The marketing mix refers to the factors that a marketer can manipulate to influence the demand for their product. Some people may think that influencing demand means only increasing demand. This is a mistake because there may be times when a marketer has to act to reduce the demand for their product. When the product is scarce, for example.

Early marketing professors presented the marketing mix as four elements: Product, Price, Place, and Promotion. 4P in shorts. Later thinking held that these 4Ps are good enough only for physical goods and that there was a need to expand the marketing mix to take care of services. Thus, 3 new Ps were added to the marketing mix, making 7 Ps for services. The additional 3 are Physical Evidence, Process, and People. An attempt will be made to relate the 7Ps of marketing to your e-business.

Product

Without a doubt, the product is the most important element of the marketing mix because people buy the benefits or solutions built into the product. In your retail store, you can see, touch, smell and even taste a product or hear the sound of a product. But on the World Wide Web, you can’t do this. As the creator of an e-business, you are limited to visual and verbal techniques to present your offer. You may only display an image, drawing (static or animated), and describe the features and benefits of your product. And this must be done well.

It’s easy for online shoppers to compare prices with just a few clicks before they buy. Today there are shopping geniuses who facilitate this. This increases competitive pressure and means that e-business builders must not only clearly state their prices, but also relate them to the value their prospect will get.

Square

This has to do with the location and availability of products. On the Internet, your store is as far away from you as your computer screen. And you are heavily influenced by what you see. Therefore, the e-business builder must have a website that is compelling and professional so that buyers feel secure when ordering.

Promotion

This seems to be the most talked about element of the marketing mix in internet marketing. It is the element that drives traffic (visitors) to the website. And sadly, when some people discuss marketing strategy, they mean only promotion. There are many promotional tools that you can use. They include various types of advertising, press releases, advertisements, buying leads, traffic exchanges, SEO techniques, article marketing, and blogging. You should be guided by your skill set and budget when choosing your tools.

Physical evidence

This is closely associated with the element of place. Does your website give the impression of reliability and trust? If you score high here, try to include a physical address and other means of contact, certification from agencies like the BBB, and proof that customer payment details are secure.

process

How easy is it to buy from you? How fast does your order page load? Do prospects have to answer a bunch of questions before or after ordering? How fast is the delivery? Electronic products must be instant. You need to think about some of these issues.

People

You may think that this is not relevant to selling on the Internet. Big mistake. What about the attitude and behavior of the customer service staff? Experience with them can be crucial in determining whether to buy or buy again.

Take all of this as you set up your e-business to sharpen your competitive edge and win the business game: a strong top line and a healthy bottom line.