How to gain more customers and how to make them come back? Those are the key objectives when it comes to marketing. How can marketing contribute to achieve business objectives?
Traditionnally, you have the 4 P’s of the marketing-mix: Product, Price, Placement (distribution), Promotion.
With new technologies and new media, the 4 P’s remain, but they can be influenced and enhanced in new ways: internet has deeply modified the distribution channels, technology can augment information about the product and the experience with the product (or the brand), you can have more price segments and price calculation, such as dynamic pricing (think of EasyJet), and last but not least, the promotion opportunities have grown exponentially, bringing along huge progress (segmentation, tracking, social graphs, etc..).
But considering the contribution of new media & communication tools to the above mentioned objectives, coming back to the basic sometimes cannot hurt.
And for me, explaining the different aspects, in a very simple (yes, a bit simplistic, too!) way would be as in the image. From there on, you can dive into details, explain the points of convergence, how social media mechanisms impact almost all aspects and how to leverage them in an optimal way according to your company’s objectives. But at least you can get the big picture.
The mobile is in grey, but it could be illustrated in another way, as it permeates all aspects of communication, now.
Do you agree with the general idea? What would you add or change? And why? I would love to know!