Marketing Mix Essay

Submitted By CHRISSIE24065
Words: 894
Pages: 4

Discuss the extent to which the availability of the internet has affected the marketing mix companies are likely to adopt.

NAME: Chrissie GROUP: Business4

With the whole world moving online, internet marketing is becoming an increasingly significant part of every firm and the internet brings a variety of effects to marketplace. In the meanwhile, there are numerous attempts to devise and renovate the 4Ps, which is divided into place, product, price and promotion. This assignment will focus on four basic ways, gives some examples for business online and explains for 4Ps. Connor (2004:293) point out that the concept of place that is one of marketing mix tool copes with how products get to consumers and a variety of choices about whether enterprises should market to the customer. In particular, e-Retail is goods sale and services online, the process of e-Retail have some important successful factors that are making it easy to buy for consumers, providing good service, making an enjoyable e-shopping experience. For example, Tesco is the biggest grocery retailer in the British and used telesales in the past. This low technological operation waste too much time for communication between retailers and buyers. Now this system was developed into website for e-Retailing, including the ‘proven delivery system’ and ‘hand-picking’ from mall. As an alterative online shopping, Tesco usually sent a monthly E-mail to shopper that is a mass of information of special goods. Using this way can speed highly and simplify the ordering process; this is a big convenience benefit for buyer. The ability of create and update new products and services rapidly is a crucial marketing mix in the competitive marketplace. In the electronic environment, internet and modern technology are incorporated into many existing products or services, which bring a larger new market. Siegel, C. (2006) stated ‘Turning products into services, many companies enhance value, make the products more difficult to replicate, and allow premium prices to be charged’. An excellent example is car manufacturers in order to higher sales and more profits; they have updated internet services into their products, which is though the use of advances technologies. When BMW 7-series cars entered into Singapore’s marketplace, company introduced that had a global-positioning system (GPS) via internet, not only planed the drive’s route but also alerted the driver to traffic jams. According to company officials, this was the first system to supply voice guidance to drivers in Singapore. The automated voice responded system attracts many purchasers and retains existing consumers. Price is a vital component in the marketing mix; especially the price of goods will affect the total revenue of a firm and have a direct impact on company’s profitability. The internet provides customers with a relative perfect market because buyer can compare the price easily online. As Connor(2004:284) stated: ‘The internet is having a dramatic effect on the way organizations set prices, since customers now have much greater visibility on price’. This is can illustrated that eBay and PLC (product life cycle online). At the beginning, popular and lacking new products always are purchased and then auctioned on eBay at a higher price because customers eager to own them. The iPad mini at the beginning of life