Online Marketing Strategy 4Ps Cont : Price & Promotion
February 17, 2010 | Posted by LUV | 3 CommentsLast time, I wrote the article about how to apply 4P strategy to online marketing but there are 2 more Ps, Price and Promotion, that I did not mention in the last article. Therefore, today I will continue 4Ps stratety with Price and Promotion.
Price : When you sell your products online and if your products are physical ones, your customers cannot downloaded your products via the Internet so we can see that shipment will be involved in your online business process and so does the shipping expense. This is related to your product prices in that first you may add the shipping cost to your product prices and say that you will ship the products to your customers without any charge.
On the other hand, you keep your product prices the same and inform your customers how much they have to pay for delivery cost. Alternatively, you may set the minimum number of products customers have to purchase to get free delivery.
Promotion : Most promotions used in traditional marketing like bundling products as a package, giving a discount, offering free stuffs, buy 1 get 1 or free trail can be also used in online marketing. However, these promotions should be used to support your online marketing goals. For example,
- In case that you want to increase the number of website visitors or online sales, you may offer more discount if people buy your products via your website than when they buy from your stores.
- In case that, you want to increase the number of sign ups, you may offer free stuffs or services if people sign up to be your members.
- Or in case that you want to collect people’ emails that you may use to do email marketing in the future, you may ask people to answer the sepcial question by email to get the permium awards.
Therefore, we can see that 4Ps strategy can be applied to online marketing but you have to adapt any of them or all of them according to changes of technologies, customer behavior, etc. When you want to turn to online business, you may have to do something with your product, price, place / channel and promotion.
Category : Online Marketing
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