Social Media and Conversational Marketing Portends Revamp of Marketing P's

Social Media and Conversational Marketing Portends Revamp of Marketing P's - http://blogs.mediapost.com Avatar Posted by wontonu under News
From http://blogs.mediapost.com 5088 days ago
Made Hot by: on November 14, 2007 7:22 pm
Social media and conversational marketing will outpace that of traditional marketing by 2012. Nearly 57% of respondents report that in 5 years time, what they spend on conversational marketing will be greater than that of traditional marketing, while another 24% believed it would be the same as traditional marketing. Significantly, 81% of marketers believe that in 5 years they'll be spending as much or more on conversational marketing vs. traditional marketing.

The rise of digital media continues to make significant inroads into the mainstream media pie. Conversational marketing investment will make up the third pillar of the new marketing model. In addition, Jaffe adds Community and Conversation to the Four P's of marketing: Product, Place, Price and Promotion.





Comments


Written by LeeAdams
5088 days ago

People are always trying to recommend that we modify the 4 P's. I think they just want to be known as the one who changed how marketing is taught. Social media is segment of Promotion. If used for customer service, it's a subsection of Product. Quit complicating the P's.



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