How To Apply The ‘Marketing Mix’ In The Online Business World

Marketing Mix History

In 1960 (the year I was born) Jerome McCarthy broke down Neil Borden’s famous phrase into what later became known as the four P’s of marketing:
1. Product
2. Price
3. Place
4. Promotion

At that time it might have taken semesters of study to fully grasp the fundamentals of several different business operations responsible for the ultimate outcome of producing and selling.

History also shows how specialized each business operation has become and how a single operation now contains scores of specialized career fields.

The Four P’s In The New World

Fast forward 50 years and we find entrepreneurs with unique business ideas who are able to outline an entire online marketing funnel during a single consulting session with an internet marketer.

Whether the product is a physical commodity, an idea or a service every aspect of the marketing mix is contained within the ‘Online Business World.’

The product can be comparably priced with similar items found on the internet. It is most certainly promoted and sold online either via E-commerce or contracted service.

Applying The Marketing Mix Online

The breakdown is also quick and easy after a few specific questions are answered regarding the product.
• How popular is the product within a well defined niche? Is the competition doing a good job or have they left enough room to leverage the benefits you intend to highlight?
• Is there any clear representation of what the price point should be? Is there disparity between low cost and high quality?
• Since we’re focused on selling online, is anything similar available offline? Other than convenience, why is the online option more enticing?
• Can this product benefit best from visual, audio, social, viral, casual, comparative or descriptive promotion?

Let’s face it, DRTV (direct response television) is more effective online than on certain allotted time slots on obscure cable channels.
Every imaginable medium ever invented for promotion is part of the online business world and available to anyone with a cell phone.

Where Does Your Business Fit In The Mix?

If you run a local business, a home business or you’re ready to start a business there are many ways to educate yourself and research exactly how to apply the marketing mix to the online business world.

More fortune 50 companies are expanding their businesses by entering the virtual world completely amazed at how fast everything can be implemented. They have the advantage of hiring someone who knows enough about web design or internet marketing to take advantage of the business structure currently in place.

It’s like hiring a tour guide to show you how your business can grow on the internet.

Go Mobile Or Go Home – How Technology Has Changed The Business World

In a time when a company like Apple can sell 9 million iPhones in three days or less, you know our world has gone completely mobile and perhaps more than a little mad in the process. There’s no denying the obvious fact we want instant images, videos, messages, tweets, conversations… not yesterday but immediately, this very instant. No more waiting, no more holds, no more get back to you tomorrow… we want everything done today, this very moment.

We also want to be connected to the web to keep us informed of what’s happening on the world stage and in our own neighborhoods. We want the latest terror threat, the latest celebrity twerk, the latest viral video and the latest gossip from Aunt Sally. Instant communications available anywhere and at any time.

We want/demand these instant communications in our personal lives, and now we are also demanding them in the business world.

We want to be totally connected at all times, not only to our friends and family, but to our business colleagues, clients and customers. We demand a work force that’s totally in sync, completely connected and working on the same page. A sales force which can be flexible, dynamic and mobile.

In order to have this mobility, technology has given us all the gadgets we need – from smartphones to netbooks, from laptops to iPads to PDAs of every description. More importantly, technology has also given us the services we need to do business in this mobile world. We now have online fax providers, remote data storage, virtual PBX office phone systems… to make all your business transactions portable and instant.

Any modern company or business can now use these online providers or services to completely connect/sync all their business transactions, sales, communications to their computers and the web. Giving the recipient total access, instant communications and complete mobility, which could not be imagined, just a few years ago.

These new technologies have simply changed how business is now done.

Lets take a few concrete examples and apply them to the business environment. First, online fax or faxing has been a major game changer for many companies. Now instead of being directly tied to your traditional fax machine in the office, one can use the Internet and your email system to receive/send all your faxes. This process is easier, more secure and much more cheaper than conventional faxing. Plus, since we now have smartphones, netbooks and laptops, these services are completely portable and accessible anywhere, anytime. There is even an app which allows one to sign or initial an important document/fax directly on your smartphone.

Another game changer has been the introduction of virtual phone and PBX (Private Branch Exchange) systems for your office or company. These online PBX systems can give any company a quick cheaper alternative to costly landline systems. One which comes with all the bells and whistles of a PBX system… call forwarding, instant messaging, call parking, online fax, intercom, voicemail… and in many instances, you can have a virtual receptionist to handle all your messages.

Needless to say, all these services make your company much more mobile and accessible, regardless of the location. It also makes your company reachable at all hours of the day, 365 days of the year. In a broader way, it also seamlessly ties your company or business to all your computers and the Internet. Most successful businesses these days have a solid presence on the web for doing sales, customer support or for promotion of the company brand.

These days, it seems like everything is going mobile. Your company must have a presence in this mobile environment if it wants to be competitive. Mobile advertising or promotion is said to be the next big thing… just imagine capturing a customer’s attention on their smartphone with your latest sale while they’re at the mall, steps away from your store and ready to buy. Or just imagine, having the latest company memo or client communication instantly directed to all your workers in the appropriate department or division.

These are just a few examples of how going mobile can make any company more efficient and much more competitive. Those progressive company owners who quickly realize going mobile is the wave of the future, are the ones who will truly prosper in the coming years. Many business operators have discovered this new reality and have acted accordingly. They are also the ones who won’t need convincing, they won’t need anyone telling them any time soon you simply have to go mobile or go home.

The Contribution of Serviced Offices in the Business World

A lot of start-up businesses are constantly looking for new innovations that can help them reach the top. They want to be able to put their name out there in the business world to gain profits and visibility. If you are one of the many small to medium enterprises then you can definitely make a great move that will be beneficial for your business. Serviced offices are becoming very popular these days due to their benefits. These types of offices are not only beneficial but they can open a whole new opportunity to you and your future endeavors. Here are some of the many benefits of using serviced offices.

Why You Should Use Serviced Offices?

1. Flexibility

Most business owners have a lot in their mind especially when it comes to their business. This is one of the many reasons why they get so tangled up in paperwork and gets easily irritated if they are bothered. An office lease is one of the many things that they need to think of. If you have so much going on, then it can be easily neglected. Having serviced offices will help you manage your business deals without worrying about the management of the premises. You can also get flexible leases on this type of offices which will help you focus more on managing your business.

2. Less Waiting Time

Most of these serviced offices can get you started within 24 hours of inquiry. You can use the office space without having to wait for long periods of time which can be a disaster to your operations. Time is very important to every single business in the world and waiting around for an office space can bring devastating effects on your business. You don’t have to worry about this hassle with this type of offices. You’ll be able to get on with your business in no time with a reliable serviced office.

3. Expand In No Time

At the event that your business has to move or when you decide that you want to expand, serviced offices can be very flexible to your choice. You’ll be able to give a short notice to the office provider to help you with your business needs. This does not only apply for expansion but also when you need to contract the business. You’ll be able to downgrade the space that you need so that you can allocate your resources to other investments. You’ll be able to manage how the business runs with these one of a kind offices.

There is a whole array of advantages that this type of offices can give to a business entity. It is also important to note that these offices are not only for small or medium enterprises. Even large corporations use serviced offices to help them with their business. It is much more convenient to find an office space without worrying about precious time. These office providers can also help you when it comes to managing your money. You can find the best serviced office that will surely fit the allocated budget in your company.

Life Lessons From the Business World That College Won’t Teach You

My time in the business world started quite awkwardly. Apparently learning does not come with a manual. Although it wasn’t always easy, the lessons I brought from the business world and my fledgling entrepreneurship were invaluable. College is a great networking tool and it has opened opportunities for me, but nothing can replace real world experience. Business is like poker; it’s not the hand you are dealt, but the way you play it, that really matters. In poker, life and business, a cast iron stomach and the ability to pick yourself up and keep going every time you fail are priceless. Among the things that I learned that college won’t teach you are:

Mistakes are expensive but necessary

Although they can be costly, mistakes are nothing more than a learning experience. They can provide valuable knowledge if you use them as a reason to learn and keep going. We have all made plenty, but they have helped us to be a stronger more knowledgeable business people because of them.

Get everything in writing

Contracts or written agreements might seem like a hassle but they are totally necessary to avoid future headaches. You never know when you might end up thanking yourself for having something in writing. The legal protection and the clarity it provides to the operation you are running are priceless.

Networking is vital never stop building connections

When you stop trying to build a footprint and gain ground in the industry you are attacking, you are setting yourself for failure, as the only two ways you can fail are giving up or failing to plan. My connections have been a huge help.

It’s okay to find a mentor

You don’t know everything and the odds are you could use the help early on. My first was the CEO of the Legacy Company I marketed for as well several members of the music industry I have turned to for advice. It’s also okay to share your ideas as an idea isn’t worth much unless it is built into a concept and taken forward from there.

Never stop learning

The day you think you know enough, you are making a big mistake. Someone much hungrier than you is waiting for you to stop pushing. You can never know too much and you can never want what you feel you deserve too much either.

Don’t be afraid to take on the big boys

Just because you don’t have a niche isn’t a death sentence for your business. The real difference between success and failure is how bad you want it. A niche could even be worse depending on the industry you are going into you could even be handicapping yourself.

Never Give Up

It’s like the Thomas Edison quote, “failure is only realized when you accept it.” I also love the similar quote, “many who have given up and failed never realized how close to success they really were.” Its true 99% of us will fail not because we aren’t smart enough but because only a small fraction will have the courage to fail again and again, until success is truly theirs.