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How does technology affect the marketing mix? - Coggle Diagram
How does technology affect the marketing mix?
Social Media
Price
Product
Can receive more reviews with customers to create a better product
Place
Can be run from home
Don't need a location
Can be done using apps
Promotion
Easier to promote business
Can reach a wider variety of people
Free to advertise
E-commerce
Price
Can update prices easier
Quicker to compete with competitor's prices
Product
Don't always have to own the product (dropshipping)
May need to sell objects which are useful for more people
Promotion
Place
Customers can be reached across the globe
No need to buy a location for business
Pay to set up a website/app
Payment methods
Price
Product
Do not need to create a product
Promotion
Get promoted using other businesses
Only need to appeal towards other businesses
Place
Have to pay to set up an app/website
Communication
Price
Can negotiate a price to best suit customers
Product
Can get reviews on the product to alter it
Get real-time information about the product
Promotion
Can directly communicate with customers
Place