The concept of Marketing Mix was introduced by Neil Borden in his article (Science in marketing, 1964). The concern in his article was, “how can advertising, personal selling, pricing, packaging, channels, warehousing, and the other elements of a marketing program be manipulated and fitted together in a way that will give profitable operation?”
While the Father of Modern Marketing Dr Philip Kotler described in the book “Principles of marketing (Kotler and Armstrong (2012)”, "The Marketing Mix is the set of tactical marketing tools - Product, Price, Promotion, and Place - that the firm blends to produce the response it wants in the target market."
It is the era of services, Above 4 p’s of marketing cannot enough. Hence there are some extended P’s for service purpose. Therefore In the modern marketing there are 7 P’s.
Digital marketing mix or online marketing mix is the set of tactical marketing tools that the company blends to produce the response it wants to achieve their goals such as page views, conversions, etc. in the targeted online market. Digital marketing is the service. Hence 7 P’s of marketing mix has to be taken care of.
World a small place, thanks to Internet! Internet has brought the world such closer that the parameter for distance has changed from scale to clock. We connect the other end of the world within a few seconds. Scope for target market has broadened. Means Internet has provided a market place for your products.
Internet is market place. People from around the world come to Internet a single and common, Huge and effective market place for all type of the product. In this market place you have to buy a shop. That is your website. A unique domain that will serve your clients a showcase of all your products and services.
You have market place where you can sell anything, but what is product in the digital or internet marketing mix? There are two types of products. One is your intended product that you want to sell, and one is the content which will serve your clients as a communication medium. Content can be anything like written content, audio or video contents, pictures etc.
Your product your price! But price will be much lesser. Because cost of intermediaries can be avoided, sophistication in the search engine results and analytics help your marketing cost also. Overall there is benefit to the selling price and the product becomes cheaper.
Promotion means, to spread across. To shout a loud benefits of your products and services. Promotions in digital marketing or online promotions are the promotions done by using different digital or online medium such as mobile phones, internet, etc. Particularly on the internet there are many ways to promote such as social media sharing and paid promotions, search engine promotions, PPC etc.
People trust people. Though the internet is virtual medium, Live communication to the users is part of gaining trust into your users. For example, live chat, Help line numbers to communicate, etc.
Process is nothing but the name for User experience. So easy access, the content quality and its experience, Navigations, payment experience etc. are the part of Process while digitally marketing.
Equally important factor of marketing and very important factor in especially digital marketing. When we are doing business on the virtual platform like internet, we must have physical evidence of your business not only products and services you have. Website is the very very important Physical evidence while doing online business. Apart from that reviews, user experience sharing forums are useful to discuss about product and services and create real existence on the virtual platform.