Evolution of New Marketing Mix in the Age of Digital Marketing
Priyamvada Parmar
Research Scholar
Pt. Jawaharlal Nehru Institute of Business Management, Vikram university, Ujjain, India
Abstract:
In the light of evolution of digital platforms and advancements in the technology, the marketing mix; to has undergone rapid changes. This has compelled the marketer irrespective of the product or service to re-design their marketing mix to have a proper reach to the target audience.
Since the inception of marketing as a normative management Baker in 1974, 1991 brought forward the thought of marketing as a combination of microeconomics, statistical mathematics and psychology. Though marketing has grown leaps and bounds from that time and ‘modern marketing’; a term that has been coined in the recent time has gained importance and in today’s marketing scenario has become one of the most important factors determining the sales of the product.
To better understand this increasing trend in the digital marketing platform, we must first acquaint ourselves with the changes in the marketing function; i.e., Marketing function is that which helps a company to identify and source potentially successful products for the marketplace they operate on and then promote them by differentiating them from similar products. It is a vital part of any company.
Typical marketing function types within a larger business includes performing market research, making marketing plan, and product development, market development, market penetration as well as strategically taking care of advertising, distribution for sale, pricing, after sales customer service and public relations.
Therefore, we must understand the changes that this marketing function has gone through over the years out of which the most important factor is that of ‘Customer Interaction’.
As the term suggests customer interaction is defined as the manner in which a potential customer or lead acquires information about the product or service, additionally, customer interaction can also be the response to the advertiser’s efforts to reach the customer.
We will discuss the customer interaction in detail further in this paper.
