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

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Shubhi Kotiya
CxO / Board, Germany

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

🔥NEW 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. Co-creation 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 data analytics these industries are able to provide differential pricing to different customers based on their history of purchase, location, and other profile aspects.
  • COMMUNAL ACTIVATION: In the connected world, consumers demand access to products and services instantly. And with brands going global these needs can be served only by peers in close proximity. Players like as Airbnb, Uber, Zipcar, and Lending Club are disrupting the hospitality, taxi, car rental, and banking industries. This peer-to-peer distribution is the essence of communal activation.
  • CONVERSATION: Traditionally promotion was a one-sided affair, wherein companies used to just make the offerings to the customers. Today, customers can easily respond to the brand offerings and brand messages and thereby generating valuable conversations. The rise of customer-rating systems such as TripAdvisor and Yelp provide a platform for customers to have conversations about and offer evaluations of brands they have interacted with.

  • ⇒ What do you think of this new Marketing Mix?
    Sources:
    Philip Kotler, Hermavan Kartajaya, Iwan Setiawan, (2017). "Marketing 4.0: Moving from Traditional to Digital", pp. 50-51.

  Graham Williams
Management Consultant, South Africa
 

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

I like it Subhi but suspect that many will see it (...)

  Dr. Klaus Nuehrich
Management Consultant, Germany
 

Kotler's 4C not a New Marketing Mix

For me that is really not new and not at all the r (...)

  Alkhaly Mohamed Tahey Conde
Lecturer, Guinea
 

4 Ps AND 4 Cs

These two models are useful, but the four P are th (...)

  Mudukula Mukubi
Business Consultant, Zambia
 

Kotler's 4C versus the 4P Model

Interesting additional perspective, primarily good (...)

  Serwaa
Student (University), Ghana
 

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

This is interesting. Kotler's 4C seems to involve (...)

  Gandhi Heryanto
Management Consultant, Indonesia
 

Digital Technology Changes the Way You Apply the 4Ps Concept

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  Warren Miller, CPA, CFA
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The 4 Cs versus the 4 Ps

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  Victor Inambwae
Zambia
 

Similarity Between Co-Creation and Conversation

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  Alkhaly Mohamed Tahey Conde
Lecturer, Guinea
 

4 C in Knowledge Industries

@Victor Inambwae: The four Cs Model is also useful (...)

  Helen Strong
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Role of 4 Cs

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  rustenburg
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4 Ps AND 4 Cs

In my opinion, it is just marketing to use new key (...)

  Sumit Kumar Pattnaik
Student (MBA), India
 

Refreshing Read

This discussion has given me a whole new perspecti (...)

  Maurice Hogarth
Consultant, United Kingdom
 

Rephrase to Imply New and Different

As pointed out the C's are not new, but more like (...)

  Garth Sutherland
Consultant, South Africa
 

Do the 4P's Require Clarification?

All models evolve! That is the nature of academia. (...)

  Maurice Hogarth
Consultant, United Kingdom
 

Clarification from Evolution

@Garth Sutherland: Agreed, life evolves and that i (...)

  Shubhi Kotiya
CxO / Board, Germany
 

The Key in 4C's is Customer

The responses from many members from the forum ech (...)

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