Alright, so let’s start with this: Everyone’s heard of the marketing mix, but maybe not everyone knows it started off as this simple 4Ps framework, right? Product, Price, Place, and Promotion. But then at some point, people went, "Eh, this isn’t quite enough." And that’s when the 7Ps came along. So, Eric, what’s up with that?Exactly, Ellie. The 7Ps introduced three new elements to reflect the complexities, particularly around service delivery. People, Process, and Physical Evidence. They kind of take the concept beyond products and into the experiences surrounding them. It was a way to handle customer service and interactions more broadly.Interesting. So, like, the “People” part—what’s the deal there? Are we talking just employees, or does it go deeper?Great question. It’s not just employees. It’s anyone involved in delivering the product or service, directly or indirectly—think customer service reps, sales teams. But it can also include the customers themselves, like in digital communities. Which, when done well, can create real advocates for your brand.Ohh, that’s smart! And did I read somewhere that “Process” is, like, how a business runs stuff, yeah? Like, behind-the-scenes stuff?That’s spot on. Process is about the systems and workflows that deliver consistency. For example, in the digital world, this could be a super-smooth online checkout process. When that part works seamlessly, customers are more likely to come back.And then Physical Evidence… that sounds a bit random, no?It might, yes. But it’s incredibly important, especially for brands that exist predominantly online. Physical Evidence includes anything tangible like packaging, store visuals, or even a website’s design. It’s what solidifies the brand in the customer’s mind.Ah, okay, so it’s like trust markers? Stuff like good website layout or clear return policies?Spot on again, Ellie. And I actually worked with a small organic skincare business—a local shop. They initially focused solely on the 4Ps. Their website, frankly, was basic, and customer reviews? Well, they didn’t feature them properly. But they learned about the importance of these extended Ps, and, you know, they revamped the site, added live chat for better Process, and even highlighted customer reviews as Physical Evidence. Their sales shot up by over 30% in just two months.No way. Thirty percent just by shifting focus to those parts?Just goes to show how addressing the full spectrum of the 7Ps opens up opportunities. Especially with how digital tools make all this so much easier and measurable than ever before.So, we’ve seen how the 7Ps broaden the scope of marketing, but one thing that always stands out in any strategy is pricing. I was working on this uni project about digital pricing models, and—wow—it’s wild how much strategy is baked into it. Like, price elasticity and all that. Eric, why is figuring out elasticity such a big deal?Ah, price elasticity is crucial because it shows how sensitive consumers are to price changes. You see, if a product is elastic, even the smallest price shift can dramatically impact demand. Think luxury goods versus basic necessities—completely different responses to pricing shifts.Totally. In my research, I found this term… um, satis-something? Satisficing?That’s it—satisficing. Essentially, consumers don’t always chase the absolute best price or option. Sometimes, they settle for “good enough,” especially when faced with too many choices. And digital tools amplify this because users rely on reviews or rankings to quickly pick what seems decent.Okay, that’s fascinating! And it makes sense with stuff like dynamic pricing, where prices shift in real-time. But doesn’t that annoy customers?It can, but when done transparently, it can also increase engagement. Airlines and e-commerce giants, like Amazon, often use dynamic pricing. They combine algorithms and customer behavior data to adjust prices based on demand, stock levels, or even browsing history. It’s kind of brilliant if you think about it.Oh, and subscriptions! Everyone’s doing those now. Like, from Netflix to, I don’t know, meal kits. They’re everywhere.Yes, because subscriptions offer predictability for businesses and convenience for consumers. Plus, they foster brand loyalty. Look at Spotify—users stick around because of that small monthly fee promising endless music. Or Adobe moving from one-off payments to Creative Cloud subscriptions—it transformed their revenue model.And bundling! You mentioned Amazon a second ago, and I realized I’ve been suckered into their add-on deals so many times. Like, “Hey, here’s this thing you didn’t even know you needed… let’s throw it in at 20% off.”Exactly. Bundling appeals to the human desire for value and simplicity. Companies like Microsoft bundle their software or gaming services, which can significantly improve uptake. And, in digital contexts, it’s easy to experiment with these strategies to see what resonates with different consumer segments.So cool. I feel like the only limit is creativity—and maybe some ethics—but still!Speaking of creativity and engagement, Eric, let’s pivot to social media—it’s like the ultimate battleground for building trust and brand identity in digital marketing. I mean, it feels like all those strategies we just discussed—dynamic pricing, subscriptions, bundling—they all rely on how well a brand communicates value. So, what’s the secret sauce for making social media work?Ah, Ellie, social media is indeed—how shall I put it—the great equalizer. It gives brands the ability to connect directly with their audience on a personal level. In many ways, it’s about transparency. Posting authentic content, responding to comments, that sort of thing—it fosters trust.Right, it’s like, you don’t just care about making sales, you show people who you are, yeah?Exactly. Strong branding goes beyond products; it’s about values, consistency, and building relationships. There’s even a framework that helps guide these efforts—it’s called the LARA framework. Heard of it?Um… maybe? Hit me with it, though.Of course. LARA stands for Listen, Analyze, Relate, and Act. First, you listen to what customers are saying online—comments, reviews, social chatter. Then, you analyze those thoughts to identify patterns or areas to improve. Next, you relate to them by aligning your brand’s message with their expectations. And finally, you act by creating relevant, engaging content or even personalizing offers.Okay, that’s brilliant. Like, if you listen properly, you can meet people where they are. Makes total sense.Absolutely. And it’s not just theoretical. I worked with a small tea company a while back. They were struggling to stand out against bigger players. But, by adopting the LARA approach, they started replying to every single comment and sharing user-generated content—photos of customers enjoying their tea. Their engagement skyrocketed.Wait, they engaged with—like—all their comments? That must’ve been like, crazy time-consuming!It was, but it paid off. Their followers doubled in a year, and their sales increased by about 40%. Why? People felt seen. They weren’t just customers anymore; they became part of the brand story. Social media, when done right, turns transactions into relationships.I love that! It’s so human, you know? And honestly, with all the algorithms and automation, it’s kinda heartwarming to hear about real connection driving success.Precisely. Social media isn’t just a tool—it’s an opportunity to humanize your brand. And the more genuine the interactions, the more loyal people become. It’s the kind of branding you can’t fake or buy.Yeah, and I reckon it’s also a great way to stand out. Like, what’s more unique than your actual story?Couldn’t have said it better myself, Ellie. And on that note, we’ve covered a lot today—from the complexities of the marketing mix to pricing strategies, and now, the magic of social media. It’s been quite the ride.It really has! This has been so much fun. Well, thank you all for tuning in, and we’ll catch you next time! Until then, keep smashing those marketing goals!And remember, the power is in your hands—or, rather, your strategy. Take care, everyone!

Episodes

Mastering the Digital Marketing Mix