Traditional Marketing vs Digital Marketing

What is outside-in marketing based on? The marketing mix is a classic tool to help plan what to offer and how to offer to the customers. Essentially, there are four P's: product, price, place, and promotion. Product is often developed based on customers' needs and wants, captured through market research. Companies control the majority of product decisions from conception to production. To establish a selling price for the product, companies use a combination of cost-based, competition-based, and customer value based pricing methods. Customers' willingness to pay, estimated in consumer value based pricing, is the most important input that customers have in connection with pricing. Read on for more on traditional marketing vs digital marketing. Once companies decide what to offer (product and price), they need to decide how to offer (place and promotion). Companies need to determine where to distribute the product with the objective of making it conveniently available and acc...