Marketers should revise approach to the "4Ps"-- Product, Place, Price, Promotion

[mandy]

Marketing textbooks often describe the fundamental task of marketing as making decisions about the "4 Ps:" Product, Place, Price and Promotion. What product (or service) will I sell? Where will I sell it? What price will I charge for it? And how will I promote it to the consumer?

Neat, straightforward, linear in its logic, but the new digital world is neither neat nor linear. Consider how the 4Ps can begin to reflect this new complexity....

The old question: What product will I sell?
The new question: How do I develop products that meet the diverse needs of demanding consumers?...

The old question: Where should I sell my product?
The new question: How do I expose my product to the right consumers?...

The old question: At what price do I optimize profitability?
The new question: How do I assure profitability in a more price-transparent world?...

full article: http://www.imediaconnection.com/content/9170.asp