The Web 2.0 Four P’s of Marketing

Thanks to web 2.0 and the new internet marketing paradigm, additional “Ps” are needed to define marketing. View the prior post that defines the traditional 4 P’s of marketing.

1) Personalization - Using the internet as a medium to customize products and services to the end user. Companies like Amazon.com and Dell pioneered this concept, but sites such as MyYahoo and MySpace have taken this to a new level.

2) Participation - This involves letting the end user participate in what the actual brand stands for, the overall direction of the brand, and in some cases what advertisements to run for the products and services.

3) Peer-to-Peer - Marketing through peer networks and communities. Giving the end users a break from all of the disruptive marketing like popups and in-your-face ads.

4) Predictive modeling - Using predictive analytics and algorithms like the neural network in marketing strategies.