Dawn of the digital age and the evolution of the marketing mix

Abstract

This paper traces the journey of the marketing mix paradigm from its inception through continuous debate and discussion over the years. It traces the evolution of marketing mix components and the transformation of the marketing paradigm as society, technology, media, information and money have changed. A significant evolution of technology has changed the face of marketing. The paper uses inputs from marketing experts to trace the all-encompassing and unstoppable expansion of cyberspace that is changing every single dimension of consumers' lifestyles. The paper outlines the acceleration of the information revolution with the advent of the 'Read-Write Web' or 'Web 2.0'. Within this emergent virtual domain, corporate blogs, online communities, social networks and wikis have redefined the routine lives of individuals and changed the way people relate to information, brands, other people and even themselves. The discussion further proceeds to address three important issues facing the world of marketing today: The implications of today's technologically inspired environment for marketing in the twenty-first century, the conceptualization of a customer mix as a pre-requisite for the marketing mix and, in conclusion, finally proposes an update to the marketing mix itself. In addition to this, the paper also traces the incorporation of the concepts of relationship marketing, customer relationship management, co-creation, salesforce automation and digital marketing in current-day marketing environments.