Do you think new technologies are influencing the Marketing Mix? How has it changed how companies...

Do you think new technologies are influencing the Marketing Mix? How has it changed how companies deal with the classic 4 Ps of marketing? Support your answer with an example.

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Expert Solution

New technologies are definitely influencing the marketing mix of the companies.The marketing mix consists of 4 Ps, i.e. Poduce, Price, Place, Promotion.

Product: With the coming up of technologies, the product itself has transformed. This can be observed from the fact that data is a product now. The evolution of products from traditional products, say telephones, has now converted to web services, such as whatsapp calls or skype calls.

Price: The newer technologies aim to bring down the price. This can be seen from the fact that marketing costs (selling costs) as well as production costs are declining because of the newer technologies. This can be observed from ever declining prices of mobile phones.

Promotion: Digital marketing has changed the marketing scenario in a big way. The overnight sensations created over youtube are also examples of how technology has triggered change in promotion ways.

Place: With coming up of e-market places like Amazon and e-Bay, the landscape of distribution channels has changed in a significant way.

Rahul Sunny answered 1 year ago

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