The impact of technology on the marketing mix

• What is the marketing mix made up of?

  The four Ps: product, price, place, promotion
• Why must all elements of the marketing mix work together?

  To create a successful marketing mix
• What is the impact of technology on the marketing mix?

  • Creates opportunities for businesses
  • Changes promotional mix for customer interaction
  • Influences spending on traditional advertising
• What is the promotional mix?

  The combination of promotional activities used
• How has social media changed business promotions?

  It has altered spending on traditional advertising
• What is e-commerce?

  Any transaction that takes place through the internet
• What is m-commerce?

  Any business transaction through a mobile device
• What are examples of how businesses adapt to technological advances?

  • Increasing use of e-commerce and m-commerce
  • Utilizing digital media for promotions
  • Modifying product designs with new technologies
  • Reducing prices through efficient production
  • Offering competitive pricing via price comparisons