For example: a company could use the process element (included in the 7 Ps) to optimize its ordering system and become more efficient, since the 4 Ps alone do not allow it to compete adequately in its field.
With the digital revolution, it is no mistake to think that traditional concepts also need to vietnam telegram change. The means to reach your audiences are multiplying: social networks, email, actions on mobile devices or search engines, etc.
In this media context enriched by digital media, the 4 P model of the marketing mix leaves aside the prominence that had always been given to the product to focus more on people and relationships.
Now, we can define the new 4 P's like this:
Personalization
Stake
Peer to peer
Modeled predictions
5. Personalization
It refers to the creation of products adapted and designed based on the particular needs of the consumer.
Personalization relates to the segmentation of our online experiences, making them as specific as possible for each segment or niche defined in marketing mix strategies.
6. Participation
This P is based on creating and nurturing a community. The core of this element is value creation, and there's nothing like a close relationship with your customer to let them tell you, themselves, what they want.
Some brands have been able to take advantage of participation and have obtained the collaboration of consumers to create their products. An example of this is what Starbucks has done with its coffees created by the consumer.
Participation, on the other hand, involves integrating the consumer into your promotional strategies. For example, when you provide content that is so relevant that people feel the desire to share it, thus expanding the reach of your promotional messages.
Boosting engagement on social media creates fans and potential promoters of your brand, increasing loyalty and audience impact.
7. Peer to Peer
This is one of the most valuable Ps in the marketing mix for connecting with consumers. It is present when a customer recommends your product to their social circle (friends, colleagues or family).
This type of strategy is a form of word-of-mouth marketing, and it is one of the most important when you want to know what image your brand conveys.
Consumers also trust the opinions of their friends and other users about a service or product. When someone recommends your product without receiving any financial incentive, it conveys true trust to others.