Digital Marketing means Promotion on Products, brands via one or more form of electronic media.
1. Buyers & Sellers used to be collocated.
2. Industrial revaluation and specialization made marketing necessary.
3. Marketing is more than advertising.
Digital marketing 4P’s model:
Products could be looked at with the naked eye, touched even smelled in-store to determine its true value and quality. Your product’s performance, price and quality will always rank among-st top criteria consumers will consider when deciding whether buy or not to buy, on your website or at retail , so be sure your product delivers right.
At any time, today or tomorrow, price is probably what most consumers would say is the most important ingredient in making purchase decision. While budget and price are certainly large contributors and there is no question that if you don’t consider it for reference to the product quality deals features and coupons. So make sure that your price value equation is right is the key to success.
Promotion encompasses the different manners in which you tell consumer about your product. And Promotion and place make up the biggest difference between the traditional marketing tactics of years past & digital marketing. Historically products have been promoted primarily using radio, TV, print, and outdoor advertising. Free Standing Inserts were also used heavily in consumer package goods to introduce new products and commonly provide coupons inside of their weekly newspaper.
Place is all about where your product is sold and where is often referred to as distribution. Whether your product is sold or not at your own retail store, someone else’s can be brick-and-mortar store, on your website, amazon, or maybe even at local farmer’s market, each of these locations brings up its own set of rewards and challenges to consider. Also today’s market is more global than it was even a few years ago. Regional or local brick & mortar retail was pretty much is the only place to consider if you wanted to sell a product & only question was whether you would sell it in your own store i.e Business to Customer (B2C) or in someone else’s i.e. Business to Business(B2B)
Market research and analysis:-
Digital marketing markets are also known as conversations.