Which blog do you read today?

I'm reading a good number of blogs every day. Sometimes I even go to work early so that I could go through those blogs. Or stay late. Not because surfing the blogosphere is a cool thing to do nowadays, but because I get so much out of it. Yes, some of the blogs belong to my friends and I can check what they're up to. Some people write thought-provoking material that stimulates my thinking and creativity, even expands my horizons. Some blogs give me motivation, a kick to become a greater human being and take the best out of my day.

There are quite many blogs I read for educational purposes. Today I read this great post in John Sviokla's blog. He is the global managing director of Innovation & Research at DiamondCluster International, Inc.

He is writing about how marketing mix should be re-mixed and how the good old 4P-s of marketing is obsolete; or rather have expanded. Why? Because the traditional marketing model is insufficient to address the reality of today’s customers. Each of these concepts becomes much more complex and diffuse in this new world.

"Place" is not so obvious because where people shop is not anymore just physical space. "Promotion" is not so clear, because while traditional efforts (advertising etc) will continue, marketers must also acknowledge the self-organized nature of user-defined ratings of products and services. These are influential and out of control of the marketer. It is now much more about word of mouth - and internet is the king in this business.

"Product" continues to be crucial, but the services surrounding product, and the possibility to buy that product totally hassle-free is more critical than ever.Lastly, price is much more dynamic than it used to be.

Price comparisons are much more transparent than just a few years ago, and getting more so. In many markets, from books to used cars, the influence of the used market is completely changing the pricing dynamics -- with new products competing with used substitutes that can be from 25% to 99% cheaper than their new alternatives.

The remix is from Place to Presence; from Promotion to Persuasion; from Positioning to Preference; from Price (static) to Price (dynamic); and from Product to Personalization. These are the key elements of the new marketing remix.

Want explanation? Read the post yourself.

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