4Ps in Web Marketing

The application of 4Ps (product, price, place and promotion) in the case of Web Marketing is identified as follows: 

1. Product 

The website of the company is identified as the principal product in the virtual sphere for the online firm that potentially helps in highlighting the brand to the target customers. The main focus of developing the website is to create awareness in the minds of customers about the website and the offerings rendered by the company. It helps in creating an interest in them and thereby act in persuading them to get a detailed understanding of the diverse product and service offerings made by the firm online.

  

2. Price 

The commercial sites are identified as price elements related to the different assortments of the physical products marketed by the firm. More so the website of the company and the product and service websites are identified by the prospective customer as a cost factor owing to transaction costs pertaining to internet connectivity and also the time and opportunity cost involved with it. Though the aforesaid costs mentioned are lower compared to the same incurred by the customers in terms of carrying out the activity physically yet the customers would tend to be interested in comparing the online costs incurred for accessing the website of the firm with that of its competitors. In case, where the customer finds that the price for the competitors is low compared to the initial firm the same would encourage the customer to switch over to the competitor brand.

3. Place 

The company websites serve as significant platforms for carrying out interactions and transactions between diverse stakeholders like the firm, customers and vendors in an online fashion. Different types of transactions either commercial or non-commercial in nature are carried out by the stakeholders on the website where it acts as an effective counter and outlet for conducting the transactions. Again, the websites also contribute in helping in the online distribution of different types of digital products ordered by the customers like digital music, online services, information and other software products. 

 

4. Promotion 

The website acts as an effective medium for promoting different types of promotional content online to target customers spread over international markets. Communication carried out on the virtual platform ideally help in emotionally impacting the mind-set of the customers and thus acts as a driving force in both attracting and retaining target customers.