DMK201 Lecture 5 - The 4Ps

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Learning Objectives
Applications of the Marketing Mix
Strategies for Development &Measurement
SMART Product and Pricing Strategies

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  • About MeMy name is Ryan Busch, I have been a marketer for the last 10 years and a teacher for a little more than 2 years.Professionally, I work in marketing and product management and development--specifically in educational marketing and technologies since 2005. I currently serve as a consultant on social media and digital marketing programs in the higher education space, and I am also the Chief Marketing Officer for Piccolo International University.I am married to my best friend and we have a happy home with two wonderful dogs. I am a classically trained musician whose interests, in the last 10-15 years, have moved more towards European folk music with a little electric guitar playing to boot. Consequently, I have a collection of accordions, concertinas, saxophones, and penny whistles--plus a Gibson Les Paul knock-off--that I play whenever I get a chance.Last bit of info: I have eaten fire, gone skydiving, and milked cows--but never all at the same time :)Piccolo International University http://onlinepiu.com/about/vision-and-mission.aspxDigital Marketing Certificates: http://onlinepiu.com/digital-marketing-certificate-program/Bachelor’s Degree: http://onlinepiu.com/bachelor-degree-in-digital-marketing/These LecturesThis is a highly innovative concept—these lectures blend live lecture, with for-credit online college courses—congratulations on being a part of the future of higher education!
  • What is soldMessaging TacticsTargeting ValueWhere Sold
  • Core Product Example: Quickbooks (software)Varied into Quickbooks OnlineExtended ProductBilling Manager (free)New Product Release SpeedGoogle BetasCustomers use, break, recommend improvementsDiffusion (Malcolm Gladwell’s Tipping Point)Success depends on the initial adoptersStickinessFriendster versus YouTubeContextDiffusion depends upon the context it entersYouTube has wide appealQuickbooks has specific appealThe speed at which a product diffuses is related to the context which surrounds it.
  • Price Elasticity of DemandOnline pricing is inelasticPrice is one variableSatisficing Behavior
  • Lecture ScheduleClick Here to View and Join—please share it with your friends! http://edufire.com/classes/11167-digital-marketing-dmk201-at-www-onlinepiu-com/scheduleLecture 1:Thursday Dec 3 at 6:00 PM (all times Arizona)Lecture 2:Thursday Dec 10 at 6:00 PMLecture 3:Thursday Dec 17 at 6:00 PMLecture 4:Thursday Jan 7 at 6:00 PMLecture 5:Thursday Jan 14 at 6:00 PMLecture 6:Thursday Jan 21 at 6:00 PMLecture 7:Thursday Jan 28 at 6:00 PMLecture 8:Thursday Feb 4 at 6:00 PM
  • DMK201 Lecture 5 - The 4Ps

    1. 1. Digital Marketing (DMK 201)<br />Presented by <br />Ryan Busch<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />
    2. 2. Introductions<br />About Me<br />About PIU<br />About these Lectures<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />
    3. 3. Developing The 4Ps of Marketing in the Digital Realm<br />Lecture 5 of 8<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />
    4. 4. Recap from Lecture 4<br />Development Matrix<br />OVP<br />Key Decisions<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />
    5. 5. Lecture 5<br />Learning Objectives<br />Applications of the Marketing Mix<br />Strategies for Development &Measurement<br />SMART Product and Pricing Strategies<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />
    6. 6. The 4Ps<br />Primary Marketing Variables<br />Product<br />Price<br />Place<br />Promotion<br />Conceived originally for “push” paradigm<br />Digital moves from “push” to “pull”<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />
    7. 7. Digital Effect on the Product<br />Change Core Product<br />Modify Extended Product<br />Online Research<br />Increase Speed of Development<br />Increase Speed of Diffusion<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />
    8. 8. Price<br />Digital Control of Price is Infinite<br />Formerly, in-store repricing was time consuming<br />Pricing Strategy<br />Transparency of Price<br />Differential Pricing Issues<br />Price Elasticity of Demand<br />Price changes impact demand = Elastic<br />Price changes have little impact = Inelastic<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />
    9. 9. Place<br />Offline seeks distribution widest distribution<br />Get the product into WalMart<br />Online seeks most efficient points of sale<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />
    10. 10. Promotion<br />Base Website<br />Extended positions<br />Communications at large<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />
    11. 11. Wrap-Up<br />4Ps<br />Digital increases velocity and dialogue<br />Next Week…<br />Approaches for B2C Ecommerce Transactions<br />Leveraging B2B model presence<br />Performance Metrics<br />Available for Credit from Piccolo International University<br />480-398-7000 | info@OnlinePIU.com | Enroll Now!<br />

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