Digital Marketing Strategy › the internet in the traditional marketing mix An effective strategy involves making choices, as the brand that attempts to be all things to all people risks becoming unfocused or losing the clarity of note its value proposition. To make a strong choice, a strategist must first examineA value proposition is the unique benefit that your what the choices are: what are the factors that affect your business? These business offers to its include market, competitor landscape, customers and core competencies. customers. For example, a new airline, before launching, would need to consider whether their product is a domestic or international service; whether its market would be budget travellers or international and business travellers; and whether their channel would be through primary airports or smaller, more cost- effective airports. Each of these choices will result in a vastly different strategic direction. In order to assist strategists in the formulation of business strategies, models such as The Four Ps (product, price, placement and promotion) and the Porter Five Forces analysis have become widely adopted – both of these tools assist in evaluating the kind of value the business is offering and the competitiveness of the market. The Internet, however, impacts hugely on both of these aspects, prompting us to re-examine and adapt traditional models to the changing market environment and new consumer behaviours. The Four Ps Product Price Placement Promotion Figure1.2 The Four Ps The Four Ps are fundamentally changed by the Internet and need to be looked at in view of the context offered by digitally connected media and from the perspective of the consumer. 1. Products and Services Products and services are what a company sells. From fast moving consumer goods to digital products such as software, to services such as consultancy, the Internet has allowed for a huge range of new products. Technology allows for mass customisation of products, seen in a growing trend of letting customers customise goods online before they are created. For24