Kotler's New 4C Marketing Mix for the Digital Economy

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.     Log in

In the digital economy the conventional Marketing Mix with 4P's must evolve to accommodate more customer participation. Kotler et al. suggest a marketing mix with four C's: Co-creation, Currency, Communal Activation and Conversation:

• CO-CREATION: In the digital economy, co-creation is the new product development strategy. The product is developed by involving customers at the ideation stage. This increases the rate of success. also allows for customization and personalization of the products, thereby providing superior value prepositions.
• CURRENCY: Co-created products are offered at dynamic pricing, based on market demands. In the digital economy, price is similar to currency, which fluctuates depending on market demand. Industries like airlines, hospitality, retail, and all e-commerce shopping platforms today generate huge amounts of data from their customers. Using big these industries are able to provide differential pricing to different customers based on t (...) Read more? Sign up for free 2-12-2020
  

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free. Sign up for free     Log in

		Kotler's New 4C Marketing Mix for the Digital Economy Graham Williams, Management Consultant, South Africa, Premium Member
	(...)

		Kotler's 4C not a New Marketing Mix Dr. Klaus Nuehrich, Management Consultant, Germany, Member
	(...)

		4 Ps AND 4 Cs Alkhaly Mohamed Tahey Conde, Lecturer, Guinea, Member
	(...)

		Kotler's 4C versus the 4P Model Mudukula Mukubi, Business Consultant, Zambia, Member
	(...)

		Kotler's New 4C Marketing Mix for the Digital Economy Serwaa, Student (University), Ghana, Member
	(...)

		Digital Technology Changes the Way You Apply the 4Ps Concept Gandhi Heryanto, Management Consultant, Indonesia, Premium Member
	(...)

		The 4 Cs versus the 4 Ps Warren Miller, CPA, CFA, United States, Member
	(...)

		Similarity Between Co-Creation and Conversation Victor Inambwae, Zambia, Member
	(...)

		4 C in Knowledge Industries Alkhaly Mohamed Tahey Conde, Lecturer, Guinea, Member
	(...)

		Role of 4 Cs Helen Strong, Business Consultant, South Africa, Premium Member
	(...)

		4 Ps AND 4 Cs rustenburg, Business Consultant, Netherlands, Premium Member
	(...)

		Refreshing Read Sumit Kumar Pattnaik, Student (MBA), India, Member
	(...)

		Rephrase to Imply New and Different Maurice Hogarth, Consultant, United Kingdom, Premium Member
	(...)

		Do the 4P's Require Clarification? Garth Sutherland, Consultant, South Africa, Member
	(...)

		Clarification from Evolution Maurice Hogarth, Consultant, United Kingdom, Premium Member
	(...)

		The Key in 4C's is Customer Shubhi Kotiya, Management Consultant, Germany, Premium Member
	(...)