Marketing Mix and Social Media: The Changing Dynamic of the 4th P
Author : Dr. Ruhi Qureshi
Abstract :
Promotion is the fourth of the four P's and is often used to establish a company's "marketing mix," a broad term used to describe the many types of decisions that companies must make over the whole process of bringing a product or service to market. If correctly managed, businesses may utilise social media to achieve all three goals more effectively and affordably than any other method available. Businesses may now undertake all of these promotional initiatives more effectively, saving time and money, thanks to the Internet and social media channels' centrality and reach. They may exert influence over corporate communications by successfully connecting with and reacting to the requirements of their customer base. The paper analyses the Impact of consumer-generated brand stories on brand performance, Stimulating and promoting positive consumer-generated brand for marketing mix of a company, their negative response for the consumer brand network with content, channel and space’s role in promoting the marketing mix with social media. We also identified the major variables that presents the changing dynamic of the 4th P of marketing mix and social media by analysing the primary data of 200 customers and analysing them using statistical technique called multiple regression with SPSS software.
Keywords :
Marketing mix, social media, consumer-generated brand, changing dynamic, multiple regression
