Reflection on learning- Marketing in a wired world

This week covered the topic ‘Marketing in a wired world’. This week discussed the 4P’s which are:
· Product
· Price
· Place
· Promotion

And the 4 C’s which are:
· Cost
· Communication with company
· Customer needs and wants
· Customer convenience

Online brand option are:
· Migrate traditional brands online
· Extended traditional brand
· Partner with a traditional brand
· Create a new digital brand

There are different purchase methods of digital products. The methods are purchase, rental or subscription and pay per use.
This topic discussed four places which are:
PLACE 1: Place of purchase
PLACE 2: New channel structure which is disintermediation, reintermediation, countermediation.
PLACE 3: Channel conflict
PLACE 4: Virtual organisation.

Lastly promotional tools which can be used are:
· Advertising
· Sales promotion
· Personal selling
· Public relations
· Direct marketing