MKT318 – Individual Assignment

Topic: How digital tools are changing

marketing mix (4Ps)

Student name: Nguyen Nam Truong

Roll Number : HS173120
Class: MKT1718
Lecturer: Nguyen Minh Quang
Room: Be212

Table of content
I. Introduction
1.1. Definition of marketing
1.2. Definition of marketing mix
II. How digital tools are changing marketing mix (in detail)
2.1. Product
2.1.1. Customer co-creation
2.1.2. Sharing economy
2.2. Promotion
2.2.1. User generated content
2.2.2. Doppelganger brand
2.3. Place
2.3.1. New retailer
2.3.2. Desktop manufacturing
2.4. Price
2.4.1. Pay What You Want
2.4.2. Freemium
III. Suggestions for companies to react towards the changing of digital marketing

I. Introduction

1.1. Definition of marketing

Marketing is a broad term that encompasses all the activities

involved in identifying the needs and wants of consumers and satisfying
those needs through the creation, promotion, and distribution of products
or services. It is an essential function for any business, as it helps to
establish relationships with customers and drive sales growth.
 At its core, marketing is about understanding the target market and
developing strategies to reach and engage with potential customers. This
involves conducting market research to gather information about consumer
behaviour, preferences, and buying habits. Companies then use this data to
create products or services that meet consumer needs and to develop
effective marketing campaigns that communicate the value of these
offerings to the target audience.

In addition to product development and advertising, marketing also

involves pricing strategies, sales promotions, and distribution channels.
Companies must carefully consider the price of their products or services,
taking into account production costs, competition, and customer demand.
They must also identify the most effective distribution channels for
reaching their target market, whether that be through physical stores,
online platforms, or other means.

Furthermore, marketing involves ongoing efforts to build brand

awareness and loyalty among customers. This requires companies to use
various promotional tactics to communicate the unique benefits of their
products or services and to differentiate themselves from competitors.
Effective branding can help to establish a strong reputation for the
company and foster long-term relationships with customers.

Overall, marketing plays a critical role in connecting businesses with

their customers and building sustainable growth over time. By prioritizing
the needs and preferences of their target audience, companies can develop
effective marketing strategies that drive sales, build brand equity, and
ultimately contribute to their long-term success.

1.2.Definition of marketing mix

Marketing mix is a crucial concept in the field of marketing that

refers to the combination of strategies and tactics used by a company to
promote its products or services to customers. The marketing mix consists
of four fundamental variables, also known as the 4Ps: product, price,
place, and promotion. Each of these elements plays a significant role in
creating an effective overall marketing strategy that helps the company
maximise profits and increase its competitiveness in the market.
 The first element of the marketing mix is the product, which refers to
the tangible or intangible good or service that a company offers to its
target market. This includes features, design, quality, packaging, and
branding, all of which must be carefully designed and developed to meet
the needs and wants of the consumer.

The second element of the marketing mix is price, which refers to

the monetary value that the consumer must pay for the product or service.
The pricing strategy must take into account various factors such as
production costs, competition, and desired profit margins, while also
considering the perceived value of the product or service to the customer.

The third element of the marketing mix is place, which refers to how
the product or service is distributed and made available to customers. This
includes physical stores, websites, online platforms, and other distribution
channels that allow consumers to access and purchase the product or
service.

The fourth and final element of the marketing mix is promotion,

which refers to the communication activities used by a company to
promote and advertise its products or services to customers. This includes
advertising, sales promotions, personal selling, and public relations, all of
which are designed to communicate the value and benefits of the product
or service to the target audience.

Effective use of the marketing mix is essential for companies to

succeed in today's highly competitive marketplace. Companies must
carefully analyse each element of the marketing mix and tailor their
strategies to meet the specific needs and preferences of their target market.
By doing so, they can create a comprehensive and effective marketing
strategy that maximizes their profits and helps them achieve long-term
success.

I. How digital tools are changing marketing mix

2.1 Product
In general, a product can be defined as something that is made or
produced by human effort to satisfy a need or want. It is typically regarded
as an item or service that is offered for sale in the marketplace and has
some form of value attached to it. Products can range from physical goods
like clothing, electronics, and furniture, to intangible services like
consulting, education, and healthcare.

The development of a product often involves a complex process that

includes research, design, testing, manufacturing, marketing, and
distribution. This process requires a significant amount of time, resources,
and expertise to bring a product to market successfully. In many cases,
multiple teams and departments within a company are involved in this
process, each with their own roles and responsibilities.

Once a product is available for purchase, it becomes part of the

larger economy and can have a significant impact on both consumers and
businesses. For consumers, products provide a means of satisfying their
needs and desires, while for businesses, they can generate revenue and
profits. The success of a product is usually measured by its ability to meet
customer needs and preferences, compete against other products in the
market, and achieve financial sustainability over time.

Overall, the concept of a product is an essential aspect of modern

society and commerce, driving innovation, growth, and prosperity.

2.1.1 Customer co-creation

Customer co-creation is a business strategy that involves
collaborating with customers in the development and innovation of
products and services. In this approach, companies engage customers in a
joint effort to identify and address their needs and preferences, as well as
to generate new ideas and solutions. By involving customers in the product
or service development process, companies can gain valuable insights and
feedback, increase customer loyalty, and differentiate themselves from
competitors.

The concept of customer co-creation is based on the idea that

customers are not just passive consumers but active participants in the
value creation process. By involving customers, businesses can tap into
their knowledge, expertise, and creativity, leading to better products and
services that meet specific customer needs. Customer co-creation can take
many forms, such as crowdsourcing, focus groups, co-design sessions, and
online feedback forums.
 One of the key benefits of customer co-creation is the ability to build
stronger relationships with customers. By involving them in the product
development process, companies show that they value their opinions and
are committed to meeting their needs. This can lead to increased customer
loyalty, advocacy, and trust, which can ultimately translate into higher
sales and revenue.

Another benefit of customer co-creation is the potential for

innovation. By working with customers, businesses can generate new ideas
and solutions that may not have been possible through internal R&D
efforts alone. This can help companies stay ahead of the curve in terms of
product and service offerings, and can also provide a competitive
advantage in the marketplace.

Overall, customer co-creation is a powerful business strategy that

can help companies improve their products and services, build stronger
relationships with customers, and foster innovation and growth. By
embracing this approach, businesses can create a win-win situation for
themselves and their customers, leading to long-term success and
sustainability.
 The example of customer co-creation is the community-driven beer
brand, BrewDog. The company's entire business model is built around the
idea of customer co-creation and involvement.

BrewDog started as a small Scottish craft brewery in 2007, but it

quickly gained a following thanks to its unique approach to product
development. The company invites its customers to participate in every
aspect of the brewing process, from choosing the ingredients to naming the
beers.

BrewDog's most notable example of customer co-creation is its

Equity for Punks program. This initiative allows customers to invest in the
company in exchange for shares, giving them a say in decision-making
processes and the ability to vote on key issues. This has led to a highly
engaged and invested customer base, who are passionate about the brand
and willing to go to great lengths to promote it.

The company also runs regular "beer school" events, where

customers can learn about the brewing process and create their own
custom brews. And, in 2020, BrewDog launched a new product line called
"Fanzine," which is entirely crowd-sourced. Customers submit their own
recipes and ideas, and the best ones are brewed and distributed to
subscribers.

By involving its customers in every aspect of the business, BrewDog

has created a brand that is highly personalized, community-driven, and
unique. This has helped the company to stand out in a crowded market,
build a loyal customer base, and achieve rapid growth in both sales and
reputation.

Customer co-creation is a dynamic process that involves the active

participation of customers in the creation and delivery of value. It is a
collaborative approach to innovation where firms engage with their
customers to develop new products, services, and experiences that meet
their needs and preferences. Customer co-creation has become
increasingly popular in recent years as firms strive to differentiate
themselves by delivering superior customer experiences.

One of the key characteristics of customer co-creation is that it is a

proactive approach to innovation. Rather than relying solely on internal
R&D efforts or market research, firms actively engage with their
customers to generate new ideas and insights. By involving customers in
the innovation process, firms can tap into their knowledge, expertise, and
creativity to develop solutions that better address their needs and
preferences.

Another characteristic of customer co-creation is that it is a

collaborative process. Firms work closely with their customers to co-create
value, leveraging their complementary skills and resources to achieve
shared goals. Collaboration allows firms to build stronger relationships
with their customers, deepen their understanding of their needs, and foster
greater loyalty.

Customer co-creation also tends to be a more iterative and agile

approach to innovation. The process is often characterized by rapid
prototyping and testing, allowing firms to quickly iterate and refine their
ideas based on feedback from customers. This iterative approach helps to
ensure that the final product or service meets the needs and preferences of
the target customer group.

Finally, customer co-creation is often associated with a more open

and transparent approach to innovation. Firms that engage in co-creation
are often willing to share information and collaborate with external
stakeholders, including customers, suppliers, and partners. This openness
helps to foster greater trust and collaboration, leading to more effective
and innovative outcomes.

Customer co-creation is a process in which companies involve

customers in the design, development, and delivery of products or
services. While this approach has many potential benefits, it also raises
several issues that must be carefully considered.

One of the primary challenges with customer co-creation is

managing expectations. When customers are involved in the creation
process, they may have higher expectations for the final product or service.
Companies must be careful to set realistic expectations while also allowing
for meaningful input from customers.

Another issue with customer co-creation is ensuring that the process

is inclusive. If certain customer segments are excluded from the co-
creation process, the final product or service may not meet the needs of
these customers. Companies must work to engage with a diverse range of
customers to ensure that their voices are heard.

Privacy and data security is another key concern with customer co-
creation. Customers may be reluctant to share personal information or
feedback if they feel that their privacy is not being respected. Companies
must be transparent about how customer data will be used and protected in
the co-creation process.

Intellectual property is another issue that must be addressed in

customer co-creation. If customers contribute ideas or designs, it may be
difficult to determine who owns the intellectual property rights.
Companies must establish clear guidelines around ownership and licensing
of any intellectual property created through the co-creation process.

Finally, customer co-creation requires significant resources and

coordination. Companies must be prepared to allocate time, personnel, and
financial resources to the co-creation process. They must also have
effective communication channels and processes in place to ensure that
customer feedback is integrated into the design and development process.

Overall, while customer co-creation can be an effective way to

engage customers and create innovative products and services, it is
important to address these issues and challenges. By doing so, companies
can maximize the benefits of customer co-creation while also mitigating
the risks and challenges associated with this approach.

Customer co-creation is a strategy that involves actively engaging

customers in the creation or development of products, services, or
experiences. It is an approach that recognizes the value of customer inputs
and feedback and seeks to leverage this knowledge to produce better
outcomes.

There are several conditions under which customer co-creation can

be applied effectively. These include:

Complex problems: When the problem or challenge being addressed

is complex and multifaceted, customer co-creation can be particularly
useful. By pooling insights from multiple perspectives, it becomes possible
to identify novel solutions that may not have been apparent when
considering the problem from a single viewpoint.

Diverse customer base: Customer co-creation is most effective when

there is a diverse customer base with varying needs, preferences, and
experiences. This diversity ensures that the solution developed is inclusive
and meets the needs of a broad range of customers.

Innovation-focused: Organisations that have an innovation focus are

well-suited to customer co-creation. By tapping into the creative potential
of customers, these organisations can generate new ideas and approaches
that lead to breakthrough innovations.

Collaborative culture: A collaborative culture is essential for

successful customer co-creation. This means fostering an environment
where customers feel valued and encouraged to contribute their insights
and ideas. When customers are treated as partners in the process, they are
more likely to engage fully and provide valuable input.

Agile processes: To effectively implement customer co-creation,

organizations need to have agile processes in place. This means having the
ability to quickly prototype and test new ideas, iterate based on feedback,
and make rapid adjustments as needed.

Overall, customer co-creation can be a powerful tool for

organizations looking to create innovative solutions that meet the needs of
a diverse customer base. By engaging customers as partners in the product
development process, organizations can tap into a wealth of insights and
expertise that can drive better outcomes and help build stronger customer
relationships.

2.1.2 Sharing economy

The sharing economy is an economic model in which individuals

can share their assets, resources, or services with others through the use of
digital platforms. This concept is based on the idea of collaborative
consumption, where people can access goods and services without the
need to own them outright.
 In the sharing economy, individuals can rent out their homes, cars,
bikes, or other assets to others for a fee. This allows for greater flexibility
and convenience for both parties, as the owner can earn extra income by
monetizing assets that might otherwise go unused, while the renter gains
access to a wider range of resources that they may not have been able to
afford or access on their own.

One of the key benefits of the sharing economy is the potential to

reduce waste and encourage more sustainable consumption patterns. By
sharing resources and assets, we can reduce our overall consumption and
minimize our impact on the environment. Additionally, the sharing
economy can help to build stronger communities by fostering greater
connections and collaboration between individuals.

However, there are also some challenges associated with the sharing
economy, such as concerns around safety, liability, and regulation. As the
sharing economy continues to evolve and grow, it will be important for
policymakers and industry stakeholders to address these issues and ensure
that the benefits of this model are realized while minimizing any negative
impacts.

The example of the sharing economy is the tool-sharing platform,

ShareGrid. ShareGrid connects filmmakers with other filmmakers who
have camera equipment that they may need to rent for a shoot. This
platform allows filmmakers to save money on expensive equipment rentals
and also gives them access to a wider range of gear than they might be
able to afford or find elsewhere.

ShareGrid has disrupted the traditional film equipment rental

industry by providing an alternative option for filmmakers. Rather than
relying solely on rental houses, filmmakers can now rent gear directly
from other filmmakers who own the equipment. This allows for more
flexible pricing and scheduling options, as well as a more personalized and
collaborative experience.

In addition to ShareGrid, there are many other sharing economy

platforms that cater to specific industries or niches. For example, Peerby is
a platform that allows people to borrow items they may need for a short
period of time, such as power tools or party supplies. Spinlister is a
platform that allows people to rent out their bicycles or cycling gear to
others.

Overall, these examples demonstrate how the sharing economy has

the potential to transform various industries by providing new ways for
individuals to share resources and assets. By leveraging technology and
collaborative consumption, the sharing economy is creating new
opportunities for innovation, sustainability, and community building.

The sharing economy is an innovative and rapidly growing socio-

economic system that has emerged in recent years. It is characterized by
the sharing of resources, typically facilitated by technology platforms, and
is transforming the way we consume goods and services.

One of the key characteristics of the sharing economy is peer-to-peer

transactions. Rather than relying on traditional business models,
participants in the sharing economy transact directly with one another,
often through online platforms that connect users. This allows for greater
flexibility and customization in exchange for goods and services.

Another important characteristic of the sharing economy is a focus

on access over ownership. In the sharing economy, individuals are able to
access goods and services on an as-needed basis, rather than owning them
outright. This approach allows people to save money, reduce waste, and
increase the utilization rate of underused assets.
 Collaborative consumption is another defining feature of the sharing
economy. Participants collaborate with one another to share resources and
reduce waste. This can take many forms, such as carpooling, home-
sharing, or tool-sharing. By pooling resources, individuals are able to
access goods and services that would be too expensive to own or maintain
alone, leading to increased affordability and accessibility for all.

Technology plays a critical role in the sharing economy, with most

transactions being facilitated through online platforms. These platforms
allow users to connect with one another, verify identities, track
transactions, and resolve disputes. They also make it easier for individuals
to participate in the sharing economy, by providing easy access to services
and enabling seamless transactions.

Flexibility and convenience are also important aspects of the sharing

economy. Sharing economy services are often available on-demand and
can be accessed from mobile devices, offering greater flexibility and
convenience than traditional models. For example, ride-sharing services
like Uber or Lyft allow users to quickly and easily arrange transportation,
while home-sharing platforms like Airbnb offer a wide range of
accommodations to suit different budgets and preferences.

Finally, the sharing economy is often associated with sustainability.

By reducing waste and promoting efficient use of resources, sharing
economy practices can help to minimize environmental impact. For
example, car-sharing reduces the number of vehicles on the road, while
home-sharing allows underutilized spaces to be put to use.

Overall, the sharing economy offers a powerful new way of

consuming goods and services that is built on collaboration, access, and
efficiency. While there are still challenges to be addressed, such as
concerns around safety, liability, and regulation, the potential benefits of
the sharing economy make it an exciting area of focus for policymakers,
entrepreneurs, and consumers alike.

The sharing economy has become a popular trend in recent years,

with companies like Airbnb, Uber, and Lyft leading the way. While these
companies have provided many benefits to consumers, they have also
brought about several issues that need to be addressed.
 One of the primary issues with the sharing economy is the lack of
regulation. These companies often operate in a legal gray area, which can
lead to confusion and uncertainty for both consumers and regulators. For
example, regulations surrounding short-term rentals like those offered by
Airbnb vary widely from city to city, and there is often little enforcement
of these regulations.

Another issue with the sharing economy is worker classification.

Companies like Uber and Lyft classify their drivers as independent
contractors rather than employees, which allows them to avoid providing
benefits like healthcare, paid time off, and workers' compensation. This
classification has led to several lawsuits and regulatory challenges, with
many arguing that these workers should be classified as employees and be
entitled to these benefits.

The sharing economy has also led to concerns over safety and
security. With services like Airbnb, there have been reports of hosts
renting out properties without proper safety measures in place, such as
smoke detectors or fire extinguishers. There have also been cases of guests
causing damage to rental properties or engaging in illegal activities.

Finally, the sharing economy has raised questions about its impact
on traditional industries. For example, taxi drivers have protested against
Uber and Lyft, claiming that they are driving down fares and taking away
their business. Similarly, hotels have expressed concern over Airbnb's
impact on the hospitality industry.

Overall, while the sharing economy has provided many benefits, it is

important to address these issues and find solutions that ensure consumer
safety, protect workers' rights, and promote fair competition.

The sharing economy is a socio-economic model that relies on the

sharing of resources, facilitated by technology platforms. While the
sharing economy has become more popular in recent years, it is important
to consider the conditions under which it is most effective. Some of the
key conditions for successful sharing economy models include:

Underutilized assets: Sharing economy platforms are particularly

effective when there are underutilized or idle assets that can be shared. For
example, a car that sits in a driveway for most of the day can be put to use
by someone who needs a ride. By sharing these idle assets, the sharing
economy can promote more efficient use of resources and reduce waste.

Access over ownership: The sharing economy works best when

people prioritize access over ownership. This means valuing the ability to
use something as needed over owning it outright. When people are willing
to share resources rather than hoard them, the sharing economy can be
more effective.

Peer-to-peer transactions: Sharing economy platforms rely on peer-

to-peer transactions, where users interact directly with one another, rather
than through intermediaries. This creates a sense of trust and community
among participants, and allows for more flexible and customized exchange
of goods and services.

Technology-enabled: The sharing economy depends heavily on

technology platforms to facilitate transactions and connect users. These
platforms must be user-friendly, secure, and reliable, and must provide
effective ways for participants to communicate and resolve disputes.

Collaborative consumption: Sharing economy platforms work best

when participants are willing to collaborate and share resources. This
involves a mindset shift from individual ownership to collective use, and
requires a willingness to work with others and share in the benefits of
collaboration.

Regulatory framework: Sharing economy platforms operate within a

regulatory framework that can vary widely from place to place. Successful
sharing economy models require a supportive regulatory environment that
provides clear guidelines and ensures fairness and safety for all
participants.

Overall, the sharing economy can be a powerful model for

promoting more efficient use of resources and greater collaboration among
individuals. By considering these conditions, companies can maximize the
benefits of sharing economy models while mitigating the risks and
challenges associated with this approach.

2.2 Promotion
 Promotion is one of the four primary elements of the marketing mix,
along with product, price, and place. It refers to all of the tactics and
activities that marketers use to communicate the value of their products or
services to target audiences. The main objective of promotion is to
persuade potential customers to make a purchase or take some other
desired action.

Promotion can take many forms, including advertising, sales

promotions, personal selling, direct marketing, and publicity. Each of these
tactics has its own strengths and weaknesses, and marketers must choose
the most appropriate mix of tactics for their specific situation.

Advertising is perhaps the most well-known form of promotion. It

involves using various channels, such as television, radio, print media, and
online platforms, to deliver persuasive messages about a product or service
to a wide audience.

Sales promotions are another common form of promotion. This

includes things like discounts, coupons, contests, and giveaways, which
are designed to encourage immediate sales and create a sense of urgency
among consumers.

Personal selling is a more targeted approach to promotion, typically

involving direct interaction between a sales representative and a potential
customer. This can include face-to-face meetings, phone calls, or online
chats.

Direct marketing involves delivering targeted messages directly to

potential customers through channels such as email, social media, or direct
mail. These messages can be highly personalized and are intended to elicit
a response from the recipient.

Finally, publicity involves using media channels to generate free

coverage and exposure for a product or service. This can include press
releases, feature articles, and interviews with journalists.

Overall, the goal of promotion is to create awareness, generate

interest, and ultimately persuade potential customers to take action.
Effective promotion requires careful planning, a deep understanding of the
target audience, and a clear understanding of the strengths and weaknesses
of different tactics.

2.2.1 User generated content

User-generated content (UGC) is any type of content that has been

created by users or customers rather than by a company. This can include
anything from social media posts and blog comments to product reviews,
photos, videos, and more. UGC is becoming increasingly important in the
digital age as consumers have greater access to technology and social
media platforms and are empowered to share their opinions and
experiences with a wider audience.

One of the key benefits of UGC is that it can be a powerful

marketing tool for brands. When consumers create content related to a
brand or product, they are essentially providing free advertising and
advocacy. This can help to increase brand awareness, build trust and
credibility, and drive engagement and loyalty among customers.

Another benefit of UGC is that it can provide valuable insights into

customer preferences and behaviors. By analyzing UGC, companies can
gain a deeper understanding of what customers like and dislike about their
products or services, how they use them, and what motivates them to make
a purchase.

There are many different types of UGC, including product reviews,

testimonials, user-generated images and videos, social media posts, blog
comments, and more. Each of these types of UGC can provide unique
benefits to brands, depending on the context and goals of the marketing
campaign.

However, it is important to note that there are also risks associated

with UGC. For example, negative reviews or comments can damage a
brand's reputation, and inappropriate or offensive content can lead to
backlash or even legal action. Therefore, it is important for companies to
have strategies in place to monitor and manage UGC, and to ensure that
they are complying with relevant laws and regulations governing user-
generated content.
 Overall, UGC can be a valuable tool for brands looking to build
relationships with customers, increase engagement, and gain valuable
insights into consumer behavior. By leveraging UGC effectively and
responsibly, companies can enhance their marketing efforts and achieve
greater success in the digital age.

example of user-generated content (UGC) is online forums and

discussion boards. These platforms provide a space for users to ask
questions, share insights, and engage in conversations related to specific
topics or products. For example, a company that produces software might
create an online forum where users can ask questions about the product,
share tips and tricks, and provide feedback to the company.

By monitoring these forums, companies can gain valuable insights

into how users are interacting with their products, what issues they are
experiencing, and what features they would like to see in future updates.
They can also use the forum as a platform to engage with customers
directly, answering questions, addressing concerns, and providing support.

In addition to being a source of valuable feedback, online forums

and discussion boards can also be a powerful tool for building brand
loyalty. By creating a community of users who are passionate about a
particular product or topic, companies can foster a sense of belonging and
create a more engaged customer base.

Finally, online forums and discussion boards can also be a source of

user-generated content that can be leveraged in other marketing efforts.
For example, a company might identify particularly helpful forum posts
and use them in social media campaigns or on their website to showcase
the value of their product and the expertise of their user community.

Overall, online forums and discussion boards are a great example of

how UGC can be used to build stronger relationships with customers, gain
valuable insights, and create more effective marketing campaigns.

User-generated content (UGC) has become an increasingly

important part of marketing strategies across a wide range of industries.
There are several key characteristics that define UGC and make it such a
powerful tool for brands:
 Authenticity: One of the most important characteristics of UGC is
authenticity. Consumers trust the opinions and experiences of other
consumers more than they do traditional advertising, which can often feel
staged or insincere. UGC provides a more authentic and genuine
representation of what customers think and feel about products or services.

Diversity: UGC is produced by consumers from all walks of life,

with a wide range of backgrounds, experiences, and perspectives. This
diversity of voices can help to promote inclusivity and create a more
representative picture of the customer base.

Creativity: UGC is often very creative and showcases the unique

perspectives and talents of individual users. This creativity can be
harnessed by brands to create more engaging and effective marketing
campaigns.

Unpredictability: UGC can be unpredictable and uncontrollable,

which can be both a strength and a challenge. On one hand, UGC can
provide unexpected insights and perspectives that can help brands to
innovate and stay ahead of the competition. On the other hand, UGC can
also be risky, as negative or inappropriate content can damage a brand's
reputation.

Engagement: UGC is inherently engaging, as it encourages users to

interact with brands and with each other. By inviting customers to
participate in the creation of content, brands can build stronger
relationships and foster greater loyalty.

Shareability: UGC is highly shareable, as users are often eager to

share their experiences and opinions with others. This can help to extend
the reach of marketing campaigns and generate buzz around a particular
product or service.

Overall, these characteristics make UGC a valuable tool for brands

looking to engage with customers, gain insights into consumer behavior,
and create more authentic and effective marketing campaigns. By
leveraging the creativity and expertise of their customers, brands can build
stronger relationships and drive greater success in the digital age.
 User-generated content (UGC) can be a powerful tool for brands
looking to engage with customers and build stronger relationships.
However, there are also several issues that companies need to be aware of
when using UGC as part of their marketing strategy. Some of the main
issues include:

Quality control: One of the biggest challenges with UGC is

maintaining quality control. Since anyone can create content, there is a risk
that some of it may be low-quality or inappropriate. Brands need to have
systems in place to monitor UGC and ensure that it meets certain
standards.

Legal issues: UGC can also raise legal issues related to copyright,
privacy, and defamation. Companies need to be aware of relevant laws and
regulations governing UGC and take steps to ensure that they are not at
risk of legal action.

Negative feedback: UGC can sometimes include negative feedback

or criticism of a brand or product. While this feedback can be valuable, it
can also damage a brand's reputation if it is not handled properly.

Risk of fraud: There is also a risk of fraud or fake UGC, where users
create false content in an attempt to manipulate public opinion. Companies
need to be wary of this risk and take steps to authenticate UGC where
possible.

Lack of control: Finally, one of the biggest challenges with UGC is

the lack of control that brands have over what is being created. While this
lack of control can be a strength in terms of creativity and innovation, it
can also make it difficult for companies to manage their brand image and
messaging.

Despite these challenges, there are several conditions under which

UGC can be applied effectively:

Engaged customer base: User-generated content works best when

there is an engaged customer base that is willing to create and share
content. Brands can foster engagement by creating communities around
their products or services and encouraging customers to participate in the
creation of UGC.
 Authenticity: UGC is most effective when it is authentic and
genuine. Brands need to be willing to listen to their customers and
incorporate their feedback into their marketing strategy.

Clear guidelines: To maintain quality control and avoid legal issues,

brands should establish clear guidelines for UGC creation and sharing.
These guidelines should include standards for content quality, appropriate
usage, and legal compliance.

Social media presence: Social media platforms are a key channel for
UGC, so brands need to have a strong social media presence and be active
in engaging with customers on these platforms.

Flexibility: Finally, brands need to be flexible and adaptable in their

approach to UGC. This means being open to new ideas and feedback from
customers, and being willing to adjust their marketing strategy as needed
based on the results of their UGC campaigns.

Overall, user-generated content can be a valuable tool for brands

looking to engage with customers and build stronger relationships. By
understanding the potential issues and applying UGC under the right
conditions, companies can harness the creativity and expertise of their
customers to drive greater success in the digital age.

A doppelganger brand is a brand that closely resembles another

brand in terms of name, logo, or overall appearance, but operates in a
different industry or market. This can result in confusion among
consumers, especially if the doppelganger brand is involved in a scandal or
controversy that damages the reputation of the original brand.
Doppelganger brands can also be intentionally created by companies as a
marketing strategy to ride on the success and recognition of a more
established brand.

One example of a doppelganger brand is "Puma" and "Cougar."

Cougar was a brand of women's shoes that was founded in Canada in the
1940s, while Puma is a German sportswear company that produces a wide
range of athletic apparel and footwear. However, both brands share a
similar name and logo, with both featuring the image of a leaping big cat.
 The similarity between the two brands has led to confusion among
consumers, with some mistakenly believing that Cougar was a subsidiary
or knock-off brand of Puma. This confusion has been exacerbated by the
fact that Cougar has gone through several ownership changes over the
years, leading to inconsistency in branding and marketing efforts.

To compound matters further, Cougar has also been involved in

several controversies and scandals that have damaged its reputation,
including allegations of poor working conditions at its factories and
accusations of copying designs from other shoe companies. These issues
have only served to further blur the line between Cougar and Puma in the
minds of consumers.

While there is no evidence to suggest that Puma intentionally created

Cougar as a doppelganger brand, the similarities between the two names
and logos have certainly contributed to the confusion and controversy
surrounding both brands. In the case of Puma and Cougar, the
doppelganger effect has been more accidental than intentional, but it still
serves as a cautionary tale for companies looking to create imitation or
copycat brands.

Doppelganger brands share several key characteristics that set them

apart from other types of imitation or copycat brands. Some of the main
characteristics of doppelganger brands include:

Similarity in name, logo, or appearance: Perhaps the most defining

characteristic of a doppelganger brand is its similarity to another
established brand in terms of name, logo, or overall appearance. This
resemblance can be intentional or unintentional, but it is often intended to
create confusion among consumers and capitalize on the recognition and
reputation of the original brand.

Different industry or market: Doppelganger brands typically operate

in a different industry or market than the original brand they are imitating.
This can make it difficult for consumers to distinguish between the two
brands, especially if the doppelganger brand is involved in a scandal or
controversy that damages the reputation of the original brand.

Lower quality or reputation: Doppelganger brands are often seen as

lower quality or less reputable than the original brand they are imitating.
This is because they are often created by companies looking to capitalize
on the success of another brand without putting in the effort to build their
own reputation or establish themselves as a legitimate player in the
market.

Lack of innovation: Doppelganger brands are often seen as lacking

innovation or originality. Instead of creating something new and unique,
they simply copy the look and feel of an existing brand and hope to ride on
its coattails.

Legal risk: Doppelganger brands can pose legal risks for both the
imitator and the original brand. The imitator may face trademark
infringement or other legal action, while the original brand may suffer
damage to its reputation if the doppelganger brand is involved in a scandal
or controversy.

Despite these challenges, some companies intentionally create

doppelganger brands as a marketing strategy to piggyback on the success
of an established brand. By creating a brand that closely resembles a
successful competitor, these companies hope to attract customers who are
looking for a cheaper or more accessible alternative. However, this
strategy can be risky and may ultimately damage the reputation of both the
doppelganger brand and the original brand it is imitating.

Overall, doppelganger brands are a unique type of imitation or

copycat brand that operate in a different industry or market than the
original brand they are imitating. While they can provide some short-term
benefits for companies looking to capitalize on the success of another
brand, they also carry significant risks and challenges that can ultimately
harm both the doppelganger brand and the original brand it is imitating.

Doppelganger brands can create a number of issues for both the

imitator and the original brand they are copying. Some of the main issues
associated with doppelganger brands include:

Legal risks: Doppelganger brands can infringe on trademarks or

other intellectual property owned by the original brand, and may face legal
action as a result.
 Damage to reputation: If a doppelganger brand is involved in a
scandal or controversy, it can damage the reputation of the original brand
it is imitating.

Consumer confusion: Doppelganger brands can create confusion

among consumers, who may mistakenly believe that they are purchasing a
product from the original brand.

Lack of innovation: Doppelganger brands are often seen as lacking

innovation and originality, which can make it difficult for them to
establish themselves as legitimate players in the market.

Ethical concerns: Creating a doppelganger brand can be seen as

unethical in some cases, particularly if it is done with the intention of
deceiving consumers or damaging the reputation of a competitor.

Despite these challenges, there are some conditions under which

companies may choose to apply the doppelganger brand strategy:

Differentiation: Companies may use a doppelganger brand to

differentiate their product from an established brand in the same industry.
By creating a similar but distinct brand, they may be able to attract
customers who are looking for something different.

Market entry: Doppelganger brands can be used as a way for new

entrants to break into a crowded market. By copying the branding or
marketing tactics of an established brand, they may be able to gain traction
more quickly and establish themselves in the market.

Cost savings: Creating a doppelganger brand may be cheaper than

investing in original branding and marketing efforts. This can be attractive
for smaller or newer companies that don't have the resources to develop
their own branding from scratch.

Satirical purposes: In some cases, doppelganger brands may be

created for satirical or humorous purposes. This can create buzz around the
brand and generate interest among consumers.

Rebranding: In some cases, a company may choose to rebrand itself

as a doppelganger of an established brand in order to distance itself from
negative associations or scandals associated with its original name or
branding.

Overall, while doppelganger branding can create significant

challenges and risks, there may be certain conditions under which it could
be applied effectively. However, companies should carefully consider the
potential legal, reputational, and ethical implications of this strategy before
pursuing it.

2.3 Place

In the context of the marketing mix, place refers to the various

channels and methods used to make a product or service available to
consumers. It encompasses all aspects of distribution, including the
physical locations where products are sold, as well as the online platforms
and digital channels used to reach customers.

The goal of place is to ensure that products or services are available

in the right place at the right time, and through the right channels, to meet
the needs and preferences of target customers. This involves careful
planning and coordination between different elements of the supply chain,
from manufacturers and wholesalers to retailers and e-commerce
platforms.

Place can be divided into two main categories: physical distribution

and digital distribution. Physical distribution includes things like retail
stores, warehouses, and transportation networks, while digital distribution
involves online sales channels such as e-commerce websites, mobile apps,
and social media platforms.

When developing a place strategy, companies need to consider

factors such as customer convenience, cost-effectiveness, and speed of
delivery. They also need to take into account regional and cultural
differences, as well as regulatory requirements around distribution and
sales.

Overall, effective place strategies are critical for ensuring that

products and services are available to customers when and where they
need them, and through the right channels. By carefully managing their
distribution channels, companies can improve their brand visibility,
increase customer satisfaction, and drive greater success in the
marketplace.

A new retailer is a recently established company or business that is

focused on selling goods or services to consumers. New retailers may be
startups or established companies that are entering a new market or
industry. These retailers typically have a fresh approach to marketing and
sales, and may employ innovative strategies to differentiate themselves
from established competitors.

New retailers can take many different forms, from traditional brick-
and-mortar stores to e-commerce platforms and mobile apps. They may
specialize in a particular niche or industry, or offer a broad range of
products and services to appeal to a wider audience.

One of the key advantages of being a new retailer is the ability to

capitalize on emerging trends and consumer preferences. By staying
attuned to changing market dynamics and adapting quickly to new
technologies and customer needs, new retailers can often outmaneuver
larger, more established competitors.

However, new retailers also face significant challenges, including

limited resources, lack of brand recognition, and difficulty establishing
distribution channels and supply chain networks. To succeed, they must be
able to create a unique value proposition that resonates with customers,
and differentiate themselves through superior customer service, quality, or
innovation.

Characteristics of the concept:

Innovation: New retailers are typically characterized by their

innovative approach to marketing, sales, and customer engagement. They
may use new technologies or business models to differentiate themselves
from established competitors.

Agility: New retailers are often more agile than established

companies, allowing them to quickly adapt to changing market conditions
and consumer preferences.
 Niche focus: Many new retailers specialize in a particular niche or
industry, rather than trying to appeal to a broad audience. This allows them
to focus on specific customer needs and create a more personalized
experience for their target audience.

Customer-centric approach: New retailers often prioritize customer

satisfaction and engagement, offering personalized experiences and
superior customer service to build brand loyalty and trust.

Flexibility: New retailers may have more flexibility in terms of

pricing, promotions, and other sales tactics, as they do not have an
established reputation or brand image to uphold.

Issues:

Limited resources: New retailers may have limited financial and

human resources, making it difficult to compete with larger, more
established competitors.

Brand recognition: New retailers may face challenges in establishing

brand recognition and awareness, particularly if they are entering a
crowded market or industry.

Supply chain management: New retailers may struggle to establish

efficient supply chain and distribution networks, which can impact product
availability and delivery times.

Customer acquisition: New retailers may struggle to acquire new

customers, particularly if they are competing against larger, more
established companies with greater brand recognition.

Product quality: New retailers may struggle to maintain consistent

product quality and reliability, which can impact customer satisfaction and
retention.

Conditions where you can apply the New retailer:

Emerging trends: New retailers can capitalize on emerging trends

and consumer preferences by introducing innovative products or services
that cater to these evolving needs.
 Underserved markets: New retailers can fill gaps in the market by
targeting underserved or niche markets, and offering products or services
that are tailored to specific customer needs and preferences.

Disruptive technologies: New retailers can leverage disruptive

technologies to create new business models, reduce costs, and offer
superior customer experiences.

Changing consumer behavior: New retailers can adapt to changing

consumer behavior by offering flexible pricing, promotions, and sales
tactics that respond to evolving customer needs and preferences.

Industry shifts: New retailers can enter industries that are undergoing
significant shifts or disruptions, and capitalize on these changes to
establish a foothold in the market.

Overall, new retailers have the potential to disrupt established

markets and create innovative solutions that meet evolving customer
needs. However, they must be able to overcome significant challenges and
differentiate themselves from larger, more established competitors in order
to succeed.

2.4 Price
In the context of marketing, price refers to the amount of money that
customers are willing to pay for a product or service. Pricing is one of the
key elements of the marketing mix, along with product, place, and
promotion. The price of a product can have a significant impact on
customer behavior and purchasing decisions, and plays a critical role in
determining a company's revenue and profitability.

Pricing strategies can vary widely depending on factors such as

industry, competition, and target audience. Some companies may adopt a
premium pricing strategy, positioning their products as high-end or
exclusive and charging a premium price to reflect this status. Other
companies may use a value-based pricing strategy, setting prices based on
the perceived value that the product offers to customers.

Other pricing strategies include penetration pricing, where a

company sets a low initial price to gain market share, and skimming
pricing, where a company sets a high initial price and gradually lowers it
over time. Dynamic pricing is another pricing strategy increasingly used
by companies, where prices are adjusted in real-time based on demand and
other factors.

Overall, pricing is an essential element of the marketing mix, as it

directly impacts a company's sales, revenue, and profitability. By carefully
considering pricing strategies and analyzing customer behavior and
preferences, companies can optimize their pricing strategy to drive greater
success in the marketplace.

Pay What You Want (PWYW) is a pricing model where customers

are allowed to pay any amount they want for a product or service,
including nothing at all. This concept is also known as "name your own
price" or "pay what you can."

The PWYW pricing model is based on the premise that customers

will pay an appropriate price for a product or service if given the freedom
to choose their own price. This pricing approach has been used in a variety
of industries, from music and art to software and online content.

In some cases, companies may use the PWYW model as a way to

attract new customers and generate buzz around their brand. By allowing
customers to pay what they want, companies can differentiate themselves
from competitors and create a more personalized experience for their
audience.

However, the PWYW model can also be challenging for businesses

to implement successfully, as it requires a high level of trust between the
seller and buyer. There is no guarantee that customers will pay a fair price,
and some may take advantage of the system by paying very little or
nothing at all.

Despite these challenges, the PWYW model has proven successful

for some companies, particularly in the creative industries. By giving
customers the freedom to choose the price they pay, companies can tap
into the goodwill and generosity of their audience, while also generating
revenue and building brand awareness.
 One example of a company that has successfully implemented the
Pay What You Want model is the band Radiohead. In 2007, the band
released its album "In Rainbows" as a digital download using the PWYW
pricing model. Customers were allowed to choose their own price for the
album, with options ranging from nothing to several dollars.

Despite concerns that fans would take advantage of the system and
pay very little or nothing at all for the album, the PWYW model was a
success for Radiohead. The band reported that the average price paid for
the album was around $6, which was higher than the wholesale price of a
physical CD. Moreover, the release generated significant buzz and media
attention, helping to promote the band's music and build its brand.

While the PWYW model may not be appropriate for all industries or
businesses, Radiohead's success highlights the potential benefits of this
approach in certain contexts. By tapping into the generosity of their
audience and giving fans the freedom to choose their own price,
companies can build goodwill, attract new customers, and generate
revenue while also building their brand.

Characteristics of the concept:

Flexibility: The Pay What You Want model allows customers to

choose their own price, giving them greater flexibility and control over
their purchasing decisions.

Trust: The PWYW model requires a high level of trust between the
seller and buyer, as there is no guarantee that customers will pay a fair
price for the product or service.

Marketing: The PWYW model can be an effective marketing tactic,

generating buzz and media attention around a company's brand or product.

Personalization: By allowing customers to set their own price,

companies can create a more personalized experience for their audience,
building goodwill and customer loyalty.

Issues:
 Revenue: The PWYW model can be challenging for companies to
implement successfully, as there is no guarantee that customers will pay a
fair price for the product or service. This can impact a company's revenue
and profitability.

Trust: The PWYW model requires a high level of trust between the
seller and buyer, which can be difficult to establish and maintain over
time.

Pricing strategy: Companies must carefully consider their pricing

strategy when using the PWYW model, as setting prices too low can
devalue the product or service, while setting prices too high can alienate
customers.

Customer behavior: The PWYW model can be influenced by factors

such as customer psychology and social norms, making it difficult for
companies to predict how customers will respond to the pricing structure.

Conditions where you can apply the concept Pay What You Want:

Creative industries: The PWYW model has been successfully used

in the creative industries, such as music, art, and writing, where customers
may be more willing to pay for content they value.

Charitable organizations: Nonprofits and charitable organizations

can use the PWYW model to encourage donations and generate funding
for their causes.

Personalized services: Companies offering personalized services,

such as coaching, consulting, or training, may benefit from the PWYW
model, as it allows customers to set a price that reflects the value of the
service they received.

Small businesses: Small businesses with limited marketing budgets

can use the PWYW model as a way to generate buzz and attract new
customers, while also building goodwill and customer loyalty.

Unique products: Companies offering unique or hard-to-find

products may benefit from the PWYW model, as customers may be
willing to pay more for items that are not readily available elsewhere.
 Freemium is a pricing model used by companies to offer a product
or service for free, while also charging for premium features, functionality,
or additional services. The term "freemium" is derived from the words
"free" and "premium," and is used to describe a business model that
combines elements of both.

Under the freemium model, companies typically offer a basic

version of their product or service for free, with limited features or
functionality. Customers can then upgrade to a premium version of the
product or service, which offers more advanced features or additional
services, for a fee.

The purpose of the freemium model is to attract new users by

offering a free, entry-level product or service, while also generating
revenue through the sale of premium features or services. This approach
can be particularly effective for software companies, mobile apps, and
online services, where customers may be hesitant to pay upfront for a
product they have not yet tried.

While the freemium model can be an effective way to attract new

customers and generate revenue, it also carries some risks. Companies
may struggle to convert free users to paying customers, and can face
challenges around pricing, customer retention, and profitability.

Overall, the freemium model is a popular pricing strategy for

companies looking to build their customer base and generate revenue
through the sale of premium features or services. However, careful
consideration should be given to the potential risks and challenges
associated with this approach, in order to ensure long-term success.

One well-known example of a company that uses the freemium

model is Dropbox, a cloud storage and file-sharing service. The basic
version of Dropbox is available for free, offering users 2GB of storage
space and basic features such as file syncing and sharing.

Customers can then upgrade to a premium version of Dropbox,

which offers additional features and functionality such as more storage
space, advanced collaboration tools, and enhanced security. The premium
version of Dropbox is available for a fee, with pricing plans based on the
amount of storage space required by the user.

The freemium model has been successful for Dropbox, allowing the
company to attract millions of users who may not have otherwise tried the
service. By offering a basic version of the product for free, Dropbox was
able to build its customer base and generate buzz around the brand. At the
same time, the company was able to monetize its service through the sale
of premium features and services, generating significant revenue and
profitability over time.

Other examples of companies that use the freemium model include

Spotify (a music streaming service), LinkedIn (a professional networking
site), and Evernote (a note-taking app).

Characteristics of the concept:

Free basic version: The freemium model offers a free, entry-level

version of a product or service, often with limited features or functionality.

Premium upgrades: Customers can upgrade to a premium version of

the product or service for a fee, which offers more advanced features or
additional services.

Customer acquisition: The freemium model is used as a way to

attract new customers and build brand awareness, particularly in industries
such as software, mobile apps, and online services.

Revenue generation: Companies using the freemium model can

generate revenue through the sale of premium features or services to
paying customers.

Issues:

Monetization: Companies may struggle to monetize their free users,

particularly if they are unable to convert them to paying customers.

Profitability: The freemium model can be challenging for companies

to maintain profitability, particularly if the cost of acquiring new
customers outweighs the revenue generated by premium upgrades.
 Pricing strategy: Companies must carefully consider their pricing
strategy when using the freemium model, to ensure that the price of
premium features or services is appropriate and competitive.

Customer retention: Companies must work to retain their paying

customers, to ensure long-term profitability and sustainability of the
freemium model.

Conditions where you can apply the Freemium:

Software and technology: The freemium model is commonly used in

the software and technology industries, where it is used to offer free
versions of products or services to attract new customers.

Online services: The freemium model is also used in online services

such as social media, email marketing, and web hosting, where companies
offer free versions of their services to attract new customers.

Mobile apps: The freemium model is popular among mobile app

developers, who use it to offer free versions of their apps to attract
downloads and build brand awareness.

III.Suggestions for companies to react towards the changing of digital

marketing

Here are some suggestions for companies to adapt and react towards
the changing landscape of digital marketing:

Embrace new technologies: Companies should stay updated on the latest

digital marketing trends, technologies, and platforms to remain
competitive. This includes exploring emerging technologies such as
artificial intelligence, voice search, and virtual reality.

Personalize content: Consumers expect personalised experiences from

brands, so companies should tailor their content and messaging to their
target audience's specific needs, preferences, and behaviors.
Invest in mobile optimization: Mobile devices have become a primary
source of internet access for many consumers, so companies must ensure
that their websites, apps, and content are optimized for mobile users.

Leverage social media: Social media is one of the most effective channels
for digital marketing, and companies should use it to engage with their
audience, build brand awareness, and drive traffic to their website.

Focus on customer experience: A positive customer experience is crucial

for building brand loyalty and driving business growth. Companies should
prioritise delivering exceptional customer service, creating user-friendly
interfaces, and offering relevant and valuable content.

Monitor data and analytics: Companies should regularly monitor and

analyse data and analytics to gain insights into consumer behaviour,
identify areas for improvement, and measure the success of their
marketing campaigns.

Ensure transparency and trust: With increasing concerns about data

privacy and security, companies must be transparent about how they
collect and use customer data and ensure that it is secure. Building trust
with consumers is essential for long-term success in digital marketing.