Did you know that there are not 4 but 5 Ps of Marketing in this Digital Age?
I am sure you have heard about the 4 Ps of Marketing.
Product, Price, Place, Promotion.
But the world has changed. Digital Marketing has become the norm.
And one thing that is different when it comes to Digital Marketing is that you cannot ignore the people who buy the product in the first place.
That’s why I have added People to the formula which makes the 5 Ps of Digital Marketing.
Even before the product is conceptualized, you need a community and the people will help you understand what the market needs and how you should position it.
So here are the 5 Ps of Digital Marketing:
- People (added new)
2. Product
3. Price
4. Platform (Place is replaced by Platform)
5. Promotion
You can see that there is one more thing that is different from the original 4 Ps of Marketing.
Here, the Place is replaced with Platform.
There is no physical space and “Place” when it comes to the digital ecosystem.
Instead of places, you have different platforms which becomes the digital place.
And then you need to promote the products through the platform — and promotion cannot be ignored.
Let me know what you think about the 5 Ps of digital marketing.
