer, a business cannot survive. The produce component in the marketing is related to the production section of the consumers –oriented value chain.

 

Pricing:

 

The pricing of a “good” refers to the processes involved in determining the amount to change for a specific physical good or service pricing models are typically used to determine a firms price.

 

Because of the development of search engines customers are easily able to compare prices of many goods offered for sale on the internet. On-line quotation are a popular method for selling items on the internet an interesting method of pricing goods on the internet is through offers made by consumers.

 

Place (Distribution):

 

Place is frequently referred to as out bound logistics or Distribution.

The Distribution task entails moving the product from the producer to the customer.

 

The product may travel directly from the products to the customer or it may be channeled intermediaries such as whole sales or retailers.

 

E-commerce involving the sale of physical goods can be very useful in exchanging information between business and delivery companies.

 

The physical internet itself us also a delivery channel for digital products like software data or multimedia fill.

 

Promotion:

 

The sales and marketing function under the traditional marketing category called promotion.

The successful promotion of a product requires that at a minimum a positive message be received by potential customers. This message can be communicated many ways.

 

1) Paid advertising channels.

2) New stories and press releases.

3) Word of mouth.

4) Consumers personal experiences.

5) Packaging.

 

Another aspect of promotion is the sharing of information with customers.

 

 

Personalization:

 

The internet is leading marketers to a fundamental paradigm shift from mass marketing to personalized marketing. Data bases and telecommunications technology make it very easy and cost – efficient to mass marketing personalized services.

 

Personalization on the internet refers to the ability of customers to receive personalized information

(ex: sales advertisements or coupons) or visit a website.

 

 

 

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