To overcome the deficiencies of the 4P model, some authors have suggested extensions or modifications to the original model. Extensions of the four P's are often included in cases such as services marketing where unique characteristics (i.e. intangibility, perishability, heterogeneity and the inseparability of production and consumption) warrant additional consideration factors. Other extensions have been found necessary for retail marketing, industrial marketing, and internet marketing
Being a Market Pioneer can, more often than not, attract entrepreneurs and/or investors depending on the benefits of the market. If there is an upside potential and the ability to have a stable market share, many businesses would start to follow in the footsteps of these pioneers. These are more commonly known as Close Followers. These entrants into the market can also be seen as challengers to the Market Pioneers and the Late Followers. This is because early followers are more than likely to invest a significant amount in Product Research and Development than later entrants.[95] By doing this, it allows businesses to find weaknesses in the products produced before, thus leading to improvements and expansion on the aforementioned product. Therefore, it could also lead to customer preference, which is essential in market success.[97] Due to the nature of early followers and the research time being later than Market Pioneers, different development strategies are used as opposed to those who entered the market in the beginning,[95] and the same is applied to those who are Late Followers in the market. By having a different strategy, it allows the followers to create their own unique selling point and perhaps target a different audience in comparison to that of the Market Pioneers. Early following into a market can often be encouraged by an established business’ product that is “threatened or has industry-specific supporting assets”.[98]
To overcome the deficiencies of the 4P model, some authors have suggested extensions or modifications to the original model. Extensions of the four P's are often included in cases such as services marketing where unique characteristics (i.e. intangibility, perishability, heterogeneity and the inseparability of production and consumption) warrant additional consideration factors. Other extensions have been found necessary for retail marketing, industrial marketing, and internet marketing
Display advertising - As the term implies, online display advertising deals with showcasing promotional messages or ideas to the consumer on the internet. This includes a wide range of advertisements like advertising blogs, networks, interstitial ads, contextual data, ads on the search engines, classified or dynamic advertisement etc. The method can target specific audience tuning in from different types of locals to view a particular advertisement, the variations can be found as the most productive element of this method.
A common method of assessing a firm's macro-environment is via a PESTLE (Political, Economic, Social, Technological, Legal, Ecological) analysis. Within a PESTLE analysis, a firm would analyze national political issues, culture and climate, key macroeconomic conditions, health and indicators (such as economic growth, inflation, unemployment, etc.), social trends/attitudes, and the nature of technology's impact on its society and the business processes within the society. [8]
Search engine marketing - Search engine marketing (SEM) is a form of Internet marketing that involves the promotion of websites by increasing their visibility in search engine results pages (SERPs) primarily through paid advertising. SEM may incorporate Search engine optimization, which adjusts or rewrites website content and site architecture to achieve a higher ranking in search engine results pages to enhance pay per click (PPC) listings.
This type of marketing strategy makes the use of your existing customers to get new customers on board. You pay some incentive or benefits to your customers if they ask their friends to buy your product or service. People usually do word-of-mouth marketing to get the benefit. The amount you pay to them is quite small in front of the returns you are getting. Find the way to keep the track of referrals done by your customers before giving them benefits.
Market pioneers are known to often open a new market to consumers based off a major innovation.[93] They emphasise these product developments, and in a significant number of cases, studies have shown that early entrants – or pioneers – into a market have serious market-share advantages above all those who enter later.[94] Pioneers have the first-mover advantage, and in order to have this advantage, business’ must ensure they have at least one or more of three primary sources: Technological Leadership, Preemption of Assets or Buyer Switching Costs.[92] Technological Leadership means gaining an advantage through either Research and Development or the “learning curve”.[92] This lets a business use the research and development stage as a key point of selling due to primary research of a new or developed product. Preemption of Assets can help gain an advantage through acquiring scarce assets within a certain market, allowing the first-mover to be able to have control of existing assets rather than those that are created through new technology.[92] Thus allowing pre-existing information to be used and a lower risk when first entering a new market. By being a first entrant, it is easy to avoid higher switching costs compared to later entrants. For example, those who enter later would have to invest more expenditure in order to encourage customers away from early entrants.[92] However, while Market Pioneers may have the “highest probability of engaging in product development”[95] and lower switching costs, to have the first-mover advantage, it can be more expensive due to product innovation being more costly than product imitation. It has been found that while Pioneers in both consumer goods and industrial markets have gained “significant sales advantages”,[96] they incur larger disadvantages cost-wise.

A fourth question may be added to the list, namely 'How do we know when we got there?' Due to increasing need for accountability, many marketing organisations use a variety of marketing metrics to track strategic performance, allowing for corrective action to be taken as required. On the surface, strategic planning seeks to address three simple questions, however, the research and analysis involved in strategic planning is very sophisticated and requires a great deal of skill and judgement.


Off page SEO: This type of SEO focuses on all of the activity that takes place "off the page" when looking to optimize your website. "What activity not on my own website could affect my ranking?" You might ask. The answer is inbound links, also known as backlinks. The number of publishers that link to you, and the relative "authority" of those publishers, affect how highly you rank for the keywords you care about. By networking with other publishers, writing guest posts on these websites (and linking back to your website), and generating external attention, you can earn the backlinks you need to move your website up on all the right SERPs.
Positioning concerns how to position a product in the minds of consumers and inform what attributes differentiate it from the competitor's products. A firm often performs this by producing a perceptual map, which denotes similar products produced in the same industry according to how consumers perceive their price and quality. From a product's placing on the map, a firm would tailor its marketing communications to meld with the product's perception among consumers and its position among competitors' offering. [54]
Social media is used to facilitate two-way communication between companies and their customers. Social media outlets such as Facebook, Twitter, Tumblr, Pinterest, Snapchat and YouTube allow brands to start a conversation with regular and prospective customers. Viral marketing can be greatly facilitated by social media and if successful, allows key marketing messages and content in reaching a large number of target audiences within a short time frame. Additionally, social media platforms can also house advertising and public relations content..[4]
The vision and mission address the second central question, 'Where are we going?' At the conclusion of the research and analysis stage, the firm will typically review its vision statement, mission statement and, if necessary, devise a new vision and mission for the outlook period. At this stage, the firm will also devise a generic competitive strategy as the basis for maintaining a sustainable competitive advantage for the forthcoming planning period.
Strategic planning typically begins with a scan of the business environment, both internal and external, this includes understanding strategic constraints.[54] An understanding of the external operating environment, including political, economic, social and technological which includes demographic and cultural aspects, is necessary for the identification of business opportunities and threats.[55] This analysis is called PEST; an acronym for Political, Economic, Social and Technological. A number of variants of the PEST analysis can be identified in literature, including: PESTLE analysis (Political, Economic, Social, Technological, Legal and Environmental); STEEPLE (adds ethics); STEEPLED (adds demographics) and STEER (adds regulatory).[56]

The "sharing economy" refers to an economic pattern that aims to obtain a resource that is not fully utilized.[91] Nowadays, the sharing economy has had an unimagined effect on many traditional elements including labor, industry, and distribution system.[91] This effect is not negligible that some industries are obviously under threat.[91][92] The sharing economy is influencing the traditional marketing channels by changing the nature of some specific concept including ownership, assets, and recruitment.[92]


Market challenger: The market challenger holds the second highest market share in the category, following closely behind the dominant player. Their market posture is generally offensive because they have less to lose and more to gain by taking risks. They will compete head to head with the market leader in an effort to grow market share. Their overall strategy is to gain market share through product, packaging and service innovations; new market development and redefinition of the to broaden its scope and their position within it. Digital marketing

Key Ideas: Each business is unique and that there can be no formula for achieving competitive advantage; firms should adopt a flexible planning and review process that aims to cope with strategic surprises and rapidly developing threats; management's focus is on how to deliver superior customer value; highlights the key role of marketing as the link between customers and the organisation.


Market segmentation consists of taking the total heterogeneous market for a product and dividing it into several sub-markets or segments, each of which tends to be homogeneous in all significant aspects.[10] The process is conducted for two main purposes: better allocation of a firm's finite resources and to better serve the more diversified tastes of contemporary consumers. A firm only possesses a certain amount of resources. Thus, it must make choices (and appreciate the related costs) in servicing specific groups of consumers. Moreover, with more diversity in the tastes of modern consumers, firms are noting the benefit of servicing a multiplicity of new markets.
Now imagine you had that brochure on your website instead. You can measure exactly how many people viewed the page where it's hosted, and you can collect the contact details of those who download it by using forms. Not only can you measure how many people are engaging with your content, but you're also generating qualified leads when people download it.
One of the limitations of the 4Ps approach is its emphasis of an inside out-view. [45] An inside-out approach is the traditional planning approach where the organisation identifies its desired goals and objectives, which are often based around what has always been done. Marketing's task then becomes one of "selling" the organization's products and messages to the "outside" or external stakeholders.[43] In contrast, an outside-in approach first seeks to understand the needs and wants of the consumer.[46]
^ , Blackwell Reference, Kotler, P., "What consumerism means for marketers", Harvard Business Review, vol. 50, no. 3, 1972, pp. 48–57; Wilkie, W.L. and Moore, E.S., "Macromarketing as a Pillar of Marketing Thought," Journal of Macromarketing, Vol. 26 No. 2, December 2006, pp. 224–32 doi:10.1177/0276146706291067; Wilkie, W.L. and Moore, E.S., "Scholarly Research in Marketing: Exploring the "4 Eras" of Thought Development," Journal of Public Policy and Marketing, Vol. 22, No. 2, 2003, pp. 116–46
Typically the firm will attempt to leverage those opportunities that can be matched with internal strengths; that is to say the firm has a capability in any area where strengths are matched with external opportunities. It may need to build capability if it wishes to leverage opportunities in areas of weakness. An area of weakness that is matched with an external threat represents a vulnerability, and the firm may need to develop contingency plans.[60]
This refers to the process of setting a price for a product, including discounts. The price need not be monetary; it can simply be what is exchanged for the product or services, e.g. time, energy, or attention or any sacrifices consumers make in order to acquire a product or service. The price is the cost that a consumer pays for a product—monetary or not. Methods of setting prices are in the domain of pricing science. [44]
Porter's approach was the dominant paradigm throughout the 1980s. However, the approach has attracted considerable criticism. One important criticism is that it is possible to identify successful companies that pursue a hybrid strategy - such as low cost position and a differentiated position simultaneously. Toyota is a classic example of this hybrid approach.[68] Other scholars point to the simplistic nature of the analysis and the overly prescriptive nature of the strategic choices which limits strategies to just three options. Yet others point to research showing that many practitioners find the approach to be overly theoretical and not applicable to their business.[72]
What does it take to do that? Simply put, you have to take a step back for a moment. You have to analyze and understand the basic mechanics of your message and how to effectively reach a larger audience without losing your shirt. The secret to all of this? No matter what marketing strategy you use, if you don't have an effective sales funnel and optimize your conversions, you'll just be throwing money away.
High levels of horizontal integration lead to high levels of communication within the business. Another benefit of using this strategy is that it leads to a larger market for merged businesses, and it is easier to build good reputations for a business when using this strategy.[86] A disadvantage of using a diversification strategy is that the benefits could take a while to start showing, which could lead the business to believe that the strategy in ineffective.[84] Another disadvantage or risk is, it has been shown that using the horizontal diversification method has become harmful for stock value, but using the vertical diversification had the best effects.[87] Is Digital Marketing Oversaturated in 2019?

One way marketers can reach out to consumers, and understand their thought process is through what is called an empathy map. An empathy map is a four step process. The first step is through asking questions that the consumer would be thinking in their demographic. The second step is to describe the feelings that the consumer may be having. The third step is to think about what the consumer would say in their situation. The final step is to imagine what the consumer will try to do based on the other three steps. This map is so marketing teams can put themselves in their target demographics shoes.[86] Web Analytics are also a very important way to understand consumers. They show the habits that people have online for each website.[87] One particular form of these analytics is predictive analytics which helps marketers figure out what route consumers are on. This uses the information gathered from other analytics, and then creates different predictions of what people will do so that companies can strategize on what to do next, according to the peoples trends.[88]
At HubSpot, we talk a lot about inbound marketing as a really effective way to attract, engage, and delight customers online. But we still get a lot of questions from people all around the world about digital marketing. So, we decided to answer them. Click the links below to jump to each question, or keep reading to see how digital marketing is carries out today.
This type of marketing strategy is used to gain resurgence in the audience in a short span of time by hacking into one of the internet marketing strategies. There are many professionals who can do this job for you in return for money. One method is to try several marketing strategies simultaneously. You can get a huge amount of data by following this technique.
The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably".[14] A similar concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value.[15] In this context, marketing can be defined as "the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage".[15]

From a model-building perspective, the 4 Ps has attracted a number of criticisms. Well-designed models should exhibit clearly defined categories that are mutually exclusive, with no overlap. Yet, the 4 Ps model has extensive overlapping problems. Several authors stress the hybrid nature of the fourth P, mentioning the presence of two important dimensions, "communication" (general and informative communications such as public relations and corporate communications) and "promotion" (persuasive communications such as advertising and direct selling). Certain marketing activities, such as personal selling, may be classified as either promotion or as part of the place (i.e., distribution) element.[47] Some pricing tactics, such as promotional pricing, can be classified as price variables or promotional variables and, therefore, also exhibit some overlap.
The marketing discipline had its origins in the early 20th century as an offspring of economics. Economic science had neglected the role of middlemen and the role of functions other than price in the determination of demand levels and characteristics. Early marketing economists examined agricultural and industrial markets and described them in greater detail than the classical economists. This examination resulted in the development of three approaches to the analysis of marketing activity: the commodity, the institution, and the function.
The area of marketing planning involves forging a plan for a firm's marketing activities. A marketing plan can also pertain to a specific product, as well as to an organization's overall marketing strategy. An organization's marketing planning process is derived from its overall business strategy. Thus, when top management are devising the firm's strategic direction/mission, the intended marketing activities are incorporated into this plan.
Storytelling is an emotional way to reach your audience. You can produce personal stories, brand stories or a story of one of your customers after taking their permission. There is one more trend of saying a story in exactly six words. Here writer requires great writing skills to create a short meaningful story. This type of marketing strategy helps you to win the trust and loyalty of your customers.
Instead, you need your marketing team to do market research and answer some critical questions: Who's your target audience? Is there market fit for this product? What messaging will increase product sales, and on which platforms? How should your product developers modify the product to increase likelihood of success? What do focus groups think of the product, and what questions or hesitations do they have?

Your marketing team will check out competitors' product prices, or use focus groups and surveys, to estimate how much your ideal customer is willing to pay. Price it too high, and you'll lose out on a solid customer base. Price it too low, and you might lose more money than you gain. Fortunately, marketers can use industry research and consumer analysis to gauge a good price range.

In-game advertising - In-Game advertising is defined as "inclusion of products or brands within a digital game."[60] The game allows brands or products to place ads within their game, either in a subtle manner or in the form of an advertisement banner. There are many factors that exist in whether brands are successful in their advertising of their brand/product, these being: Type of game, technical platform, 3-D and 4-D technology, game genre, congruity of brand and game, prominence of advertising within the game. Individual factors consist of attitudes towards placement advertisements, game involvement, product involvement, flow or entertainment. The attitude towards the advertising also takes into account not only the message shown but also the attitude towards the game. Dependent of how enjoyable the game is will determine how the brand is perceived, meaning if the game isn't very enjoyable the consumer may subconsciously have a negative attitude towards the brand/product being advertised. In terms of Integrated Marketing Communication "integration of advertising in digital games into the general advertising, communication, and marketing strategy of the firm"[60] is an important as it results in a more clarity about the brand/product and creates a larger overall effect. Digital Marketing for Beginners: 7 Strategies That Work
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